Tesla Observes Decrease in Car Delivery and Unfortunate 4th Quarter Revenue

After the US stock market closed, Tesla released its fourth-quarter 2024 revenue on Wednesday, showing a decrease in sales for the year but a strong stock price performance.

The automotive company reported earnings of $0.73 per share and a profit of $257 billion, lower than Wall Street analysts’ predictions of $27.222 billion. Profit also declined compared to the previous year.

Tesla’s stock dropped by around 4% after the news.

During the revenue call on Wednesday, Tesla CEO Elon Musk announced the Tesla Saber Cub, an autonomous driving taxi set to be produced in 2026. The company also mentioned a delay in release and the launch of the Robotaxi business, with plans for an advanced version of the Model Y sedan to be released in March. Tesla is currently under federal investigation for the use of complete autonomous driving functions in the US.

“This is not a fantasy,” Musk stated. “2025 will be a crucial year for Tesla.”

Recently, Tesla became the world’s top electric manufacturer in the last quarter of 2023, regaining its top spot in the first three quarters of 2024. This success was attributed to a sudden price reduction.

In the revenue report, Tesla disclosed 495,570 deliveries in the fourth quarter and 1.8 million for the year, marking its first year-over-year decline after missing delivery targets in 2024.

The reduction of European subsidies for electric vehicles has impacted Tesla, leading to a 24% drop in Tesla vehicle sales. Some Wall Street analysts predict that lower interest rates set by the US Federal Reserve could boost Tesla demand.

Last year, Tesla’s disappointing delivery numbers highlighted delays in new model releases and a lack of demand for older models, like the cyber truck priced at $80,000.

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Facing legal battles over his compensation, Musk had threatened to leave the company but ultimately remained. Tesla’s stock price has soared over the past year and has gained 75% in the last six months, buoyed by Musk’s relationship with US regulators and favorable business environment.

Despite threats of tariffs on various products from China, including cars, Tesla remains optimistic about future growth.

Source: www.theguardian.com

Since 2016, Tesla, owned by Elon Musk, has secured approximately £200 million in subsidies from the UK.

Analysis shows that since 2016, Elon Musk’s electric car company has received approximately £200m in subsidies from the UK government.

Tesla, led by a tech billionaire who is actively engaging with the UK government, has been granted £191m in funds from Westminster, as reported by Tassel, a public contract data analysis company.

The majority of this funding, £188m, came from the Department for Transport (DfT) over the specified period.

These subsidies were primarily related to the Plug-in car subsidy aimed at encouraging the adoption of electric vehicles and plug-in hybrids. Initially introduced in 2011, this subsidy provided a discount on the purchase price of new plug-in cars, starting at £5,000, until its conclusion in June 2022.

Recent figures from DfT reveal that transportation subsidies peaked at £61.6m in 2020 and have since decreased, with Tesla receiving £49,000 in the first half of the previous year.

Additional grants for Tesla in the UK were provided by entities such as Stirling Council, South Central NHS Trust, and the Scottish Government.

The fact that Tesla has benefited from British government subsidies contrasts with Elon Musk’s statements about reducing government intervention and expenditure.

Musk was appointed by U.S. President-elect Donald Trump to co-lead the Office of Government Efficiency, with plans to streamline federal operations. He also mentioned plans to streamline X’s workforce after acquiring the company in 2022 and reducing the number of federal agencies in the U.S.

Tesla recently reported a decline in annual deliveries for the first time, as incentives failed to drive demand for its older models, missing quarterly targets several times in 2024.

As the world’s wealthiest individual, Musk has utilized X to criticize politicians such as Keir Starmer regarding recent scandals.

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Prime Minister criticized Elon Musk for his recent attacks on the government, denouncing his spreading of misinformation about gang raids.

Tesla has been contacted for a response.

Source: www.theguardian.com

Tesla urges UK to strengthen regulations on vehicle carbon emissions.

Tesla has urged the UK government to tighten regulations on carbon emissions from cars and trucks according to documents. The electric car maker also pushed for higher taxes on fossil fuel vehicles.

In a letter to Labor’s Lilian Greenwood, Tesla, led by Elon Musk, proposed strengthening zero-emission vehicle (ZEV) requirements for cars and imposing restrictions on heavy goods vehicles (HGVs). The company called for the introduction of similar rules by the UK government’s Minister of Roads.

Despite a public feud with the Labor Party, Tesla’s vice president praised Labor’s commitment to decarbonizing the energy system and achieving net zero by 2030 in a letter published under the Freedom of Information Act and shared with the Guardian through the fast charging newsletter.

Tesla’s stance contrasts with other automakers lobbying for deregulation. The company believes that advancing and enhancing ZEV mandates is crucial as sales of new electric vehicles increase, prompting growth in the used electric vehicle market.

For trucks, Tesla’s proposed mandate could boost the market for heavy-duty electric vehicles, coinciding with the company’s plans to launch the Tesla Semi. The company called for immediate action to address truck emissions and highlighted the UK lagging behind the EU in regulating such emissions.

A ZEV truck mandate could benefit Tesla by creating a new market for selling credits to rival manufacturers. The company has long advocated for stricter rules on clean transportation and higher taxes on gasoline and diesel cars.

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Elon Musk waves near a Tesla semi-electric truck during a 2022 livestream event. Photo: TESLA/Reuters

Despite disagreements with environmentally conscious buyers over his support for Donald Trump, Tesla continues to profit from selling credits to competitors. The company’s revenue from credits reached $2.1bn (£1.65bn) in the first nine months of 2024.

Tesla faces challenges in the US as subsidies for electric cars are cut, potentially impacting sales. However, the company may benefit indirectly if Chinese automakers face tariffs preventing sales in the US without similar assistance to rivals.

Elon Musk is expected to leverage his relationship with Trump to advocate for deregulation in the self-driving car industry. Tesla’s upcoming self-driving taxi, the CyberCab, is key to the company’s future earnings growth. The company also sees an opportunity for the UK to lead in self-driving technology development.

Tesla declined to provide further comments on the matter.

Source: www.theguardian.com

Musk faces backlash from Tesla owner: “I feel ashamed to be seen in this car”

aElon Musk has aligned himself with Donald Trump and various far-right conspiracy theories, causing concern among a group of Tesla owners who are now feeling uneasy about their association with Musk. Many of these owners have publicly expressed their disappointment with Musk and his recent actions.

Seeking to distance themselves from Musk, the owner of Tesla, the world’s richest man, publicly voiced his support for Trump, contributing to his victory in the US presidential election. Consequently, sales of anti-Musk stickers have surged significantly.

Matt Hiller, a Hawaii-based aquarium employee who sells various stickers online, shared that their sales skyrocketed following the election. The stickers, targeting Musk, feature phrases like “Anti-Elon Tesla Club” and “I bought this before Elon went crazy.” These stickers have been in high demand, with hundreds being sold daily.


Hiller, who opted out of buying a Tesla, criticized Musk for his controversial behavior and is now predominantly targeting Tesla owners with his stickers. The demand for these stickers has been on the rise, with slogans like “Space Clown” gaining popularity.

Tesla, once hailed as an environmental hero, has seen its reputation among liberal consumers tarnished by Musk’s rhetoric and actions. Despite these challenges, Tesla remains a dominant player in the electric car market.




Elon Musk and Donald Trump. Photo: Brandon Bell/Reuters

Despite the backlash, it remains unclear how Musk’s actions will impact Tesla’s sales. Concerns linger over Trump’s policies, including his opposition to electric cars and incentives for buyers. Sellers of anti-Musk merchandise have seen a surge in demand, reflecting public discontent with Musk’s recent behavior.

Musk’s involvement in the Trump administration, particularly regarding government efficiency and layoffs, has raised alarm among some Tesla owners, prompting some to reconsider their support for the brand and its founder.

As Tesla navigates these challenges, its future sales trajectory and consumer appeal remain uncertain in the face of evolving market dynamics and public perception of Musk.

Source: www.theguardian.com

US Authorities Investigate 2.4 Million Tesla Autonomous Vehicles After Crash Report

The U.S. government’s National Traffic Safety Administration has initiated an investigation into 2.4 million Tesla vehicles that are equipped with the company’s fully self-driving software following reports of four crashes, some of which were fatal.

The National Highway Traffic Safety Administration (NHTSA) announced that it has launched a preliminary review after receiving reports of four incidents involving fully autonomous driving in conditions with reduced road visibility like sun glare, fog, and airborne dust.

One of the accidents involved a Tesla vehicle hitting a pedestrian, resulting in a fatal outcome. Another accident under similar circumstances led to injuries, according to NHTSA.


The investigation covers Model S and X vehicles from 2016-2024, Model 3 from 2017-2024, Model Y from 2020-2024, and Cybertruck vehicles from 2023-2024 with optional systems.

A preliminary evaluation is the initial step before a vehicle recall is required if the agency determines that the vehicle poses an unreasonable safety risk.

