Elon Musk’s Tesla buyout plan has hit the skids after investors criticised the billionaire for trying to take it private on the cheap.

One leading shareholder said the company could be worth four times more than Mr Musk said he was planning to bid.

“When you are investing on a 10-year timeline you can’t put a single value on something … If Tesla does become dominant in autonomous driving or electric vehicles, the value could be three or four times $420,” the investor said.