Elon Musk created a fair share of controversy several years ago when he appeared to smoke a joint during an appearance with podcaster Joe Rogan. A new report is kicking up even more dust, the Wall Street Journal alleging money and drugs have improperly tied the Tesla CEO to the same board of directors that previously approved a $55 billion pay package for Musk.
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.
Tesla CEO Elon Musk has repeatedly promised to bring more affordable EVs to market but has so far failed to pull it off. Now, however, a report indicates the Texas-based automaker is getting ready to follow through with a compact crossover that could be available by mid-2025 at a starting price of $25,000. More from Headlight.News.
Tesla has become the latest automaker to raise wages for its U.S. workers, a move that industry-watchers see as an effort to stall an organizing drive by the United Auto Workers Union. The Texas-based EV manufacturer is seen as particularly vulnerable, especially at its California assembly plant which has faced numerous complaints about racial and sexual harassment and unsafe working conditions.
Today’s cars already function as computers on wheels, some equipped with over 100 onboard microprocessors. But tomorrow’s vehicles will go significantly further, offering the sort of software-based features and functions found on Apple and Android smartphones and making use of the latest AI technology. Tomorrow’s “software-defined vehicles” will transform what motorists can do while driving – while generating hundreds of billions of dollars in new revenue streams for automakers. We’ll get a look at what this means at the upcoming Consumer Electronics Show in Las Vegas.
The New Year brings bad news for potential EV buyers as only a handful of models now qualify for federal tax credits of up to $7,500. That’s because of new requirements covering the sourcing of batteries and raw materials like lithium and cobalt. Among the brands impacted are Tesla, Nissan, General Motors and Ford. And analysts worry this could further slow growth of EV sales.
Tesla is wrapping up 2023 with another record under its belt. But while sales hit an all-time high they still fell short of CEO Elon Musk’s ambitious forecast. And the Texas-based automaker has a growing list of problems on its plate, including mounting pressure for another recall following the one it announced two weeks ago.
It was supposed to provide a high-speed alternative to air travel, but Elon Musk is quietly shutting down his once-promising hyperloop company at the end of this year. Its assets are being sold off to a Dubai-based shipping company, though it’s far from clear that will ever bring the maglev system into real-world operation. Get details at Headlight.News.
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.
Within a week of its 2019 launch, Tesla claimed to have logged 250,000 advance reservations for the Cybertruck, and CEO Musk claims the number is now up to 1 million. Yet, even with the all-electric pickup finally in production, it very well could turn into a bust, CEO Elon Musk telling investors and analysts “We dug our own grave with the Cybertruck.”
Ford dropped a shift at the Dearborn, Michigan plant assembling its all-electric F-150 Lightning. The automaker blamed “multiple constraints,” for the move, but the UAW says the production cut comes as sales “have tanked.” If anything, Ford had expected a growing surge in demand as it prepares a major expansion of capacity at its Rouge Electric Vehicle Center.
Hyundai, Genesis and Kia are the latest brands set to migrate to Tesla’s NACS plug and Supercharger network. Headlight.News looks at why, and also lists the other EV manufacturers partnering with Tesla.