Tesla states on its website that its “full self-driving” software for on-road vehicles necessitates active supervision from the driver and does not render the vehicle completely autonomous.

NHTSA is assessing the engineering controls of FSD to detect and respond appropriately to reduced roadway visibility conditions.

The agency will investigate if other similar FSD accidents have occurred in conditions of low road visibility and if Tesla has made any updates to its FSD system that could impact such conditions.

“This review will also examine Tesla’s assessment of the timing, purpose, functionality, and safety implications of these updates,” NHTSA mentioned.

Tesla CEO Elon Musk is focusing on self-driving technology and robotaxis amidst competition and subdued demand in the automotive industry.

The company did not respond to requests for comment. Tesla’s shares were down 0.5% before the market opened.

Musk recently unveiled a concept for Tesla’s “CyberCab” robotaxi, which is a two-seat, two-door vehicle that uses cameras and AI for navigation, eliminating the need for a steering wheel or pedals. NHTSA approval would be necessary for deploying these vehicles without human control.

Tesla’s FSD technology has been in development for years aiming for high automation levels, enabling the vehicle to manage most driving tasks without human intervention.

However, there have been at least two fatalities associated with the technology, leading to legal scrutiny. Some experts are concerned about Tesla’s reliance on a “camera-only” approach for self-driving systems in low visibility conditions due to the absence of backup sensors.

Industry experts like Jeff Schuster, Vice President of GlobalData, suggest that weather conditions can affect the camera’s functionality and regulatory requirements may impact the technology’s progress.

“This could be a significant obstacle in the near-term launch of this technology and product,” Schuster added.

Tesla’s competitors in the robotaxi space use costly sensors like lidar and radar for environment detection while operating.

In a December recall, Tesla called back over 2 million vehicles in the U.S. to incorporate new safety features in its Autopilot advanced driver assistance system. NHTSA is still reviewing the appropriateness of this recall.

Source: www.theguardian.com

Top 10 Electric Vehicles to Consider if You’re Looking to Steer Clear of Tesla | Automotive

pictureRon Musk is making headlines lately, with controversial posts and support for Donald Trump’s campaign. However, his negative comments are starting to affect Tesla owners, leading to a decline in sales for the second consecutive quarter in July.

Despite this, Tesla produces excellent electric cars like the latest Model 3, which is one of the best options available. Many other major and newer car manufacturers are catching up to Tesla in the electric car market. Here are the top 10 non-Tesla EVs you can buy now, excluding the upcoming Renault 5 set to launch in the UK in Q1 2025.


Most Affordable EV


Dacia Spring

from £14,995

Scope of claims Up to 140 miles

Battery size 26.8kWh

Lease A 48-month lease starts from around £152 per month, with initial costs of around £1,370. Selective Car Lease Sample lease, or OffersPrices vary when it comes to leasing, however, so we recommend you always shop around – check out our FAQs below for more information.

The Dacia Spring may not be the ultimate car in terms of refinement, but with a range of up to 140 miles and a comfortable ride, it’s perfect for city use.

There’s not a lot of space inside, but it can seat two adults and two children comfortably. The trunk is big enough for a carry-on or your weekly groceries. All models come with air conditioning, and more expensive models have a 10-inch touchscreen with wireless Apple CarPlay or Android Auto smartphone connectivity. There’s also an app that lets you control charging and turn on the heat and air conditioning before you get in the car.

Most people will avoid entry-level cars, especially since the monthly costs won’t be that high. Take out a finance deal and upgrade to a better-equipped, more powerful version, with prices not exceeding £16,995.


The Best Small EV


Volvo EX30

from £32,850

Scope of claims Up to 295 miles

Battery size 51 to 69 kWh

Lease A 48-month lease starts from around £423 per month, with initial costs of around £5,501. Lease.com Sample lease, or Volvo Cars.

Volvo’s EX30 is a smart small car that feels premium but doesn’t come with a steep price tag.

The audio system uses a full-dash sound bar instead of speakers in the doors to produce impressive sound, the window switches have been moved to the center of the car – all to save costs – and you can operate most…

Source: www.theguardian.com

Tesla Gigafactory near Berlin to undergo deforestation of 500,000 trees

Based on satellite analysis, it has been found that the construction of Tesla’s megafactory near Berlin resulted in the cutting down of approximately 500,000 trees.

The establishment of the German plant has sparked significant controversy, leading to widespread protests and discussions regarding the trade-offs associated with developing a green economy.

Elon Musk, the owner of Tesla, criticized local police for allowing “left-wing protesters” to escape.

Satellite imagery reveals that 329 hectares (813 acres) of forest were cleared at the site between March 2020 and May 2023, as reported by environmental information company Queiroz. This amounts to around 500,000 trees.

Since May, environmental activists have been protesting the expansion plans of the Gigafactory, occupying treehouses at a nearby campsite and attempting to storm the plant. In March, one group set fire to a utility pole, resulting in the halting of production at the plant for several days.


Germany: Police clash with hundreds of climate protesters trying to storm Tesla factory – VIDEO


Karolina Dujewo from the campaign alliance “Turn off the tap at Tesla” emphasized that the analysis points to the detrimental impact of the company’s electric car production on the local and global environment. She stressed the urgency to prevent increased deforestation and further environmental destruction in one of the driest regions in Germany, which also puts protected drinking water areas at risk.

Tesla did not provide a response to the request for comment.

Antoine Haruf, chief analyst at Queiroz, stated, “The Tesla factory in Germany has resulted in the loss of a substantial number of trees, which must be balanced against the advantages of transitioning from internal combustion vehicles to electric vehicles.” He highlighted that the felled trees equate to about 13,000 tonnes of CO2, equivalent to annual emissions from 2,800 people driving average internal combustion engine vehicles. Haruf emphasized the importance of acknowledging and mitigating these trade-offs.

In July, Tesla announced plans to double annual production to 1 million units at the Gigafactory in Germany, following approval from the Brandenburg Ministry of the Environment.

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Numerous environmental accidents have occurred at the facility, which also manufactures millions of battery cells and has experienced incidents like leaks and spills of diesel fuel, paint, and aluminum.

While Tesla initially did not respond, they later stated that several accidents occurred on the factory premises during construction and operation, but no environmental harm was caused, and corrective measures were swiftly implemented when necessary.

Deforestation monitoring is conducted by Kayrros using publicly available optical imagery from the Sentinel-2 satellite with a resolution of 10 meters. This data is automatically processed and reviewed by remote sensing experts to ensure quality.

Queiroz mentioned the development of deforestation detection tools to assist companies in compliance with the upcoming EU Deforestation Regulation, which aims to prohibit the import of deforestation-linked goods by early 2025. The tool can also be utilized to independently oversee forests utilized as carbon offsets in voluntary carbon markets.

Source: www.theguardian.com

Tesla announces minimum tariffs for Chinese-made cars exported to EU

The European Commission has updated its extensive investigation into Chinese government subsidies for electric cars. They have announced that Tesla will be subjected to a 9% tax on Chinese-made cars exported to the EU.

The tariffs imposed on Tesla are significantly lower than the average of 21.3% on cooperating companies and 36.3% on non-cooperating companies. These tariffs were applied after Tesla requested individual action as part of the broader EU investigation.

Compared to the 100% tariffs imposed by the US, the 9% EU tariffs are relatively low and will be added on top of the existing 10% tariffs on EVs from China.

EU officials visited Tesla’s Shanghai facility in June and stated that the company has benefitted from low-cost batteries and Chinese government subsidies, including cheap land and export subsidies.

The 9% tariffs are expected to be in effect by October 31st, pending approval from EU member states.

Furthermore, the European Commission announced a slight reduction in tariffs on Chinese-made EVs after discussions with the companies. Under the latest proposal, BYD would face a 17% tariff, Geely 19.3%, and SAIC 36.3%. These tariffs have been revised downwards since the provisional measures were first announced and could change again.

EU officials confirmed that companies will not have to pay provisional tariffs until the deadline, as concluded that European automakers are under a “threat of harm” rather than actual harm like factory closures or job losses.

EU officials emphasized the need for action to prevent the surge in Chinese EV exports from causing significant harm to EU producers. They stated that their laws allow them to act before actual harm occurs in terms of job losses or factory closures.

The Kiel Institute for the World Economy estimated that China’s EV support will reach $5.6 billion by 2022, when direct payments to manufacturers are phased out.

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BYD has been the largest beneficiary, receiving $3.7 billion in support, while Tesla received about $426 million for its Shanghai factory.

According to a report by China trade website Soapbox, 45% of Beijing’s electric car exports between June 2020 and June 2024 were headed to the EU.

Chinese manufacturers ramped up exports in April ahead of expected tariffs, with import registrations of Chinese-made EVs increasing from April to May before declining, as shown by customs data.

