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.
Just days after firing the head of Tesla’s Supercharger operations – and dismissing her entire 500-person staff – CEO Elon Musk appeared to reverse course, announcing on his social media site X that the automaker still will invest “well over” $500 million on “new sites and expansions” of the public charging system. The apparent turnaround comes as Tesla comes under increasing pressure from Tesla investors, analysts, owners and other automakers who have done deals to gain access to the Supercharger network for their own EV customers.
Tesla delivered a shock this week when word leaked out CEO Elon Musk was effectively closing down several departments, including the one overseeing its Supercharger network. Set up in 2012, when the automaker launched its original Model S sedan, the charging system was meant to assure buyers they’d have a place to plug in. But with the Supercharger network now open to most competing EV manufacturers, the news has triggered concerns across the auto industry — and is leading Tesla rivals to put emphasis on the competing new Ionna charging network.
It was looking to be a very good week for Tesla, news of a weekend deal with the Chinese government sending the EV maker’s stock soaring. But that’s so yesterday in the 24-hour news cycle. And word that CEO Elon Musk has dismissed two key executives – with their entire staff set to follow – took the steam out of Tesla’s nascent stock rebound.
It’s official. Starting on Leap Day owners of Ford EVs will be able to plug into any of more than 15,000 Tesla Superchargers. That roughly doubles the number of public chargers that they previously had access to. With “charger anxiety” seen as one of the biggest obstacles to widespread EV adoption, Ford is hoping this will help up boost demand for its all-electric products. To make it even easier, Ford will begin shipping free Tesla adapters to its owners starting late next month.
Stellantis will adopt the Tesla-style North American Charging Standard. The parent of brands including Chrysler, Dodge, Jeep and Ram was the last holdout among major automakers to go with the NACS plug. It means owners will have access to a substantial wider network of plugs and formalizes Tesla’s Superchargers as the de facto winner in the charging battle. Tesla, meanwhile, is taking steps to prevent the embarrassing charger failures many owners ran into during a recent Midwest cold snap.
A group of seven major automakers officially launched Ionna — aimed at becoming an EV charging network to rival the Tesla Supercharging system — and, in the process, give motorists more confidence they’ll be able to charge up their battery-electric vehicles wherever they travel.
Ford was the first automaker to tie up with Tesla, announcing plans to switch to the NACS plug letting owners of products like the Mustang Mach-E and F-150 Lightning use the big Tesla Supercharger network. Ford CEO Jim Farley on Wednesday announced “eligible” owners...