A Scottish investment fund has underlined its confidence in Tesla by buying more shares in the electric vehicle maker (Greig Cameron writes).
Baillie Gifford spent about Â£25 million to cement its position as the second largest institutional investor in the manufacturer run by Elon Musk, the technology entrepreneur.
The Edinburgh-based firm, founded in 1907 and owned by its partners, manages funds and investment trusts, including the Scottish Mortgage Investment Trust, a member of the FTSE 100.
Tesla, formed in 2003, is best known for its electric cars, although it also has interests in batteries and solar power.
Regulatory filings published in the United States show that Baillie Gifford bought 108,931 shares, which lifted its holding from 7.64 per cent to 7.71 per cent at theâ€¦