When Tesla finally delivered the first Cybertruck 11 months ago it missed the mark in a number of ways, starting with range. While CEO Elon Musk originally promised a version that would clock 500 miles per charge, its currently delivering a max 301 miles. To get close to the original target would require purchasing a range-extender battery, Tesla said. But that now is missing the mark, too.
It’s a put-up-or-shut-up-day for Elon Musk as Tesla prepares to reveal its long-promised Cybercab, but the company has plenty of other challenges facing it right now, starting with the departure of four top-level executives leading an exodus of talent as insiders balk at the CEO’s increasingly erratic behavior.
Tesla announced a recall covering more than 27,000 vehicles. More precisely, 27,185 Cybertrucks. This marks the fifth time the all-electric pickup has faced a safety-related callback since the first dozen Cybertrucks were handed over to customers by Tesla CEO Elon Musk at the end of November 2023. And it comes at a time when Tesla has had more recalls than any other automaker.
As the CEO of Tesla and an outspoken advocate of green technology, Elon Musk developed a large and loyal fanbase and was frequently credited as a major force helping to build demand for the automaker’s EVs. But things have changed over the nearly two years since Musk purchased what was then Twitter and began a visible shift towards the political right. That’s changed perceptions of the South African-born Musk for many former fans. But is that costing Tesla sales? Headlight.News has this story.
The Tesla Cybertruck missed a number of earlier targets, coming in 50% more expensive than planned, while offering about a third less range than promised by CEO Elon Musk back in 2019. Now, the automaker is ready to address the range problem by offering a range-extender battery that sits in the forward part of the bed. But it creates other problems: adding substantial cost while reducing cargo capacity.
It will be up to a California court to determine the outcome of a long-running suit pitting two EV manufacturers, Tesla and Rivian. The bigger of the two has accused its rival of stealing trade secrets and a judge has ruled the case will have to go to trial after Rivian filed to get it dismissed earlier this week.
Tesla’s Cybertruck has gotten off to a rocky start since it finally started deliveries last November, two years late. And now, a new problem with its huge windshield wipers has forced the automaker to put deliveries of the all-electric truck on hold until it can figure out a solution.
Elon Musk celebrates yes vote by Tesla shareholders that secures his record-setting compensation plan after a judge in Delaware voided the proposed pay package in January.
A growing number of investors have announced they will vote against the $56 billion pay package Tesla’s board of directors wants to give CEO Elon Musk – though the South African-born executive insists he has lined up enough support for the proposals approval during a shareholder’s meeting this week. What happens if the plan is rejected? Musk already has fired a warning shot.
Elon Musk’s increasingly mercurial behavior is having a substantial impact on the Texas-based EV maker. But it may also have a serious impact on the Tesla CEO himself as shareholder resistance grows to the $50 billion pay package the automaker wants to give Musk. A key investor, and former Musk “fanboy,” voting no.
Tesla embarks on company wide hiring freeze as the EV maker struggles with mounting investigations, slumping demand, and a decrease in profits.
Tesla launched yet another round of layoffs this week as CEO Elon Musk struggles to compensate for slowing sales and a 55% drop in first-quarter earnings. The latest cuts mean Tesla will see total U.S. employment drop as much as 20%, according to one report, with some departments, including its Supercharger operations, eliminated entirely.