Tesla is getting into the rental car market.
Tesla shareholders approved Elon Musk's trillion-dollar pay package linked to ambitious milestones—including an $8.5 trillion market cap, 20 million vehicles delivered, and 1 million robots deployed. Bulls see the move as promising; even if the targets are difficult, they are confident Musk can ensure Tesla remains a leading company in the AI revolution. TSLA's huge long-term upside earnings growth potential comes at a high price, and a poor Valuation Grade has kept the stock at a Hold quant rating.
Tesla CE Elon Musk received less support for his trillion-dollar pay package than he did for an earlier pay plan in 2018. Setting aside holdings owned by Tesla board members and executives, about 66% of shares tabulated in the vote were in favor of the package, according to a filing on Friday.
Tesla shareholders just overwhelmingly backed CEO Elon Musk's unprecedented pay package that could be worth $1 trillion over a decade, but engineers running the company's main vehicle programs, for its top-selling Model Y, Model 3 and the controversial Cybertruck, aren't sticking around to see how things turn out.
Tesla board chair Robyn Denholm thanked the electric-vehicle maker's shareholders on Monday for approving CEO Elon Musk's $878 billion pay package.
Tesla's best-selling Model Y's program manager, Emmanuel Lamacchia, announced his departure on Sunday after nearly eight years, marking another high-profile exit from Elon Musk's electric vehicle company.
Tesla Inc (NASDAQ:TSLA) shares added almost 4% after it was announced that the head of its divisive Cybertruck unit, Siddhant Awasthi, is departing the company after eight years. Awasthi began his career at Tesla as an intern in 2017 and eventually led the Cybertruck program from engineering through mass production.
Siddhant Awasthi, head of the Cybertruck program, announced his departure from Elon Musk's automaker late Sunday.
Recently, Zacks.com users have been paying close attention to Tesla (TSLA). This makes it worthwhile to examine what the stock has in store.
Tesla shares up 2.1% pre-market trading Monday after Cybertruck chief Siddhant Awasthi announced his departure, coming just days after shareholders approved Elon Musk's record $1 trillion compensation package.
The CEOs of Tesla and Rivian last week received big pay packages last week – which only pay off if the companies' stock market values soar.
Siddhant Awasthi, Tesla's head of the Cybertruck program, recently announced on LinkedIn he was leaving the company after eight years.