Calling the deal “unfathomable,” a Delaware court has blocked the $565 billion pay plan awarded Tesla CEO Elon Musk in 2018. The move could spell trouble for Musk’s current demand for 25% control of the EV maker while also raising concerns about his floundering social media site, X, which relied on loans backed by Tesla stock. More from Headlight.News.
This week on Headlight News we talk about Tesla’s tough week. During the company’s earnings call, CEO Elon Musk confirms the company’s well on its way to building a low-cost electric vehicle. Find out what happened and more at Headlight.News.
Airbags have saved so many lives during the past two decades, but they’ve also been the cause of the largest single automotive recall in history. Automakers are currently fighting an effort by federal safety regulators recall 52 million airbag inflators. It would be the second-largest recall. Get details at Headlight.News.
It all began with a simple report and ended in a four-year prison term. Nikola founder Trevor Milton was sentenced Monday after being found guilty of lying to the company’s investors after he made claims about the company’s technology that were untrue. Find out more at Headlight.News.
Cruise LLC, GM’s autonomous vehicle arm, continues to feel the impact of an October 2 crash that nearly killed a pedestrian in San Francisco. The robotaxi company will eliminate a quarter of its workforce in a bid to move onto “a more deliberate path with safety as the north star.” That includes nine senior executives cited in an ongoing safety investigation.”
Tesla is coming under more intense fire as a result of a series of crashes involving its Autopilot system. The NTSB wants the automaker to block its use on roads where it’s not safe to operate. And California regulators say the name, Autopilot, is itself false and misleading and should be changed.
The United Auto Workers is stepping up its campaign to organize workers in Southern states, filing a series of unfair labor practice complaints against Honda, Hyundai and Volkswagen as part of the effort. Headlight.News has details.
Facing declining demand for its Jeep Wrangler, Grand Cherokee and Gladiator models, Jeep says it will cut as many as 3,700 jobs at plants in Michigan and Ohio — and its putting at least some of the blame on California’s tough emissions rules.
A Florida man was arrested after taunting authorities “to stop me” before making a threat to commit what is being described as a “mass casualty” event during the roll-out of the new Tesla Cybertruck last week. More from Headlight.News.
A judge in Florida cited “reasonable evidence” that Tesla and its CEO Elon Musk knew the automaker’s Autopilot system had a potentially fatal defect, a finding that could create serious problems for Tesla as it faces the third trial this year over the semi-autonomous driving system.
Semi-autonomous system blamed for motorist’s death and two serious injuries. EV maker continues to deal with issues related to the technology. Get the details at Headlight.News.