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Tesla’s CEO Elon Musk has clarified that the company will not launch a refreshed Model Y this year, despite continuous improvements to the vehicle’s design and performance, reports Reuters. Musk’s Announcement On Saturday, Elon Musk took to social media platform X to announce that a refreshed Model Y would not be released this year. “No…
New Rule Requires 65 MPG by 2031 The Biden administration announced new vehicle fuel mileage standards on Friday, aiming to transform the American auto market towards electric vehicles (E.V.s). By 2031, automakers must achieve an average of 65 miles per gallon across all models, reports The NY Times. Pushing for Electric Vehicles This new regulation,…
In a recent close-up photo of a Tesla Cybertruck’s circuit board, an intriguing Easter egg has been spotted. The board includes the words “Hi Sandy!” printed on it, a clear reference to Sandy Munro, a renowned automotive engineer known for his detailed teardown analyses of vehicles, including Tesla models. The Easter Egg and Its Significance…
Tesla is standing by CEO Elon Musk’s $56 billion pay package, arguing it motivated him to create “tremendous value” for shareholders. This comes after top proxy advisory firm Institutional Shareholder Services (ISS) recommended shareholders vote against the proposal, calling it “excessive.” ISS Recommendation and Tesla’s Response According to Reuters, ISS raised concerns over Tesla offering…
Tesla’s upcoming annual general meeting (AGM) on June 13 faces potential hurdles as tens of thousands of international retail shareholders, holding around $17 billion in stock, may be unable to vote due to inadequate cross-border voting systems provided by investment platforms, reports the Financial Times. Key Resolutions and Challenges The electric vehicle maker is seeking…
Tesla is sending executive Tom Zhu back to China amid slumping sales and increased competition in the world’s largest electric vehicle market. Zhu, who was promoted to senior vice president of automotive in April 2023, previously led Tesla’s entry into China and oversaw the company’s Asia Pacific operations, Bloomberg reports. Zhu’s Role and Promotion Tom…
Tesla CEO Elon Musk had inside information about Tesla’s impending miss on production and delivery numbers when he sold more than $7.5 billion in stock in 2022, according to a lawsuit filed by shareholder Michael Perry, reports Bloomberg. Insider Knowledge Allegations Michael Perry, a Tesla investor, filed a lawsuit in Delaware Chancery Court, accusing Musk…
Musk Slams New US Tariffs Tesla CEO Elon Musk has come out strongly against the new US tariffs on Chinese electric vehicles (EVs). His comments follow President Joe Biden’s decision to drastically increase these tariffs, quadrupling them in the process. Musk, speaking via video link at a tech conference in Paris, stated, “Neither Tesla nor…
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