Page 2 - Tesla

Musk secures historic $1 trn Tesla pay package with shareholder approval

The plan won over 75 per cent support at Tesla's annual meeting in Austin, Texas, as investors endorsed Musk's vision of turning Tesla into an AI and robotics powerhouse

Elon Musk the trillionaire? Debate over his Tesla pay package rages

Elon Musk turned off many potential buyers of his Tesla cars and sent sales plunging with his foray into politics. But the stock has soared anyway and now he wants the company to pay him more -- a lot more. Shareholders gathering on Thursday for Tesla's annual meeting in Austin, Texas, will decide in a proxy vote whether to grant Musk, the company's CEO and already the richest person in the world, enough stock to potentially make him history's first trillionaire. It's a vote that has sparked heated debate on both sides of the issue, even drawing the pope's comments on it as an example of income inequality. Several pension funds have come out against the package, arguing that the board of directors is too beholden to Musk, his behaviour too reckless lately and the riches offered too much. Supporters say Musk is a genius who is the only person capable of ushering in a Tesla-dominated future in which hundreds of thousands of self-driving Tesla cars -- many without steering wheels -- w

Norway fund to vote against Tesla's $1 trn compensation for Elon Musk

Investors in the electric-vehicle maker will decide on November 6 whether to approve the package, likely the largest-ever CEO compensation agreement

Tesla hires ex-Lamborghini chief Sharad Agarwal to lead India operations

Before joining Tesla, Sharad Agarwal led Lamborghini India for nearly a decade, helping the brand dominate the country's super-luxury market

Chinese firm begins trial production of flying cars, ahead of Tesla

A Chinese firm this week began trial production of flying cars stated to be the next generation in the world of transportation, ahead of US firm Tesla and others plans to launch the same shortly. Xpeng Aeroht, the flying car affiliate of Chinese electric vehicle maker Xpeng on Monday began trial production at the world's first intelligent factory for mass-produced flying cars --- a milestone in the commercialisation of next-generation transport. Located in the Huangpu district of Guangzhou, the capital of south China's Guangdong Province, the 120,000-square-metre plant has already rolled out the first detachable electric aircraft of its modular flying car, the Land Aircraft Carrier, the state-run Xinhua news agency reported. The facility is designed to have an annual production capacity of 10,000 detachable aircraft modules, with an initial capacity of 5,000 units. It has the largest production capacity of any factory of its kind, and will be capable of assembling one aircraft ever

Sam Altman cancels Tesla Roadster reservation after '7.5 years of wait'

Last year, Musk said the Roadster's design was nearing completion and promised it would be "something spectacular," indicating that production was planned for 2025

Tesla looks at internal CEO candidate if Musk leaves over pay package vote

Robyn Denholm, chair of Tesla's board, said to ensure an 'orderly transition, the most likely would be internal'. However, Denholm has not ruled out the possibility of external candidates

Tesla profit tumbles 31% despite record sales of EVs as costs rise

Elon Musk highlighted Tesla's Q3 AI and robot projects and his trillion-dollar pay plan, but gave few details on reviving EV sales after a 40 per cent profit drop

Samsung now taking bigger role in making Tesla chips, says Elon Musk

In July, Musk said Samsung made Tesla's AI4 chip and would produce the next-gen AI6, while TSMC handles the current in-development version

Tesla urges Delaware Supreme Court to restore Musk's $56 billion payday

One of the biggest corporate legal battles entered its final stage after a lower court judge rescinded the Tesla CEO's record compensation in January 2024

Global EV price war heats up as Tesla, Nissan and Hyundai slash prices

Automakers worldwide are cutting electric vehicle prices as demand slows; Tesla, Hyundai, Nissan and Chinese brands lead a global price war to attract buyers

Tesla launches cheaper versions of 2 EVs in bid to win back market share

Tesla rolled out new, cheaper versions of two of its electric car models on Tuesday in hopes the offerings will help revive flagging sales but investors dumped its stock anyway. The new Model Y, costing just under USD 40,000 with a stripped-down interior, comes in a brutal year for Tesla as it tries to attract more customers despite an aging lineup, stiff competition from foreign EV makers and anti-Elon Musk boycotts targeting the company. The reaction from the stock market after the news broke suggests the new models are not expected to help much. Investors were looking for something truly different, not an iteration of a old product, said Edmunds analyst Ivan Drury, speaking as Tesla stock dropped sharply in the last minutes of trading. I can't imagine this will bring levels back to what they want. Tesla also announced a cheaper version of its Model 3 for under USD 37,000. For New York residents taking advantage of a state rebate, the price was below USD 35,000. Tesla has talked

Tesla to unveil cheaper version of Model Y to offset loss of tax incentives

The move follows the company's decision to introduce a more affordable version to offset the impact of reduced US incentives for electric cars

Trillionaire Musk?: How Elon Musk could become the first trillionaire | Tesla

Tesla CEO Elon Musk has become the first individual in history to hit a net worth of $500 billion. With Tesla’s soaring stock, SpaceX’s rising valuation,

Elon Musk's $1 trn pay plan faces pushback from investors, state officials

In response to Thursday's letter, Tesla said in a post on X that the performance incentive plan aligns Musk's compensation with shareholder value creation 'of trillions of dollars'

BYD outsells Tesla for fourth straight quarter despite sales dip

Musk has warned Tesla "could have a rough few quarters" after losing the US incentives

Tesla sued over Cybertruck door defects in fatal California accident

In the lawsuit, families claim passengers were trapped inside a burning Cybertruck, citing electronic door failures and nearly impenetrable 'armor glass' windows as key hazards

Musk's net worth hits $500 bn; Tesla CEO to become first trillionaire?

The shares of Tesla saw rose by nearly 4 per cent and added an estimated $9.3 billion to Musk's fortune as investors continued to cheer the prospects of a more focused Musk

Tesla India begins Model Y deliveries, offers free home charging setup

Tesla India on Monday said it has commenced deliveries of Model Y after introducing the model in July this year. Within two months, the company has started the deliveries of the Model Y; this marks a significant step forward and creates a new chapter in electric vehicle ownership and sustainable development in India, the American electric vehicle maker said in a statement. New Model Y owners will be provided with a complimentary wall connector, allowing convenient installation in their parking space for easy home charging, it added. The redesigned Model Y, the world's best-selling electric vehicle in 2023 and 2024, is available in two trims: rear-wheel drive and long-range rear-wheel drive, which provide 500 km and 622 km (WLTP) range, respectively, the company stated. Tesla said it will also start deliveries for Long Range Model Y customers soon. The company had opened its first experience centre in Mumbai in July followed by second experience centre in Delhi at Aerocity in Augus

Nissan revamps ProPilot system to rival Tesla driver-assist technology

The Japanese automaker says the most advanced iteration of its driver-assist technology will be on par with Tesla Inc.'s Full Self-Driving