Companies often change their names because of mergers and acquisitions, changes in business models, changes in product lines, changes in corporate control, and rebranding.
Do you know a company called “Backrub?” This company was named based on the “backlink algorithms” used to search the web. The company was changed into “Google,” named after “Googol,” a number equal to 10 to the 100th power.
“Jerry’s Guide to the World Wide Web,” founded by Jerry Yang, is now known as “Yahoo,” short for “Yet Another Hierarchical Officious Oracle.”
When the “Computing Tabulating Recording Corporation” was changed into the more commanding “International Business Machine,” it was because of a merger of an international time recording company, a computing scale business, and a tabulating machine company.
Elon Musk surprised everyone by merging SolarCity few months ago, a battery company he already owned, into “Tesla Motors.” In the meantime, Musk subtly changed the company website link from “TeslaMotors.com” to “Tesla.com.”
We can only surmise that Musk must want the market to know that Tesla is now an energy company.
Naturally, Tesla Motors should consider changing its name to Tesla, so long as the “Elon Musk Premium” does not turn into the “Artist formerly known as Prince.”