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Elon Musk suggests Tesla needs acquisition to complete insurance push

Tesla Inc. Chief Executive Elon Musk said Tuesday that the car maker "has a small acquisition we need to complete" before launching an insurance product. Musk promised in April to launch a new insurance product in about a month. "Pretty close to being able to release that, we have a small acquisition that we need to complete and a bit of software to write, but it won't be long before we release that," Musk said. The notion of a car maker selling insurance has faced derision from analysts and observers as prominent as Warren Buffett, but Musk has said that Tesla can offer insurance "much more compelling than everything else out there."

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