Tesla’s board has approved a new compensation package for CEO Elon Musk, potentially worth $29 billion, despite ongoing legal challenges to his 2018 performance award. The package, consisting of 96 million shares at a discounted price, acknowledges Musk’s contributions despite his not receiving meaningful compensation in years. This decision comes as Tesla navigates challenges including falling sales, political backlash due to Musk’s involvement in politics, and a shift towards AI and robotics under his leadership. While Tesla shares have declined this year, the board believes Musk’s focus on AI and robotics will drive future growth.
Read More
Tesla has awarded Elon Musk $29 billion in shares to incentivize him to remain at the company, particularly amidst the intensifying competition for AI talent. This move comes as the company faces a court decision regarding Musk’s 2018 pay package. The board emphasized Musk’s crucial role in leading Tesla’s transformation into an AI and robotics-focused company. The carmaker says if Musk’s 2018 pay deal is reinstated, he will forfeit the latest share award to avoid a double-dip.
Read More
Tesla’s second-quarter deliveries significantly dropped, marking a potential second straight annual sales decline due to waning demand and brand damage from CEO Elon Musk’s political actions. The company delivered 384,122 vehicles, falling short of analyst expectations, even after a refresh of its Model Y crossover. Despite the launch of a limited robotaxi service, and plans for a cheaper vehicle, analysts predict a tough challenge for Tesla to meet Musk’s goal of a sales turnaround, especially considering a record number of deliveries needed in the second half of the year.
Read More
Tesla experienced a record sales decline, selling 384,122 cars in the quarter, a 13.5% decrease year-over-year, marking the largest drop in its history. This decline is attributed to brand damage from CEO Elon Musk’s political activities and increasing competition from both Western and Chinese automakers. Despite the sales drop, shares initially rose due to exceeding some analyst forecasts, and potential for growth with the rollout of its robotaxi service. Tesla is also at risk of losing its title as the world’s largest EV maker to Chinese automaker BYD.
Read More
Tesla’s European sales experienced a fifth consecutive monthly decline in May, plummeting 28% across 30 countries despite overall electric vehicle market expansion. This poor performance contradicts CEO Elon Musk’s prediction of a “major rebound” following factory retooling, and investors are now anticipating a sales boost from a planned cheaper model later in the year. The sales slump has been particularly notable in Germany, where Musk’s public support for a far-right party has likely impacted sales, and SAIC Motor surpassed Tesla in European sales. Tesla’s recent struggles coincide with the launch of its robotaxi service in Austin, Texas, which is under scrutiny following videos of safety issues.
Read More
AP7, a Swedish pension fund, announced on Friday its complete divestment from Tesla, selling all its shares in the electric vehicle maker. This significant move, representing a substantial portion of AP7’s holdings – on the order of $1.3 to $1.4 billion – is directly attributed to Tesla’s alleged violations of union rights within the United States.
The decision underscores a prioritization of ethical investing, with AP7 explicitly citing these labor rights violations as the primary reason for the sale. This stands in contrast to purely financial motives, indicating a willingness to sacrifice potential future gains for adherence to socially responsible investing principles.… Continue reading
Trump is getting rid of his Tesla, apparently because Elon Musk broke his heart. It’s a bizarre, almost comical situation, reflecting a larger societal malaise where our national discourse seems dominated by childish squabbles between the ultra-rich. The whole thing feels surreal, like watching a soap opera played out by billionaires, with real-world consequences.
The narrative unfolds with a jarring contrast. Remember the earlier pronouncements of admiration for his Tesla? The shift to outright disdain is abrupt, leaving a sense of bewilderment. This change in opinion seems less about the car itself and more about the personal feud between Trump and Musk, highlighting the surprising impact of personal relationships on public pronouncements.… Continue reading
Senator Warren’s report details over 100 instances of potentially unethical or corrupt actions benefiting Elon Musk during his time in the Trump administration. These actions, spanning 15 categories, include the misuse of government resources to promote Musk’s businesses and apparent influence over administration policy towards South Africa. The report alleges conflicts of interest stemming from Musk’s ownership of Tesla and SpaceX, citing instances such as government contracts awarded to Musk’s companies and the weakening of regulatory agencies overseeing them. While not all actions constitute legal violations, the report argues that Musk consistently disregarded ethical norms and potentially violated federal law.
Read More
Elon Musk recently distanced himself from President Trump, citing his role as head of the Department of Government Efficiency (Doge) as the source of unfair criticism. He feels Doge, and by extension himself, has been unfairly blamed for various issues, becoming a scapegoat for the Trump administration’s actions. This shift follows a global backlash against Tesla stemming from Doge’s involvement in federal worker layoffs. Musk’s complaints coincided with SpaceX’s Starship launch failure, further highlighting the negative press surrounding his ventures.
Read More
In April, BYD surpassed Tesla in European battery electric vehicle (BEV) sales for the first time, selling 7,231 units compared to Tesla’s 7,165. This significant achievement comes despite substantial import tariffs on Chinese vehicles and BYD’s relatively recent expansion into major European markets. Overall European BEV sales grew, reaching 17% of the market, with Chinese manufacturers leading this growth at a 59% year-on-year increase. This marks a pivotal shift in the European electric vehicle landscape.
Read More
John Q. Hosedrinker 
Matt Underwood