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Tesla News
Insider
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Image Credit: Insider
Hybrids are the latest trick for Chinese automakers seeking higher profits and global expansion
- Chinese EV companies, including BYD, Xpeng, Zeekr, and Nio, are turning to hybrids as a new strategy for higher profits and global expansion.
- Hybrids and extended-range vehicles are becoming increasingly popular in China due to limited access to charging infrastructure and customer skepticism towards pure battery-powered vehicles.
- Hybrids are generally cheaper to produce than battery electric vehicles and offer a broader market with different price points, attracting customers who may not be ready for full electric vehicles.
- Chinese EV companies also see hybrids as advantageous for overseas expansion, as hybrids are exempt from European tariffs on imported Chinese electric vehicles.
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Moneyweb
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Delaware judge who rejected Musk’s Tesla payday faces backlash
- Delaware Judge Kathaleen St. J. McCormick faces backlash after blocking Elon Musk's Tesla payday for a second time.
- Elon Musk criticized the judge, calling it 'absolute corruption' and Tesla bull Cathie Wood accused her of undermining shareholder rights.
- McCormick had faced backlash previously for voiding Musk's pay package and refusing to let him back out of a deal.
- While some criticize McCormick's ruling, she is praised by legal commentators for her courage and integrity.
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Teslarati
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Image Credit: Teslarati
Elon Musk’s xAI scores $1.08B priority NVIDIA order
- Elon Musk's xAI startup secured priority access to $1.08 billion worth of NVIDIA's GB200 AI servers.
- The servers will be delivered by January 2025, and Musk approached NVIDIA CEO Jensen Huang directly for the order.
- Musk and Huang have a reportedly good relationship, with Huang speaking highly about Tesla's self-driving cars.
- Musk's xAI startup recently doubled in valuation after closing a $5 billion fundraising round.
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Teslarati
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Image Credit: Teslarati
Tesla China: No plans for local Cybertruck release for now
- Tesla China has clarified that there are no immediate plans to release the Cybertruck in the country.
- The Cybertruck has only been delivered to the United States, Canada, and Mexico.
- Elon Musk stated that getting the Cybertruck road legal in China would be difficult.
- China has significant regulatory restrictions on pickup trucks, resulting in a small market for them.
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Teslarati
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83
Image Credit: Teslarati
SpaceX valuation estimated to hit $350B
- SpaceX is reportedly discussing the possibility of selling insider shares, putting the aerospace company’s market value at $350 billion.
- In June, SpaceX was estimated to be the most valuable aerospace company, with a valuation of $210 billion.
- Elon Musk’s open support of President-elect Donald Trump has boosted his companies, including SpaceX.
- SpaceX is developing its Starship rocket to land on the moon and Mars, and its Starlink satellite internet service continues to progress.
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Insider
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192
Image Credit: Insider
Elon Musk lost his Tesla pay fight. Here's what he can do next.
- Elon Musk's $55 billion pay package was struck down by a Delaware judge for the second time.
- Tesla plans to appeal the decision and if failed may reintroduce the package in Texas.
- However, reintroduction of the package in Texas may end up costing Tesla more as the old package cannot be authorised by the new plan.
- Tesla's board had considered introducing a new pay plan if the shareholder vote didn't pass, which was eventually rejected.
- If Tesla created a new plan with the same stock grants, it would cost tens of billions.
- Legal experts predict that the case will ultimately have to balance Delaware's freedom for companies to self-govern with concerns about excessive payouts and Musk's status.
- Appeals processes take a year or longer, however, Musk's case may contain unpredictable elements.
- The case may signify more about public companies in the US and the way in which shareholders and courts can interfere with management's plans.
- Tesla reincorporated from Delaware to Texas in June which could cause a hindrance in its decisions as its behavior hasn't been the most strategic.
- Musk's decision to appeal or reintroduce the package in Texas depends on multiple factors including motivations beyond money like his public persona and his reputation.
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Teslarati
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131
Image Credit: Teslarati
EV battery replacement will soon cost less than fixing a gas engine: study
- A new study claims that replacing an electric vehicle battery will soon cost less than fixing the engine of a gas car.
- The cost of electric vehicle batteries is on pace to be less than a gas engine repair by 2030, according to the study.
- Goldman Sachs projects that by 2026, battery prices will reach $80 per kilowatt hour (kWh), about half the price of 2023.
