Tesla CEO Elon Musk acknowledged in an email to recently laid-off staff that some employees may have received incorrectly low severance offers. This comes after the company began notifying staff about their severance packages. “As we reorganise Tesla, it has come to my attention that some severance packages are incorrectly low,” Musk wrote in the … Read more
Faced with the need for downsizing, Tesla CEO Elon Musk informed his employees of a 10 percent workforce reduction. This axing process would impact nearly 14,000 positions globally. However, according to five current or former workers who spoke to Business Insider, some individuals arrived at company facilities on Monday unaware they had been laid off. … Read more
As Tesla’s stock slumped in 2024, Elon Musk has turned his focus to other ventures, most notably by taking a more active role in turning X back into Twitter. It is also no secret that Tesla’s shine has dimmed in 2024. The Musk-owned automotive company faces declining demand for electric vehicles and intensifying challenges in … Read more
Tesla CEO Elon Musk refuted a Reuters report claiming that his automobile company is scrapping plans for a £19792.63 ($25,000) electric vehicle. The 52-year-old billionaire accused the outlet of “lying.” Reuters, citing three anonymous sources, reported that Tesla had abandoned its project for a low-cost electric car, codenamed Model 2. The Reuters folks, who claim … Read more
Taking to his social media platform, X, Elon Musk voiced strong opposition to the legal fee request filed by the attorneys representing Tesla shareholders in the recent pay package case, calling the sum “criminal”. “The lawyers who did nothing but damage Tesla want $6 billion. Criminal.” the Tesla boss wrote. Musk was responding to a … Read more
Tesla chief Elon Musk has reacted with characteristic sarcasm to reports suggesting Apple is planning to abandon its electric car project. People familiar with the matter recently told Bloomberg that Apple has scrapped its decade-long efforts to build an EV (electric vehicle), hinting at the end of Project Titan, which many believed could revolutionise the … Read more
Elon Musk has shared his unfiltered opinions on Tesla rivals Rivian and Lucid after their Q4 earnings reports. Commenting on Lucid’s Q4 earnings, Musk said, “Their Saudi sugar daddy is the only thing keeping them alive,” attributing the company’s continued operations to the significant financial support received from the Public Investment Fund (PIF) of Saudi … Read more
Tesla’s board is still silent about their future plans after a Delaware court said they can’t give CEO Elon Musk a huge pay package, leaving the billionaire furious. Kathaleen McCormick, a Chancellor of the Delaware Court of Chancery, described the $55 billion (£43.33 billion) compensation package as the biggest ever given to a CEO of … Read more
A chicken shop owner in Manchester, who locked horns with Elon Musk’s Tesla, has lost. The trademark dispute left him £12,000 poorer. Amanj Ali, a small business owner in Bury, Greater Manchester, challenged Tesla by naming his chicken shop “Tesla Chicken & Pizza’ and ended up sparking a trademark showdown. In November of last year, … Read more
Tesla CEO Elon Musk warned engineers they’ll face “production hell” to launch the company’s revolutionary new EV, likely requiring them to live and work at the Texas Gigafactory. During the company’s earnings call, the Tesla chief noted that building the company’s next-generation EV will require workers to live and sleep on the manufacturing line at … Read more
