Tesla requires suppliers to avoid China-made parts for US cars, as reported by the Wall Street Journal, and it sparks a flurry of thoughts, doesn’t it? The immediate reaction is often one of irony, considering Tesla’s significant manufacturing presence in Shanghai with its Gigafactory. However, it quickly becomes clear this isn’t just a Tesla-specific move; General Motors is reportedly doing the same.
The implications of this shift are considerable. It seems that the policy will apply specifically to US-bound vehicles. This could potentially lead to higher prices in the US, as Tesla navigates the complex landscape of establishing new supply chains.… Continue reading
Tesla shareholders overwhelmingly approved Elon Musk’s record-breaking pay package, potentially worth nearly $1 trillion. The deal requires Musk to significantly increase the electric car firm’s market value and meet other targets over a decade to earn hundreds of millions of new shares. While the payout’s scale has faced criticism, the board argued it was necessary to retain Musk’s leadership. After the approval, Musk emphasized future ventures like the Optimus robot, potentially shifting focus from electric vehicles and full-self driving.
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Tesla shareholders have approved a compensation package for Elon Musk that could potentially make him the world’s first trillionaire. The package, approved by over 75% of the votes cast, would grant Musk up to 423.7 million additional shares over the next decade if the company achieves specific operational and financial targets. To receive the full payout, Tesla’s market capitalization needs to reach $8.5 trillion. This award comes as Musk shifts the company’s focus towards self-driving cars and humanoid robots, despite facing current financial challenges.
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In a significant move, Norway’s $2 trillion sovereign wealth fund announced its opposition to Elon Musk’s pay package at Tesla’s upcoming shareholder meeting. Norges Bank Investment Management (NBIM), the world’s largest sovereign wealth fund and a major Tesla shareholder, cited concerns over the award’s size, dilution, and lack of key person risk mitigation as the reasons for its vote. Despite acknowledging the value created under Musk’s leadership, NBIM, which holds a 1.14% stake valued at $11.6 billion, voted against the deal. The fund’s managers have also expressed interest in continuing constructive dialogue with Tesla.
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Forensic analysis has identified the decomposed body discovered in singer D4vd’s impounded Tesla as 15-year-old Celeste Rivas. The Los Angeles County Medical Examiner’s Office has yet to determine the cause of death, and the LAPD is currently without a crime classification or suspect information. The vehicle was impounded after being reported abandoned, and the Riverside County Sheriff’s Office has confirmed the identity of the missing juvenile. D4vd is fully cooperating with authorities, and the singer’s show in Seattle was canceled.
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Lawsuit says Musk’s Tesla hires visa holders instead of Americans so it can pay less, and honestly, it doesn’t come as a shock, does it? The whole scenario plays out in a way that feels almost predictable, given the landscape of corporate practices we’ve witnessed. It’s hard not to feel a sense of “here we go again” when a major company like Tesla is accused of potentially exploiting the H1B visa program for its own financial gain. The accusation specifically points to hiring visa holders over American workers, ostensibly to reduce labor costs.
The alleged strategy, if true, goes beyond just saving money.… Continue reading
While the US job market has slowed dramatically, creating fewer than 30,000 jobs per month, certain individuals are experiencing substantial wealth accumulation. Tesla’s board proposed a compensation package for CEO Elon Musk that could make him the world’s first trillionaire, provided he boosts the company’s value and remains at Tesla. Other tech billionaires like Larry Ellison, Mark Zuckerberg, and Jeff Bezos have also seen their fortunes grow significantly in the same period, highlighting a trend of concentrated wealth. This data indicates a growing disparity between the economic realities of the average worker and the extraordinary wealth gains of a select few.
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Tesla’s board is proposing a new compensation package for CEO Elon Musk potentially worth up to $1 trillion in a decade, which would award him approximately 423 million shares contingent on reaching specific financial and operational milestones. These include significant increases in market capitalization, vehicle deliveries, and production of robotaxis and humanoid robots. This scheme aims to retain Musk as CEO through 2030 amid a critical growth phase for the company, as Tesla’s stock has seen fluctuations. The proposed package comes despite recent legal challenges to Musk’s previous compensation and a recent dip in vehicle sales and profits.
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Tesla’s sales rout in some European markets continues for eighth months, and it’s easy to see why. The current situation feels like a perfect storm of factors, making it clear why sales figures are plummeting like a World War II bomber.
One significant hurdle is the shift towards a subscription model, which isn’t unique to Tesla but is still a turn-off for many potential buyers. People often bristle at the idea of paying extra for features they feel should be included in the base price, especially when competitors offer more attractive packages. This could be particularly true given the initial excitement around Tesla’s innovative offerings.… Continue reading
Tesla almost halves UK monthly lease fee as sales slump, The Times reports. Well, that’s certainly a headline that grabs your attention, doesn’t it? It seems like the electric vehicle market is facing some headwinds in the UK, particularly for Tesla, if we’re to believe the reports. A significant drop in sales – around 60% in July, to be precise, with the Society of Motor Manufacturers and Traders (SMMT) data backing that up – is leading Tesla to make some pretty drastic moves, like slashing those monthly lease fees.
The interesting thing is that this isn’t happening in a vacuum. Overall new car registrations in the UK also dipped in July, though the decline was only about 5%.… Continue reading
Matt Underwood 
John Q. Hosedrinker