Source: www.theguardian.com

Is Elon Musk alienating potential Tesla customers with his rhetoric? | Automotive industry

pictureRon Musk has long been interested in right-wing politics and has enjoyed portraying himself as a contrarian showman. However, his recent political affiliations have raised doubts about Tesla, the electric-car giant he founded. How much further can he push before customers start abandoning his product?

A German pharmacy chain, Rothmann, was among the first to speak out this week. The family business announced that it would not expand its fleet of 34 Tesla cars after Musk publicly supported Donald Trump for US president.

Rothmann’s spokesperson, Raul Rothman, wrote, “Mr. Trump has consistently denied climate change, which contradicts Tesla’s mission to protect the environment by producing electric vehicles.”

Musk’s support for Trump was followed by controversial posts about far-right riots in the UK. He made remarks like “Civil war is inevitable,” which sparked criticism from politicians across the spectrum. Musk engaged with far-right figures, raising concerns among some consumers.

Some Tesla owners are now reevaluating their choice of vehicle due to Musk’s recent behavior.

Given the divisive nature of Mr. Musk’s comments and his apparent enjoyment of creating discord, we have decided to discontinue our relationship with Tesla.”

Tesla has been reached out to for comment.

In online forums, Tesla owners debate the impact of Musk’s politics on the brand. Some have created bumper stickers like “I bought this before I knew Elon was crazy.”

David Bach, a strategy and political economy professor at IMD, noted that Musk’s recent behavior sets him apart from other CEOs. Musk’s actions have garnered mixed reactions, especially in the UK.

Tesla’s sales in the UK account for a small portion of its global business. Musk’s involvement in US politics, particularly with Trump, could have significant repercussions for Tesla.

Despite Musk’s polarizing comments, some consumers still support Tesla. However, there are concerns about the potential impact on business.

Musk’s actions have already affected X and could impact SpaceX as well. Some industry insiders believe that Musk’s current path could eventually lead to a decline in Tesla’s sales.

Source: www.theguardian.com

Tesla refuses to release batteries, denying owners full benefits

In Australia, Tesla battery owners may lose a profitable revenue stream due to restrictions placed by a U.S. energy company on local third-party transactions for their equipment. Additionally, there is uncertainty regarding the establishment and enforcement of standards by authorities.

Modern appliances like air conditioners, water heaters, and solar panels can now be remotely controlled, allowing consumers to engage in contracts that compensate them for adjusting their electricity usage, including supplying power back to the grid during peak times.

Although Tesla must achieve battery interoperability in various U.S. states, sources suggest that the company has disabled this feature on their flagship $15,000 Powerwall 2 battery sold in Australia.


To maximize benefits for consumers and the electric grid in the future, experts suggest that federal and state governments should enforce U.S. obligations on Tesla and other battery suppliers based on IEEE 1547-2018 Article 10 standards. Companies limiting utilities should not qualify for rebates. New South Wales offers subsidies of up to $2,400 per battery through their program.

Dean Spaccavento, CEO of Reposite Power, argues that batteries with closed control ports can restrict business models and harm owners. There are limitations to mitigating the battery issue through third-party providers who manage virtual power plants, where Tesla is a dominant player.

Government intervention is deemed necessary to mandate local control interfaces for batteries under rebate programs. Reposite Power avoids using Tesla batteries due to the company’s stance in the U.S.

Tesla has been contacted for comment by Guardian Australia.

The Australian Energy Market Operator emphasizes the potential of cooperative Consumer Energy Resource storage in their recent Grid Blueprint announcement.

Effective coordination and management of CERs are crucial for a cost-effective energy transition, as highlighted by Aemo. Home batteries with cloud control capabilities could be remotely activated with a software command, potentially causing conflicts and financial losses.

The adoption of interoperability standards in Australia’s energy products is expected to bring significant benefits, according to experts.

This story was updated on 7 July 2024 to clarify calls from industry stakeholders for battery suppliers to adhere to IEEE1547-2018 Clause 10 standards rather than AS4777 connection standards.

Source: www.theguardian.com

Despite price cuts, Tesla experiences second consecutive quarter of sales decline

Despite price cuts and low-interest financing offers, Tesla’s global sales have declined for two consecutive quarters, indicating weakening demand for its products and electric vehicles in general.

The company, based in Austin, Texas, reported sales of 436,956 vehicles from April to June, a 4.8% decrease from the same period last year. While this beat analyst expectations of 436,000 units, the demand for electric vehicles is slowing globally, with Tesla facing more challenges due to its older model lineup and higher prices.

Despite the decline, Tesla remains the top-selling electric car maker in the world, selling over 910,000 cars in the first half of the year. The company also managed to sell more vehicles than it produced in the second quarter, leading to reduced inventory levels.

Tesla’s sales decline comes amidst increased competition from other automakers, both established and emerging, aiming to gain market share in the EV industry. The company is set to report second-quarter earnings on July 23.

While sales were primarily driven by the Model 3 and Model Y, the more expensive models like the X, S, and new Cybertruck saw limited sales. Price cuts introduced by Tesla in April did not prevent the sales decrease, with the company also reducing the price of its “full self-driving” system during the quarter.

Analysts attribute Tesla’s sales challenges to the saturation of early adopters owning EVs and skepticism among mainstream buyers about EV capabilities. The company’s minimal model lineup changes and price cuts leading to decreased used car prices have impacted its sales performance.

Analyst Dan Ives views the second-quarter sales as a positive turnaround for Tesla, suggesting that the company’s cost-cutting measures have improved its profitability. While Tesla expects slower revenue growth this year, the outlook for the company seems optimistic following the recent sales performance.

Source: www.theguardian.com

Tesla asserts Elon Musk was awarded a $56 billion compensation package even though a judge found it to be invalid.

According to court documents released on Friday, Tesla Inc. states that Elon Musk has emerged victorious in a legal battle over his $56 billion compensation package. This victory comes after shareholders voted in favor of the pay, despite a judge previously setting it aside earlier this year.

The company’s submission comes following Tesla shareholders’ approval of his stock option package for 2018, conducted two weeks ago. This decision was made after a Delaware judge voided the compensation in January due to alleged mismanagement by Musk during negotiations and misleading shareholders about critical details.

The ongoing lawsuit has strained Musk’s relationship with Tesla, as the company grapples with declining sales and mounting competition. Musk has hinted at developing products outside of Tesla if he fails to secure a larger ownership stake.

In its proposal, Tesla has outlined to Delaware Chancery Court Judge Katherine McCormick how the final order should be drafted to implement her January ruling. The company argues that the order should declare “judgment is entered in favor of the defendants.”

Shareholders’ lawyers are urging the judge to uphold the previous ruling that invalidated Musk’s compensation package. They are seeking a directive for Tesla to issue billions of dollars in Tesla stock to cover legal expenses.

Tesla has suggested a fair fee of up to $13.6 million.

McCormick has instructed both parties to prepare briefs discussing the impact of the shareholder vote on the case and to schedule oral arguments on the matter in late July or early August.

Oral arguments on costs are set for July 8, with a decision likely to be reached after several weeks. Even if the January ruling remains unchanged, McCormick may acknowledge that the shareholder vote indicates little merit in winning the case, as Tesla shareholders appear to desire substantial compensation, which could undermine the plaintiffs’ attorneys’ fee claim based on the value they have provided by overturning the compensation packages.

Source: www.theguardian.com

Elon Musk’s $45 Billion Compensation Package Approved by Tesla Shareholders

Tesla shareholders have given their approval to a contentious referendum regarding CEO Elon Musk’s leadership, resulting in an agreement to pay him $45bn (£35.3bn).

The results, which were released on Thursday, reflect a struggle for the billionaire tycoon to retain the largest compensation package ever awarded to an executive at a publicly traded U.S. company.

“First of all, I want to say I love you guys so much!” said Musk, expressing his elation as he took the stage after the vote.


The vote followed a ruling by a Delaware judge in January that invalidated a previous payment to Musk, which was then valued at about $56bn (£439m), citing lack of board independence from Musk’s influence and an unlawful process in reaching the amount.

The outcome is seen as a win for Musk and the Tesla board, who actively lobbied shareholders to support the deal. It could potentially challenge the judge’s decision to nullify the payment and aid in demonstrating that shareholders were adequately informed about the payment and directors’ relationships with Musk prior to voting.

Tesla’s board cautioned that Musk may sever ties with the company if the package was not approved, but Musk asserted he had substantial backing from investors.

Despite opposition from major shareholders like Norway’s sovereign wealth fund and the California State Teachers Retirement System, as well as proxy advisory firms Glass Lewis and Institutional Shareholder Services, the vote does not automatically guarantee the release of the funds, and further legal debates are expected.

The vote may trigger additional litigation that could prolong legal proceedings, and the approval of relocating Tesla’s legal headquarters from Delaware to Texas could complicate the matter further.

Tesla initially introduced Musk’s compensation package in 2017, which included stock options based on meeting specific company goals. The package was approved by shareholders in 2018 but faced legal challenges alleging board deception and unfairness.

