Elon Musk says Tesla is creating a 'major insurance company' after its botched rollout in California last year (TSLA)

· Tesla plans to launch a "major insurance company," CEO Elon Musk announced during a call with investors Wednesday.
· Tesla plans to use data from its cars' computers to determine insurance rates for drivers based on how aggressively they drive, similar to what other insurers offer through third-party connected devices. 
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