Tesla shareholders on Thursday overwhelmingly endorsed a massive pay package for CEO Elon Musk that could reach $1 trillion.
Tesla CEO Elon Musk said he expects the automaker's Full Self-Driving software, a driver assistance system, will be fully approved in China early next year.
Elon Musk could be on track for a $1trn (£761bn) pay package - if Tesla meets a series of extremely ambitious targets over the next 10 years.
Musk said Tesla would probably need to build a "gigantic" chip fab in order to meet the volume of chips that the company is looking for. Tesla depends on TSMC and Samsung, but still faces shortages despite expanding supplier output.
Elon Musk gets a mixed response to his idea of having the carmaker invest in his artificial-intelligence startup.
Elon Musk's massive $1 trillion pay package has been the talk of the town this past week, and it has many Tesla (NASDAQ:TSLA) shareholders pondering what could happen to the electric vehicle (EV) titan if it ever reached such a fork in the road again.
Tesla shareholders approved an investment in xAI, a company owned by Elon Musk. xAI, founded in July 2023, quickly reached a $50 billion valuation by 2024.
The fate of Tesla—or, at least, the answer to the question of whether its chief Elon Musk stays or walks—may have been settled at today's shareholder vote.
Tesla will begin producing the Cybercab, an autonomous electric vehicle with no pedals or steering wheel, this April at its factory in Austin, Texas, CEO Elon Musk said during the company's shareholder meeting Thursday.
Elon Musk could be on track for a $1trn (£761bn) pay package - if Tesla meets a series of extremely ambitious targets over the next 10 years.
Tesla chair Robyn Denholm, in a letter to shareholders last week, warned investors that Musk may leave the company if the plan was denied, claiming Tesla would lose “significant value without Musk” as Tesla “may no longer be valued for what we aim to become.” Denholm and other board members wrote in another letter they believe Musk's vision for the company is “vital to navigating this crucial inflection point.
Tesla shareholders approved CEO Elon Musk's historic pay package at the company's annual shareholders meeting in Austin, Texas.