Judge Katherine McCormick of the Delaware Chancery Court criticized Tesla’s board process for determining Musk’s compensation, highlighting conflicts of interest and close relationships with Musk’s associates. Despite this, the board aims to challenge Judge McCormick’s ruling.

Source: www.theguardian.com

Elon Musk Confirms Tesla Shareholders to Vote on $56 Billion Compensation Package

Tesla shareholders are set to approve Elon Musk’s $56 billion remuneration package by a significant margin before the company’s important annual general meeting later today. The compensation package, the largest ever granted to a CEO of a U.S. company, will be subject to an investor vote after being previously rejected by a U.S. court this year. Shareholders will also vote on Musk’s proposal to relocate Tesla’s legal base to Texas.

Several investors, including Norway’s sovereign wealth fund and the California State Teachers Retirement System, have indicated their intent to oppose the compensation package. Proxy advisory firms Glass Lewis and Institutional Shareholder Services have also advised shareholders to reject the pay.

On the eve of the meeting, Musk suggested on X (formerly Twitter) that investors overwhelmingly supported both the compensation package and the Texas relocation: “Both Tesla shareholder resolutions have now passed by large margins! Thank you for your support!!”

The results will be disclosed at Tesla’s headquarters in Texas at 4:30pm ET (9:30pm UK time).

Even if the remuneration package is approved, Musk may encounter further obstacles, including potential litigation. Legal experts doubt that the Delaware court that rejected the initial package would accept a new, nonbinding vote to reinstate it.

Originally approved by Tesla’s board in 2018, the compensation has faced legal challenges from shareholders. Judge Kathleen McCormick of Delaware raised concerns about the size and necessity of the package in her January ruling.

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In her ruling, McCormick questioned the necessity of the compensation plan, stating, “Perhaps swayed by the ‘all-positive’ rhetoric or enthralled by Musk’s superstardom, the board never asked the $55.8 billion question: Was this plan truly necessary for Tesla to retain Musk and achieve its goals?”

Source: www.theguardian.com

Elon Musk’s Trip to China leads to Rapid Progress, a Turning Point for Tesla and the Auto Industry

Reports suggest that Elon Musk’s visit to China led to an immediate benefit with a deal for Tesla to utilize mapping data from Baidu, a major web search company, to introduce driver-assistance technology to the largest car market globally. This marks a significant advancement.

Over the weekend, Musk made a surprise visit to China. He shared a photo of his meeting with Chinese Premier Li Qiang on the social network X, which he acquired in 2022.

According to sources referenced by Bloomberg News, Baidu, a dominant force in Chinese web search, will offer mapping and navigation services to aid Tesla in implementing driver-assistance technology labeled as “Full Self-Driving” (FSD). The provision of mapping services, crucial for driver-assistance technology, is strictly regulated by the Chinese government.

Despite its name, FSD does not enable autonomous driving. It necessitates a driver who is prepared to take control at any moment. Launching in China could enhance Tesla’s position in the competitive market there and boost revenue. The service costs $8,000 or $99 (£80) per month, but is not accessible in many countries.

Musk has had confrontational interactions with politicians in the past, criticizing U.S. President Joe Biden and entering a dispute in Brazil over censorship issues on X, formerly Twitter. However, his approach towards China’s second-ranking official, Li, was more conciliatory, expressing being “honored” to meet him.

Musk’s interactions with China have been complex due to various business ties. X is blocked by the Chinese government due to strict censorship policies. Additionally, there were concerns from the Chinese government regarding an incident involving a satellite launched by SpaceX, Musk’s rocket company, coming close to their space station.

However, Tesla operates a factory in Shanghai, and its Model Y was the third best-selling electric or plug-in hybrid vehicle in China in March 2024, according to CleanTechnica. BYD, a Chinese competitor to Tesla in electric car sales, has two top-selling models.

The news of Musk’s visit and the partnership with Baidu were met with enthusiasm by Tesla investors, who view potential self-driving capabilities as crucial for Tesla’s position as the most valuable automaker globally. Tesla’s stock price rose by 6% in premarket trading in New York.

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Dan Ives, a technology analyst at Wedbush investment bank, mentioned in a client note that Tesla’s future standing relies heavily on FSD and autonomous driving. He emphasized the significance of making FSD accessible in China, a step that appears to be imminent.

Source: www.theguardian.com

How soon can Tesla introduce more affordable car options to the market? | Tesla

Tesla’s efforts to make electric cars more affordable are making progress.

After announcing plans to speed up production and start manufacturing low-cost EVs sooner than expected, Tesla’s stock price surged by 12% on Tuesday.

Investors are eager to see what Tesla has in store and how quickly these new vehicles will be available.

What is Tesla planning?

Tesla is reworking its production timeline to launch new models faster.

The company updated its vehicle lineup to accelerate the introduction of more affordable models before the previously projected start date of late 2025.

Elon Musk, President of Tesla, mentioned that production could begin as early as this year or by early 2025.

While details about the design and specifications of the new car remain scarce, it’s known that Tesla had previously discussed creating a cheaper vehicle, referred to as the Model 2, priced below $25,000.

How can I achieve this?

To ramp up production of affordable cars, Tesla may need to modify its Model 2 program.

The company aimed to implement a new manufacturing process that would reduce production costs by half, but this will require substantial investment.

Recent announcements indicate that Tesla plans to build the new vehicle on its current production line, steering away from innovative manufacturing technologies.

Some experts believe this shift signals the abandonment of the Model 2 plans in favor of continuing to produce existing models.

How much does a more affordable car cost?

The exact price of the upcoming “more affordable” model remains unknown, but Tesla initially aimed for a $25,000 price tag to compete with Chinese electric vehicle manufacturers.

However, revised plans suggest that cost savings may not meet previous expectations.

Source: www.theguardian.com

Tesla sees largest revenue decline since 2012, yet stock prices remain on the rise

After the earnings release, Tesla stock plummeted by 10% in after-hours trading on Tuesday. This was despite missing Q1 2024 sales, having sharply lower profits, and recalling the recently launched $100,000 Cybertruck, which had seen a recent rise.

The electric vehicle maker’s revenue stood at $21.3 billion, slightly below expectations of $21.48 billion and down by 9% from a year ago, marking the largest decline since 2012. Profits were reported at $1.1 billion, a 55% drop from the first quarter of 2023, the company announced.

Despite the disappointing figures, the report also included upbeat news for investors. This included a preview of a ride-hailing app set to be integrated into Tesla products. The company revealed plans to bring new vehicle models to the market sooner than anticipated, citing the development of its robotaxi network.

Over the past three months, Tesla has doubled its AI computing capacity (smart software complexity) and invested $1 billion in AI infrastructure during the same period.


Thomas Monteiro, senior analyst at the company, mentioned that Tuesday’s report and Tesla’s plans to accelerate the development of more affordable vehicles helped alleviate some concerns among investors. “This announcement suggests that Elon [Musk] may refocus on the EV giant, which is positive news for shareholders,” he stated.

The earnings report was Tesla’s second since the launch of the Cybertruck, its long-awaited electric pickup truck. It was also the first report after the vehicle’s recent recall. The company faced challenges with the futuristic steel car, including a voluntary recall due to reports of a loose accelerator pedal potentially causing vehicles to become stuck when driving at full speed. Despite this, the company did not directly address the recall in its earnings release.

Even without the Cybertruck issues, Tesla has a tough year ahead as it announced a 10% reduction in its global workforce, affecting approximately 14,000 jobs. The company also slashed prices globally over the weekend. The entry of Chinese electric car manufacturers into the market has added to Tesla’s struggles in recent quarters.

Tesla reported a decrease in car deliveries for the first time in four years in the last quarter. The company warned that the growth rate in car sales could be considerably lower compared to 2023.

Addressing concerns about his workload, Elon Musk stated during the earnings conference, “Tesla consumes the majority of my work time. I work every day. I will ensure that Tesla prospers.”

Source: www.theguardian.com

Tesla experiences decrease in sales following a tumultuous week and global price reductions.

Tesla has reduced prices on three of its five models in the U.S. and globally, including in China and Germany, due to declining sales, a Cybertruck recall, and increasing competition in the electric vehicle market. The price cuts have affected the Model Y, Model X, and Model S, while the Model 3 and Cybertruck prices remain unchanged.

The Model Y now starts at $42,990, the Model S at $72,990, and the Model X at $77,990 following the price reductions. Tesla also slashed the price of its “fully self-driving” software in the U.S. from $12,000 to $8,000.

In China, the starting price of the updated Model 3 was reduced by 14,000 yuan ($1,930) to 231,900 yuan ($32,000). Meanwhile, in Germany, the price of the rear-wheel-drive Model 3 dropped to 40,990 euros ($43,670.75) from 42,990 euros.

The price cuts extend to many other countries in Europe, the Middle East, and Africa, as Tesla tries to boost sales following a decline in global car deliveries in the first quarter of the year.

