💼 Former Nikola CEO Trevor Milton is contesting the rejection of his five director nominees by the current Board of Directors. 📄 Milton’s nominees were cited to lack public company experience and necessary skills by the current Nikola Board. 🤝 M&M Residual, LLC, affiliated with Milton, argues that his nominees bring value and can address…
💰 Tesla has implemented minor price increases for the Model 3 Long Range Dual Motor All Wheel Drive (AWD) and the upgraded Model 3 sedan’s White Interior option. 📈 The starting price for the Model 3 Long Range Dual Motor AWD has increased from $45,990 to $47,740 due to successive price adjustments. 🚗 The base…
💡 Elon Musk advises Rivian executives to “cut costs massively” to survive potential bankruptcy. ⏰ Musk suggests Rivian execs should commit to living in the factory and contributing to production around the clock. 🏭 Musk draws parallels with his own experiences during Tesla’s Model 3 production challenges, where he lived in the factory. 💼 Musk’s…
🚀 SpaceX plans to launch its Starship rocket at least nine times in 2024. 🛰️ Starship is aimed to be the most powerful and largest heavy-lift launch vehicle, with the goal of transporting people from Earth to Mars. 📅 SpaceX’s ambitious launch schedule includes a third test flight in mid-March and aims for roughly one…
💡 Tesla is planning improvements to Sentry Mode, focusing on energy efficiency. 🔋 The updates aim to reduce battery drain caused by Sentry Mode operation. 🚗 Sentry Mode records events near the Tesla, aiding in vandalism and accident liability. 🔄 Improvements in energy consumption are targeted for a second-quarter software update. 🛡 Enhanced Sentry Mode…
💡 Elon Musk predicts a bleak future for Tesla rivals Rivian and Lucid based on comments made on his social media platform. 💼 Musk believes both Rivian and Lucid could face eventual bankruptcy and potential cessation of operations. 📉 Rivian, despite being considered one of the best EV companies in the US, is still grappling…
💰 Lucid CEO Peter Rawlinson’s compensation plan was explained during the Q4 2023 earnings call. 📉 Rawlinson’s compensation has faced criticism due to its size despite Lucid’s ongoing challenges in vehicle production and sales. 📊 Lucid’s Q4 2023 revenue was $157.2 million with a net loss of $653.8 million. 💼 Rawlinson’s compensation in 2022 was…
🚗 Tesla’s Vice President Rohan Patel stated that the Grünheide community’s vote against Giga Berlin’s expansion won’t affect Tesla’s plans. 🌳 Despite the vote, Tesla intends to proceed with its expansion plans for Giga Berlin. 🗳️ 3,499 Grünheide residents opposed Tesla’s expansion plans due to concerns about environmental impact. 💼 Patel highlighted Tesla’s efforts to…
🎯 Rivian aims to reach a production target of 57,000 units in 2024. 📈 The company exceeded its 2023 production guidance by 7,000 electric vehicles. 🚗 Rivian reported producing 57,232 R1 electric vehicles in 2023, delivering 50,122 units. 🔄 The production goals for 2024 are set to remain flat year-over-year, with an emphasis on improving…
💰 Carmakers are compensating leasing companies for the declining value of used electric cars due to Tesla’s price cuts. 📉 Leasing companies like Ayvens are receiving checks from EV makers to offset slumping prices in the second-hand car market. 🚗 Tesla’s price reductions are affecting the entire EV industry, prompting demands for concessions and buyback…