- The study suggests that by 2030, the cost of replacing an EV battery pack could be as low as $3,375 for a standard 75 kWh pack, putting it on par with an engine replacement.
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Guardian
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324
Image Credit: Guardian
Musk’s legal battle for his $56bn goes on. Tesla’s board still looks supine | Nils Pratley
- Tesla's $56bn pay package awarded to Elon Musk in 2018 was deemed a governance abomination.
- Tesla's board was criticized for inaccurately describing directors as independent and omitting key details.
- A judge initially voided the share options due to lack of full disclosure to shareholders.
- The board's continued support for Musk's award despite legal rulings raises concerns about their lack of independence.
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Macdailynews
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333
Image Credit: Macdailynews
Tesla to enable Apple Watch as digital car key next week
- Starting next week, Tesla owners will be able to unlock their vehicles directly from their Apple Watches.
- The over-the-air update will allow users to use Apple Watch as a Car Key, offering convenience and control.
- Additionally, the update will include a 'Fart On Contact' feature for Tesla owners to prank family and friends.
- Indonesia expects to receive a $1 billion investment commitment from Apple within a week.
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Silicon
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293
Image Credit: Silicon
Elon Musk $56 Billion Pay Deal Rejected, Again
- A judge in Delaware for the second time ruled against Elon Musk's $56 billion pay package.
- Tesla has vowed to appeal the decision.
- The judge cited Musk's extensive ties with board members and concerns about misleading shareholders.
- Tesla shareholders previously voted to reinstate the pay deal in June 2024.
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Evannex
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Image Credit: Evannex
Everything Tesla’s New Holiday Update Has to Offer
- Tesla's annual Holiday Update is here, delivering a sleigh-load of features to enhance your driving and ownership experience.
- Highlights of the update include the Tesla App on Apple Watch, Autoshift upgrade for Model 3, enhanced navigation features, rear cross-traffic alert, entertainment upgrades, Cybertruck customization, Sentry Mode enhancements, maintenance and comfort updates, schedule light shows, and other updates.
- Tesla owners can now use their Apple Watch as a phone key and access key controls. Model 3 gets Autoshift feature for parking lot maneuvers. The navigation system receives updates like Set Arrival Energy and Search Along Route.
- Other noteworthy features include rear cross-traffic alert, entertainment upgrades such as SiriusXM and new games, Cybertruck customization options, Sentry Mode enhancements, and the ability to schedule light shows.
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Tech Story
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Elon Musk’s $56 Billion Pay Package Denied Again by Delaware Court
- Elon Musk's $56 billion pay package has been denied again by a Delaware court.
- The court upheld a previous ruling stating that the compensation plan was improper.
- Tesla plans to appeal the decision while Musk called it 'absolute corruption' on X.
- The legal battle highlights concerns about corporate governance and executive compensation.
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Teslarati
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Image Credit: Teslarati
Tesla China sells 78,856 vehicles wholesale in November 2024: CPCA
- Tesla China sold 78,856 vehicles wholesale in November 2024, a 15.49% increase from October.
- Domestic market focused with about 73,000 vehicles sold to domestic customers.
- Total wholesale sales for the year down 3.6% due to lower export figures.
- Speculations of an updated Model Y, named 'Juniper', releasing next year.
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Teslarati
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Image Credit: Teslarati
Starlink becomes plan B for KRG
- Starlink has become plan B for the Kativik Regional Government (KRG) as it plans to use SpaceX's Starlink terminals to expand internet service among Nunavik communities while completing its fiber optic project.
- The KRG is in the process of expanding fiber-optic internet services across the region at a cost of $158 million.
- Engineers are currently in talks to load a freighter jet with Starlink gateway terminals to provide Starlink dishes to the communities.
- While fiber-optic is still the ultimate goal, Starlink is seen as a game-changer for Nunavik and the world.
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16 Likes
Teslarati
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74
Image Credit: Teslarati
Stellantis board accepts CEO Tavares’ resignation
- Stellantis N.V.'s Board of Directors has accepted Carlos Tavares' resignation as the company's CEO.
- The decision comes after different views emerged between the Board and the CEO.
- Stellantis has initiated the process of appointing a new permanent CEO with an expected appointment by the first half of 2025.
- An Interim Executive Committee, chaired by John Elkann, will oversee operations until a new CEO is appointed.
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