The series of price reductions come amidst challenges for the company, including a Cybertruck recall due to issues with the gas pedal. This incident has added to Elon Musk’s recent troubles, with Tesla stock dropping and criticism from investors mounting.

Analysts are awaiting the release of the Model 2, a smaller electric car expected to cost around $25,000. Reports of Musk canceling the project have created uncertainty, but he has denied these claims.

Tesla is set to announce its first quarter results soon, with expectations of a significant drop in sales compared to the previous year, marking the first decline in quarterly sales in about four years for the company.

Contributed by Kari Paul report

Source: www.theguardian.com

Elon Musk seeks shareholder approval for $56 billion payout from Tesla, judge rejects request

Tesla is seeking shareholders’ re-approval for CEO Elon Musk’s hefty $56 billion compensation plan from 2018, which was previously rejected by a Delaware judge in January for being excessive and unjustified.


Musk’s compensation, tied to Tesla’s market value increase to $650 billion over the next decade, currently stands at over $500 billion, according to LSEG data, excluding salary or cash bonuses.

The rejection from Delaware Court of Chancery’s Kathleen McCormick criticized the board’s decision, deeming the compensation “incalculable” and unfair to shareholders.

Tesla’s move for a fresh shareholder vote appears to bolster support for Musk’s pay package and challenge the court’s ruling, which disapproved the largest corporate pay package in America.

In response to the court’s decision, board chair Robin Denholm expressed disagreement, stating that the ruling did not conform to corporate law principles.


In 2023, Musk’s compensation was recorded as $0, as he does not draw a salary but is compensated through stock options. The court case also mentioned Musk’s involvement in an attempt to disrupt Twitter Inc.’s acquisition deal.

Tesla is suggesting a re-vote on the original 2018 compensation package, contemplating legal considerations, as well as seeking approval from shareholders to relocate its state of incorporation from Delaware to Texas.

Ahead of the market opening, shares of the leading automaker rallied by 1%.

This year has been challenging for Tesla, with reports of underperforming against market expectations and observing its first decline in deliveries in four years, prompting a workforce reduction of 14,000 employees. The broader electric vehicle industry has also experienced a slowdown, with major players like Ford revising their plans.

Meanwhile, Apple scaled back its self-driving electric car project, leading to layoffs, indicating a shifting landscape in the electric vehicle sector.

Source: www.theguardian.com

Elon Musk aims to streamline Tesla with 14,000 job cuts to create a more efficient automaker

Tesla, the electric car manufacturer, is reducing its global workforce by more than 10%, which is approximately 14,000 jobs, in response to decreased demand and pricing pressures. CEO Elon Musk made this announcement in a memo that was initially reported by Elektrek. Tesla currently employs 140,473 individuals, as stated in its annual report.

Musk explained that Tesla’s rapid growth led to duplicated roles and responsibilities, necessitating these layoffs. He noted, “There’s nothing we hate more, but it has to be done. This allows us to be lean, innovative, and greedy for the next cycle of growth.”

This decision comes after a challenging start to the year for electric car companies, with Tesla reporting lower-than-expected car deliveries in the first quarter of 2024. The company attributed this decline to production challenges and a slowdown in global demand.

According to critics, including Ross Gerber from Gerber Kawasaki, Tesla’s sales dip in a growing economy highlights concerns about lack of advertising, competition, and leadership. The company aims to boost profit margins amidst price cuts and increased competition.

The layoffs reflect the broader trend of slowing growth in the electric vehicle market, impacting Tesla’s performance. Tesla’s stock has seen a decline in value, losing around a third of its market capitalization this year.

Additionally, Reuters reported that BP is scaling back its electric vehicle charging business, reducing its workforce by more than 10% to focus on commercial electric vehicles. The company cited a need for greater precision and effectiveness in achieving its goals.

Tesla has facilities across the US, Germany, and China. The company has not yet responded to requests for comment.

Source: www.theguardian.com

Elon Musk relocates SpaceX to Texas following reduction of $56 billion compensation to Tesla by Delaware judge

SpaceX, the rocket company, has relocated its corporate headquarters from Delaware to Texas, as announced by CEO Elon Musk.

Musk stated, “SpaceX has moved its state of incorporation from Delaware to Texas. If your company is still incorporated in Delaware, we recommend moving to another state as soon as possible.” This announcement was made on the platform.

This move comes after a Delaware judge ruled in favor of Tesla investors in a lawsuit alleging that Musk’s $56 billion compensation was excessive. Musk, who also serves as Tesla’s CEO, recently announced plans for a shareholder vote to move Tesla’s corporate domicile to Texas as well.


Musk also mentioned, “The people’s vote is unequivocally in favor of Texas! Tesla intends to immediately conduct a shareholder vote to move its incorporated state to Texas.” This statement was made earlier this month after a public opinion poll indicated support for the incorporation change.

In January, a Delaware judge nullified Musk’s compensation package, citing improper actions by the electric car maker’s board of directors.

This decision follows a lawsuit filed five years ago by Tesla shareholder Richard Tornetta, accusing Musk of improperly directing negotiations over his compensation package and the board of directors of lacking independence.

Musk’s compensation deal with Tesla is the largest ever for an executive, contributing significantly to his fortune, which ranks among the largest in the world. Musk testified at his compensation trial in November 2022 that the money would be used to fund interplanetary travel.

Neuralink, Musk’s brain chip implantation company, also moved its location from Delaware to Nevada last week.

Reuters contributed to this report

Source: www.theguardian.com

Viral Video of Tesla Driver Using VR Headset Prompts US Government Alert

U.S. Transportation Secretary Pete Buttigieg said on Monday that human drivers should always use caution after videos surfaced of people driving Teslas wearing what appears to be Apple’s recently released Vision Pro headset. He said he needed to pay.


Buttigieg responded on Twitter/X to a video that has been viewed more than 24 million times that shows a Tesla driver seemingly gesturing with his hands to manipulate a virtual reality field.

Buttigieg said on Monday that Tesla’s self-driving assist features (Autopilot, Enhanced Autopilot, Full Self-Driving), despite their names, do not mean the vehicle is fully self-driving. said on social media.

“Be careful – all advanced driver assistance systems available today require a human driver to be in control and fully engaged in the driving task at all times,” Buttigieg said.

Apple’s Vision Pro was released last week and blends three-dimensional digital content with views of the outside world. Apple, which says it should never be used while operating a moving vehicle, did not respond to a request for comment.

Note: All currently available advanced driver assistance systems require the human driver to be in control and fully engaged in the driving task at all times. pic.com/OpPy36mOgC

— Secretary Pete Buttigieg (@SecretaryPete) February 5, 2024


According to Apple’s Alan Dye, the Vision Pro will work as a headset that allows users to interact with “apps and experiences” in an augmented reality (AR) version of their surroundings or in a fully immersive virtual reality (VR) space. Vice President of Human Interface Design announced in June.

“Apple Vision Pro relies solely on your eyes, hands, and voice,” Dai said in June. “Browse your system just by looking. App icons come to life when you look at them. Just tap your fingers at the same time to select them and scroll them with a light flick.”

“Apple Vision Pro will change the way we communicate, collaborate, work, and enjoy entertainment,” said Apple executive Tim Cook. But the company didn’t intend for Vision Pro to change the way people commute.

Tesla did not immediately respond to a request for comment.

Buttigieg previously made similar comments about Tesla’s use of Autopilot. Tesla says its advanced driver features are intended for use by fully alert drivers who “keep their hands on the wheel and ready to take over at any time.”

Source: www.theguardian.com

Tesla issues mass recall of US vehicles over warning light malfunction

Nearly all Tesla vehicles sold in the U.S. are being recalled due to small warning lights in the instrument panel. The National Highway Traffic Safety Administration announced the recall of about 2.2 million vehicles on Friday, indicating increased scrutiny of electric vehicle manufacturers. Additionally, the agency upgraded its 2023 investigation into Tesla’s steering problems to a technical analysis, bringing it one step closer to a recall.

The update in response to the recall will enhance warnings and alerts for drivers. The document from NHTSA highlights that the font size for brake, parking, and anti-lock brake warning lights is smaller than required by federal safety standards, potentially making important safety information difficult to read and increasing the risk of a collision. The agency identified the problem during a routine safety compliance audit on January 8th. While Tesla has identified three warranty claims related to the issue, there are no reports of crashes or injuries.

The recall to fix the warning light issue will be done through a software update, affecting multiple models from 2012 to 2024. Tesla has already started releasing software updates, and owners will be notified by letter starting March 30th.

Following the announcement of the recall, Tesla’s stock fell another 2.7% in early trading on Friday, reaching its lowest level since May of last year.

In addition to the warning light issue, Tesla has faced scrutiny for its Autopilot system. Last December, NHTSA pressured Tesla to recall over 2 million vehicles for software updates and fixes related to the flawed system designed to make drivers more careful when using Autopilot. The recall was prompted by a two-year investigation into crashes involving the use of Autopilot, some of which were deadly.

Additionally, Tesla is recalling over 1.6 million electric vehicles exported to China due to problems with automatic assisted steering and door latch controls. The State Administration for Market Regulation in China announced the recall in early January, with Tesla planning to use remote upgrades to resolve the issue.

Overall, Tesla has faced challenges in addressing various safety concerns with its vehicles, including steering problems and Autopilot system issues, leading to substantial recalls and regulatory scrutiny.

Source: www.theguardian.com

Tesla facing lawsuit from 25 California counties over alleged mishandling of hazardous waste

A group of 25 California counties has sued Elon Musk’s Tesla, accusing the electric car maker of mishandling hazardous waste at its facilities in the state.

The lawsuits from Los Angeles, Alameda, San Joaquin, San Francisco and other counties were filed Tuesday in California state court. The company is seeking civil penalties and an injunction that would require it to properly dispose of its waste in the future.


Tesla did not immediately respond to a request for comment.

The counties accused Tesla of violating the state’s Unfair Business Practices Act and Hazardous Waste Management Act by improperly labeling the waste and sending the material to landfills that cannot accept hazardous materials. California’s Hazardous Waste Management Act can result in civil penalties of as much as $70,000 per day for each violation.

The waste generated or processed at the facility includes paint materials, brake fluid, used batteries, antifreeze, diesel fuel and more, according to the county.

The complaint alleges violations occur at 101 facilities, including Tesla’s manufacturing plant in Fremont. Spokespeople for each county did not immediately provide additional details about the incident.

The lawsuit is not the first time Tesla has faced allegations related to its hazardous waste management practices.

The company reached a settlement with the U.S. Environmental Protection Agency (EPA) in 2019 over alleged federal hazardous waste violations at its Fremont plant. In that agreement, Tesla agreed to take steps to properly manage waste within its facilities. and pay a $31,000 fine..

Tesla subsequently filed a lawsuit with the Environmental Protection Agency in 2022 after federal officials alleged it failed to maintain records and implement plans to minimize air pollutants from paint operations at its Fremont factory. They reached an agreement and agreed to pay a penalty of $275,000.

Source: www.theguardian.com

Elon Musk’s $56 billion compensation for Tesla deemed excessive by judge

In a court filing on Tuesday, a Delaware judge ruled in favor of investors who contested Elon Musk’s $56 billion pay package from Tesla, stating that it was excessive. The judge concluded that the compensation had been improperly established by Tesla’s board of directors and revoked it. If the decision is upheld in a potential appeal, Tesla’s board would need to create a new compensation plan for Musk.


Elon Musk responded on Twitter/X, saying, “Never incorporate a company in Delaware.”

Five years ago, Tesla shareholder Richard Tornetta filed a lawsuit accusing the company’s CEO, Elon Musk, of improperly directing negotiations on compensation packages and the board of directors lacking independence. The court’s decision directed Tornetta to cooperate with Musk’s legal team regarding the judge’s order, which can be appealed to the Delaware Supreme Court.

Musk’s compensation trial in November 2022 revealed that the money would be used to fund interplanetary travel. He testified, “This is how we’re going to get humans to Mars, so Tesla can help potentially achieve that.”

Tesla’s board argued that the package was necessary to keep Elon Musk committed to the electric car maker. The judge disagreed, noting that the defense failed to prove the need for such an unprecedented compensation plan. She instructed the parties to work on the final order implementing her decision.

The plaintiffs’ legal team also argued that the board had a duty to either reduce Musk’s salary or find another CEO and ensure that he worked full-time at Tesla instead of focusing on other projects.

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Amit Batish of executive compensation research firm Equilar estimated in 2022 that Musk’s package was about six times the combined compensation of the 200 highest-paid executives in 2021.

In July, Tesla directors agreed to return $735 million to the company to settle shareholder claims that the company had overpaid in a separate lawsuit.

Source: www.theguardian.com

Elon Musk and Bob Iger’s Feud Leads to Tesla Removing Disney+ from Screen

The Disney+ app has been removed from video displays in some Tesla cars, with some drivers complaining they were caught in the middle of a nasty feud between CEO Elon Musk and Disney president Bob Iger. It’s leaking out.

A Tesla owner posted on Musk’s social media platform X a screenshot of the vehicle’s video screen showing the Disney+ app missing.

“So, Disney+ has been removed from my Tesla,” an X user using the account name “The Tesla Hoe” posted over the weekend.

“I think this is retaliation for Disney pulling advertising from Company X (which they have a right to do).”

A Tesla owner lamented the fact that “we have to let young children know what’s next.” [that] You can’t sit in a Tesla and watch Disney+ and deal with their upset emotions.

“Because two grown men can’t have a civil discussion and move on. These happens like a tantrum,” @TheTeslaHoe continued. “And now Tesla owners feel like they’re caught in the crossfire of something that’s not their fault at all.”

Tesla owners reported over the weekend that the Disney+ app was removed from their cars’ theater screens. Tesla Theater/YouTube

Another Tesla fan with the username “Hall Mars Catalog” confirmed that the Model S does not include Disney+.

last week, Tesla-centric news site Electrek Tesla reportedly notified Disney of its decision to remove the Disney+ app from video displays, without providing an explanation as to why.

A subsequent post informed Tesla users that they could still access Disney+ by manually entering the URL into their car’s web browser.

But the Disney+ app, which typically appears alongside major platforms like Netflix, Hulu, YouTube, and TikTok, is no longer visible on theater home screens.

The Post has reached out to Disney and Tesla for comment.

During an appearance at the business conference DealBook Summit on Nov. 29, Musk told companies that have stopped advertising on X to “take a hard look at themselves.”

A Tesla owner posted a screenshot of a theater screen without the Disney+ app installed. The image above is a stock photo of a Tesla theater screen. Tesla Theater/YouTube

Earlier in the day, Iger told Dealbook that Disney’s decision to stop advertising on He said it had an impact on him.

“He took a very public position and we felt that the association of that position with Elon Musk and X was not necessarily a positive thing for us,” Iger said.

Musk has denied that he is an anti-Semite.

Musk was asked about companies that had stopped advertising on the platform following a Media Matters report that said their ads were running alongside pro-Nazi content.

Last month, Tesla CEO Elon Musk attacked Disney CEO Bob Iger after the Mouse House suspended Musk’s advertising on social media platform X. Getty Images for The New York Times

“If someone’s going to blackmail me with money, go fuck yourself,” Musk said, referring specifically to Iger.

A week after Musk appeared on DealBook, the Mouse House began advertising on rival social media platforms Facebook and Instagram, even though those sites had allowed the targeting of underage users. Mr. Musk publicly called on Disney to fire Mr. Iger after a lawsuit alleges that he had published the following.

“Bob Iger thinks it’s cool to run ads next to child exploitation material. A real stand-up guy,” Musk posted, misspelling the longtime media mogul’s name. did.

Source: nypost.com

Wife alleges that her abusive spouse stalked her due to Tesla technology

In May 2020, San Francisco Police Department Sergeant David Radford reached out to Elon Musk requesting data regarding remote access to a Tesla vehicle involved in an incident. The automaker was asked to provide information about a suspected stalker’s use of the vehicle. The woman involved in the incident had reported that her abusive husband had been tracking and harassing her using technology in his 2016 Tesla Model X, in violation of a restraining order. She found a metal baseball bat in the back seat of the car, which was the same one her husband had used to threaten her in the past.

Despite the woman’s request for information from Tesla, Radford had difficulty obtaining the data needed for the investigation. According to a lawsuit filed by the woman, a Tesla service manager stated that remote access logs were only available within a certain time frame. As automakers develop more advanced features allowing for remote access and location tracking, the potential for these technologies to be used for abusive purposes becomes a concern. Cases of stalking involving vehicle technology have been reported, prompting increased attention from law enforcement, advocates, and policymakers.

The woman later filed a lawsuit against her husband and Tesla, seeking damages for negligence and failure to restrict her husband’s access to the vehicle’s technology despite the restraining order. The woman’s requests to disable her husband’s account and access remote data logging were denied by Tesla, leading to legal action. The lawsuit was eventually settled, with details of the settlement kept undisclosed.

In other cases, individuals have reported incidents of stalking using vehicle technology, prompting concerns about the potential for abuse and inadequate policies to address such issues. As automakers and tech companies continue to introduce new features and products for tracking and remote access, there is a need for clear policies and safeguards to prevent misuse and protect individuals from potential harm.

Source: nypost.com

Tesla issues a recall for 120,000 vehicles over concerns of doors unlocking in the event of a crash

Tesla is recalling 120,423 vehicles in the United States due to the risk of doors unlocking in the event of a crash, according to a report on Friday.

According to Reuters, the country’s traffic safety regulator, the National Highway Traffic Safety Administration, on Friday announced a recall affecting 2021-2023 model year Model S and Model It said it did not meet federal safety standards. .

Tesla has released an over-the-air software update to address this issue.

Tesla last week carried out the largest recall ever in the Elon Musk-led company’s 20-year history, recalling more than 2 million vehicles in the U.S. and nearly all vehicles on U.S. roads. Vehicles were targeted.

Federal regulators say Tesla’s advanced driver-assistance system, Autopilot, has “inadequate” safeguards against misuse, and the company is warning drivers to remain on the road even when Autopilot is engaged. A voluntary recall has been launched to carry out “additional inspections” to remind people to be careful.

According to the Washington Post, NHTSA wrote last week that activating the driver-assistance system Autopilot “may increase the risk of a collision,” adding, “The driver is not responsible for operating the vehicle and is at risk of an accident.” “I’m not ready to intervene.” need. “

The recall applies to 2021-2023 Model S (above) and Model X vehicles, which do not meet certain federal safety standards for side-impact protection. AP
Model X is also subject to a recall. AP

Other major automakers also announced recalls this week.

Toyota Motor Corp. said Wednesday it is recalling 1 million vehicles due to a defect that could prevent airbags from deploying if a sensor in the passenger seat shorts out. According to the Associated Press, the recall applies to Toyota Avalon, Camry, Highlander, RAV4, Sienna, Corolla, and some hybrid versions of these models, as well as some Lexus models such as the ES250 sedan and RX350 SUV. It is said that she is a model.

Honda on Monday said it was shutting down more than 2.5 million vehicles due to fuel pump problems that could cause the engines to not start or stall while driving, increasing the risk of crashes and injuries, NHTSA said. announced that it had been recalled.

Elon Musk’s Tesla recalled more than 2 million vehicles last week over concerns about Autopilot. Getty Images

General Motors is discontinuing sales of some 2024 Chevrolet Silverado and GMC Sierra trucks due to concerns about cracking metal in the passenger-side roof, according to a document released Wednesday by NHTSA. As a result, approximately 3,067 vehicles will be inspected.

Last month, Toyota recalled 1.9 million RAV4 SUVs due to battery deterioration that could cause a fire.

Source: nypost.com

Tesla requests a break in federal racial discrimination lawsuit to focus on finalizing other legal matters

Tesla wants to suspend a federal lawsuit against it for racial bias against black workers at its Fremont assembly plant.

The electric car maker said in a filing Monday in San Francisco federal court that the U.S. Equal Employment Opportunity Commission (EEOC) filed a lawsuit against Tesla in September as part of “harmful interagency competition” with the California civil rights agency. accused of rushing. The company sued the automaker last year on similar grounds.

The EEOC’s lawsuit alleges that Tesla violated federal law by condoning widespread and ongoing racial harassment of Black employees and retaliating against some employees who opposed the harassment. EEOC filings state that Black workers were accused of using slurs and epithets such as the N-word, variations such as “monkey,” “boy,” and “black bitch,” as well as racist graffiti that called for violence against Black people. There are detailed reports that it has withstood casual use. Other forms of abuse.

The California Civil Rights Division’s complaint against Tesla also includes similar examples of harassment from black workers.

Both lawsuits are pending in state court and allege that Tesla violated California anti-discrimination laws. The EEOC’s lawsuit also includes allegations that Tesla violated federal laws prohibiting racial discrimination and harassment in the workplace.

Tesla also faces a proposed class action lawsuit filed by workers in 2017 alleging racial harassment.

The EEOC did not immediately respond to TechCrunch’s request for comment.

Tesla’s Monday filing says a federal court should refuse to file a third lawsuit until the existing lawsuit is resolved. Lawyers for the automakers argued that prosecuting the three cases simultaneously would involve a “substantial duplication of effort,” risk “inconsistent court decisions,” and waste judicial resources.

Tesla is calling for something called the Colorado River Abstention Principle here. This is a legal principle that allows a federal court to recuse itself from hearing a case if there is a parallel case in a state court dealing with the same issue. The goal behind this principle is to avoid duplicative litigation and promote more efficient justice.

The turf battle Tesla refers to in its filing is between the EEOC and the California Civil Rights Department (CRD), formerly the Department of Fair Employment and Housing. The filing argues that historically the EEOC and CRD have worked together to protect entities from being subject to the same lawsuits from both agencies.

“That historic coordination and cooperation has disintegrated as agencies have become increasingly eager to file headline-grabbing complaints and report multi-million dollar settlements,” the filing said. It is stated in

Tesla has repeatedly denied wrongdoing in multiple racial discrimination incidents. Monday’s filing called the allegations “false” and accused the EEOC of “hastily covering them up.”[ping] Launching a bogus pre-litigation investigation. ”

The company is also appealing a $3.2 million award in a separate racial bias lawsuit to a black former contractor at the Fremont plant.

Source: techcrunch.com

Volkswagen, Porsche, and Audi to implement Tesla charging standards

Volkswagen Group is the latest automaker to announce it will adopt Tesla’s so-called North American Charging Standard (NACS), and one of the last major automakers to adopt what is now the de facto EV plug in the United States. It becomes.

The German giant announced on Tuesday that future vehicles from its brand portfolio, which includes Audi, Porsche and the group’s emerging EV business Scout Motors, will include NACS charging ports from 2025.

Volkswagen Group was one of the last holdouts, but its charging network, Electrify America, recently announced plans to adopt the NACS standard. This is a strong sign that automakers aren’t far behind.

The announcement comes at the tail end of a queue of other automakers jumping on the charging standard, after Tesla announced last year that it would open up access.

Ford started this trend in May 2023 by announcing that EV owners would soon be the first to have access to approximately 12,000 Tesla chargers through adapters. Ford added that its next-generation EVs will be integrated with Tesla’s charging ports, called the North American Charging Standard (NACS), starting in 2025. Since then, major automakers such as GM, Rivian, Honda, Mercedes, Hyundai, Kia, Toyota, and recently Subaru have made their own announcements leveraging Tesla’s charging standards. Lucid, a small luxury EV company, announced in November that it would adopt the NAC standard.

Stellantis, the parent company of numerous brands including Jeep, Ram, Chrysler and Peugeot, does not participate in the NAC standard. The company previously told TechCrunch that it was evaluating charging standards.

Source: techcrunch.com

Tesla issues widespread recall in response to Autopilot flaw following fatal Virginia crash and technology concerns.

Tesla has recalled nearly all vehicles sold in the United States to fix a flaw in Elon Musk’s electric car company’s Autopilot driver assistance system. The move comes after Virginia authorities discovered the vehicle’s software had been activated during a previous fatal crash. July.

The recall of more than 2 million vehicles, reportedly the largest in Tesla history, was revealed as part of an ongoing investigation by the National Highway Traffic Safety Administration.

The investigation, which began more than two years ago and includes an investigation into 956 crashes in which Autopilot was implicated, found that existing safety measures “may not be sufficient to prevent driver misuse of the software.” It was determined that there is.

“In certain situations, when Autosteer is activated and the driver is not responsible for operating the vehicle and is not prepared to intervene if necessary, or when Autosteer is canceled or activated. Failure to recognize when it is not present can increase the risk of a crash,” NHTSA said in a release.

Electric car manufacturer announces recall This will consist of an over-the-air software update that was expected to be rolled out on Tuesday or a little later. This update applies to Tesla Model 3, Model S, Model X, and Model Y vehicles manufactured in certain years, including those dating back to 2012.

NHTSA is still investigating the crash that led to the death of Pablo Teodoro III. WRC TV

The vehicle will be provided with “additional controls and warnings” to remind drivers to take precautions when using Autopilot, such as keeping both hands on the steering wheel and keeping their eyes on the road.

Tesla shares fell more than 1.5% in Wednesday trading before closing up 1%.

The announcement came on the same day that Virginia officials revealed that Autopilot was being used. Pablo Teodoro III, 57, crashed his Tesla into a tractor-trailer, causing a fatal accident. Authorities also determined that the Tesla vehicle was speeding before the accident.

Pablo Teodoro III had activated Autopilot before the fatal crash, officials said. Handouts to families

A spokeswoman for the Fauquier County Sheriff’s Office said Teodoro appeared to have taken action a second before the accident, but it was unclear what he did.

The investigation also found that the car’s systems “recognized something on the road and sent a message.”

NHTSA is still investigating the crash.

The recall also Washington Post’s shocking report Tesla claimed it was allowing Autopilot to be used in areas the software was not designed to handle.

Tesla is facing intense scrutiny over its Autopilot software. AP

The media claimed to have found at least eight fatal or serious accidents involving Tesla Autopilot on roads where “driving assistance software cannot reliably operate,” such as roads with hills or sharp curves.

In response to this article, Tesla defended the safety of its Autopilot software with a lengthy argued that “we have a moral obligation to keep improving what is already the best product.” -In-class safety system. ”

Elon Musk claims Autopilot is safe. Reuters

“The data is clear: the more automation technology provided to support drivers, the safer they and other road users will be,” the company said.

Tesla President Elon Musk reiterated that Autopilot is safe to use and emphasized the company’s commitment to developing driver assistance and fully self-driving features as an important part of the company’s long-term plans.

with post wire

Source: nypost.com

Tesla Announces Recall of Over 2 Million Cars in the US Due to Autopilot Safety Concerns | Science and Technology Update

Tesla is recalling more than 2 million vehicles in the United States over concerns about its advanced driver assistance system, Autopilot.

The National Highway Traffic Safety Administration (NHTSA) said the system’s methods of determining whether drivers are paying attention may be inadequate and could lead to “foreseeable abuse of the system.”

NHTSA is investigating Elon Musk’s Over two years, the company has suffered a series of crashes, some fatal, that occurred while using the Autopilot system.

tesla He said Autopilot’s software system controls “may not be sufficient to prevent driver misuse” and could increase the risk of a crash.

Tesla’s Autopilot is intended to allow the car to automatically steer, accelerate, and brake within the line, but while the enhanced Autopilot can assist with lane changes on the highway, self-driving It won’t be.

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From August: Tesla car catches fire ‘spontaneously’ at scrapyard

One of the Autopilot components is Autosteer, which maintains a set speed or following distance and works to keep the vehicle within its lane of travel.

Tesla disagrees with NHTSA’s analysis, but notes that “additional controls and warnings already exist in affected vehicles to further encourage drivers to comply with ongoing driving responsibilities each time Autosteer engages.” “We will deploy an over-the-air software update that incorporates this.” “I’m engaged.”

The update says it includes increased prominence of visual alerts on the user interface, easier activation and deactivation of Autosteer, and additional checks when Autosteer is activated.

Tesla added that the update will eventually result in a driver’s use of Autosteer being suspended if the driver “repeatedly fails to demonstrate continued and sustained driving responsibility while the feature is activated.” .

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The recall applies to models Y, S, 3, and X produced between October 5, 2012 and December 7 of this year.

The update was expected to be sent to some affected vehicles on Tuesday, with the remaining vehicles sent out later.

NHTSA will continue its investigation into Autopilot “to monitor the effectiveness of Tesla’s remedies,” the agency said.

Since 2016, regulators have investigated 35 Tesla crashes in which the vehicles were suspected of being driven on automated systems. At least 17 people were killed in the clashes.

It is unclear whether this recall affects Tesla vehicles in other countries, including the UK.

This is the second time this year Tesla recalls its vehicles In the United States.

Source: news.sky.com

Tesla and Elon Musk found aware of Autopilot system flaws by Florida judge

A Florida judge has ruled that Tesla and its executives, including CEO Elon Musk, knew that its vehicles were equipped with defective Autopilot systems. It found there was “reasonable evidence” to conclude that the vehicle had been allowed to operate in an area that was “unsafe for the technology”.

Palm Beach County Circuit Court Judge Reed Scott handed down the decision last week in a lawsuit filed by the family of a man who died in a crash while his Tesla was on Autopilot, alleging willful misconduct and gross misconduct. This means Tesla can seek punitive damages. procrastination. Reuters first reported the news.

The blow to Tesla comes after the electric car maker won two product liability lawsuits in California earlier this year over the safety of its Autopilot system. Autopilot is Tesla’s advanced driver-assistance system that can perform self-driving tasks such as navigating up and down highway ramps, controlling cruise control, changing lanes, and automatically parking.

The Florida lawsuit stems from a 2019 crash north of Miami. Owner Steven Banner’s Model 3 was crushed under the trailer of an 18-wheeler truck that had rolled onto the road, cutting off the roof of the Tesla and killing Banner. The trial, scheduled for October, was postponed and has not yet been postponed.

If the case goes to trial, it could reveal new information about the reams of data collected by Tesla, typically confidential information.

Judge Scott’s finding that Tesla’s top executives knew of the flaws could mean Musk will have to testify. According to the ruling, the judge found that Tesla’s marketing strategy portrayed the product as a self-driving car and that Musk’s public comments about Autopilot “significantly influenced his beliefs about the product’s capabilities.” said. The judge pointed to a misleading 2016 video that appeared to be directed by Musk that purported to show Teslas being fully self-driving through the Autopilot system.

The billionaire entrepreneur was not required to appear at the deposition after the judge rejected Banners’ argument that Musk had “independent knowledge” of the issues in the case.

The judge compared Banner’s crash to a similar fatal crash involving Joshua Brown in 2016, when Autopilot failed to detect a passing truck and the vehicle crashed into the side of a tractor-trailer at high speed. The judge also based his decision on testimony from autopilot engineer Adam Gustafson and Dr. Mary “Missy” Cummings, director of George Mason University’s Center for Autonomous and Robotics.

Gustafson, who was the investigator in both the Banner and Brown crashes, testified that in both cases Autopilot was unable to detect the semi-tractor and stop the vehicle. Additionally, engineers testified that even though Tesla was aware of the problem, no changes were made to the cross-traffic detection warning system that took cross-traffic into account from the date of Brown’s crash until Banner’s crash.

In the ruling, the judge said that testimony from other Tesla engineers showed that Musk, who was “intimately involved” in Autopilot’s development, was “acutely aware” of the problem but failed to remedy it. He said that a reasonable conclusion had been drawn.

A Tesla spokesperson could not be reached for comment.

The automaker will likely argue, as Tesla has done in the past, that Banner’s accident was the result of human error. A National Transportation Safety Board investigation into the accident found evasion to be at fault. The investigation found that the truck driver failed to yield the right of way and Banner was negligent because he relied too much on Autopilot. However, the NTSB also found that Autopilot did not send any visual or audible warnings to the driver to put his hands back on the steering wheel. bloomberg.

Tesla’s lawyers may rely on precedent set in two previous lawsuits this year that Tesla won.

Tesla secured a victory in April after a California jury found the company not liable for a 2019 crash involving Autopilot. Plaintiff Justin Su sued Tesla in 2020 for fraud, negligence and breach of contract, but was not awarded damages.

A few weeks ago, a jury sided with Tesla over allegations that Autopilot led to the death of Tesla driver Mika Lee in 2019. The two plaintiffs, survivors of the accident, claimed that Tesla knew its products were defective and sought $400 million in damages. Tesla claimed the accident was the result of human error.

The case — No. 50-2019-CA-009962 — is being heard in the Circuit Court of Palm Beach County, Florida.

Source: techcrunch.com

Tesla emerges victorious in jury trial regarding fatal accident involving autopilot

Tesla scored another victory Tuesday after a jury sided with the company over charges that its advanced driver assistance system, Autopilot, caused a fatal crash.

The lawsuit, being heard in California’s Riverside County Superior Court, was brought by two surviving passengers in a 2019 crash, alleging that Tesla knew its products were defective. The two survivors sought $400 million in damages for the driver’s loss of life, physical injuries, and emotional distress.

Tesla maintains that the crash that killed driver Mika Lee was the result of human error, and has taken a similar position in other Autopilot lawsuits.

Tesla has won other lawsuits, including a jury trial in California earlier this year that determined the automaker’s Autopilot system was not responsible for a 2019 crash. In that case, a jury awarded no damages to Los Angeles resident Justin Hsu, who sued Tesla in 2020 alleging negligence, fraud and breach of contract. The case, which concluded Tuesday, was the first to result in a fatality after a jury trial.

Tesla still faces a number of other lawsuits in California. That includes a wrongful death lawsuit filed by the family of Apple engineer Walter Huang, who was killed when his Tesla Model X, equipped with Autopilot, crashed into a highway median. The California Department of Transportation is also named in the lawsuit. The wrongful death lawsuit filed in California Superior Court in Santa Clara County alleges that the crash that killed Juan on March 23, 2018 was caused by an error in Tesla’s Autopilot driver assistance system. Huang, 38, died while driving a 2017 Tesla Model X. The vehicle crashed into a freeway barrier on Highway 101 in Mountain View, California. A jury trial in the case is scheduled to begin next year.

Tesla also faces scrutiny from federal and state regulators, all related to Autopilot and its upgraded version known as full self-driving.

Tesla cars come standard with a driver assistance system called Autopilot. Owners can purchase an enhanced autopilot for his $6,000 upgrade. It includes several other features, such as an active guidance system that navigates the car from highway on-ramps to exit ramps, including interchanges and lane changes.

For an additional $12,000, owners can purchase “Full Self-Driving” (FSD). This is a feature that CEO Elon Musk has been promising for years, one day delivering full self-driving capabilities.

Tesla cars are not self-driving. Instead, FSD includes a number of self-driving features that require the driver to be in control at all times. This includes all of the enhanced Autopilot, which is supposed to handle steering on city roads and recognize and react to traffic lights and stop signs.

Source: techcrunch.com