Connect with us
elon-musk-twitter-countersuit-public-documents elon-musk-twitter-countersuit-public-documents

News

Twitter urges shareholders to approve $44bn Musk buyout

Credit: Solen Feyissa/Commons Wikimedia [CC:BY-SA 2.0]

Published

on

Twitter is urging its shareholders to vote to approve the acquisition of the social media platform by Tesla CEO Elon Musk in a vote on September 13.

Twitter filed a 14-A with the SEC on Tuesday that encouraged shareholders to approve the transaction.

“Today, we filed a definitive proxy statement in connection with the Special Meeting of Stockholders to approve the proposed acquisition of Twitter by affiliates of Elon Musk. The Twitter Board of Directors recommends that stockholders vote in favor of the transaction (“FOR”),” the company wrote in the filing.

Twitter and Musk reached an agreement for the acquisition of the social media platform in April for $44 billion, as the Tesla CEO offered $54.20 per share. However, Musk has retracted his interest in purchasing the platform after claiming Twitter has not accurately depicted the site’s population of robot accounts, which could technically affect the valuation of the company.

Musk has pushed for a formal analysis of Twitter’s account population, which was a reason listed in his request to push a trial between the two to April 2023.

Advertisement

A judge ruled Twitter and Musk would undergo a five-day trial in October. Twitter sued Musk in an attempt to force the purchase.

Elon Musk’s legal team calls out Twitter over alleged pretrial delays

Company Chairman Bret Taylor said, “The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”

Twitter shareholders were going to vote on the acquisition anyway, but the stakes are much higher now that the company and Musk are involved in a legal pursuit that could enforce the sale. It is unclear whether the shareholder vote, if approved, would provide any leverage for Twitter in the courtroom.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Advertisement

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

News

Tesla adjusts Robotaxi safety monitor strategy in Austin with new service area

The positioning of the driver, as well as the driver’s hands being closer to the steering wheel, is more similar to what Tesla is doing in the Bay Area Robotaxi program than it is to what it has done in Austin.

Published

on

Credit: @AdanGuajardo/X

Tesla has adjusted its Robotaxi safety monitor strategy in Austin after it expanded its service area in the city last week for the third time.

Tesla has been operating its Robotaxi platform in Austin since June 22. The vehicles have been operated without a driver, but Tesla has placed safety monitors in the passenger’s seat as a precaution.

The safety monitors are responsible for performing any necessary interventions and maintaining a safe and comfortable cabin for riders as they experience Tesla’s first venture into the driverless ride-sharing space.

Last week, Tesla expanded its service area in Austin for the third time, expanding it from about 90 square miles to 170 square miles. The expansion included new territory, including the Austin-Bergstrom International Airport, Tesla’s Gigafactory Texas, and several freeways.

Tesla Robotaxi geofence expansion enters Plaid Mode and includes a surprise

Advertisement

The freeway is an area that is uncharted territory for the Tesla Robotaxi program, and this fact alone encouraged Tesla to switch up its safety monitor positioning for the time being.

For now, they will be riding in the driver’s seat when routes require freeway travel:

The positioning of the driver, as well as the driver’s hands being closer to the steering wheel, is more similar to what Tesla is doing in the Bay Area Robotaxi program than it is to what it has done in Austin.

Advertisement

This is sure to draw criticism from skeptics, but it is simply a step to keep things controlled and safe while the first Robotaxi drives take passengers on the highway with this version of the Full Self-Driving software.

This FSD version differs from the one that customers have in their own vehicles, but CEO Elon Musk has indicated something big is coming soon. FSD v14 is coming to vehicles in the near future, and Musk has said its performance is pretty incredible.

Tesla’s Elon Musk shares optimistic teaser about FSD V14: “Feels sentient”

Continue Reading

News

Tesla has best month ever in Turkey with drastic spike in sales

Tesla managed to sell 8,730 Model Y vehicles in Turkey, outpacing almost every competitor by a substantial margin. Only one brand sold better than Tesla in August in Turkey, and it was Renault.

Published

on

Credit: Tesla

Tesla had its best monthly performance ever in Turkey in August, thanks to a drastic spike in sales.

Tesla saw an 86 percent bump in sales of the new Model Y in Turkey in August compared to July, dominating the market.

The performance was one of Tesla’s best in the market, and the company’s sales for the month accounted for half of all EV sales in Turkey for August, as it dominated and led BYD, which was the second-best-selling brand with just 1,639 units sold.

Tesla managed to sell 8,730 Model Y vehicles in Turkey, outpacing almost every competitor by a substantial margin. Only one brand sold better than Tesla in August in Turkey, and it was Renault.

Electric vehicles are, in some ways, more desirable than their gas counterparts in Turkey for several reasons. Most of the reasoning is financial.

First, EVs are subject to a lower Special Consumption Tax in Turkey. EVs can range from 25 percent to up to 170 percent, but this is less than the 70 to 220 percent rate that gas-powered vehicles can face. The tax is dependent on engine size.

Elon Musk courted to build a Tesla factory in Turkey

Advertisement

Additionally, EVs are exempt from the annual Motor Vehicle Tax for the first ten years, providing consumers with a long-term ownership advantage. There are also credits that can amount to $30,000 in breaks, which makes them more accessible and brings down the cost of ownership.

Let’s not forget the other advantages that are felt regardless of country: cheaper fuel costs, reduced maintenance, and improved performance.

The base Model Y is the only configuration available in Turkey currently.

Continue Reading

News

Tesla is upgrading airbag safety through a crazy software update

“This upgrade builds upon your vehicle’s superior crash protection by now using Tesla Vision to help offer some of the most cutting-edge airbag performance in the event of a frontal crash.”

Published

on

(Credit: Tesla)

Tesla is upgrading airbag safety through a crazy software update, which will utilize the company’s vision-first approach to enable better protection in the event of an accident.

Over the years, Tesla has gained an incredible reputation for prioritizing safety in its vehicles, with crash test ratings at the forefront of its engineers’ minds.

This has led to Tesla gaining numerous five-star safety ratings and awards related to safety. It is not just a statistical thing, either. In the real world, we’ve seen Teslas demonstrate some impressive examples of crash safety.

Everything from that glass roof not caving in when a tree falls on it to a Model Y surviving a drive off a cliff has been recorded.

However, Tesla is always looking to improve safety, and unlike most companies, it does not need a physical hardware update to do so. It can enhance features such as crash response and airbag performance through Over-the-Air software updates, which download automatically to the vehicle.

Advertisement

In Tesla’s 2025.32 Software Update, the company is rolling out a Frontal Airbag System Enhancement, which aims to use Tesla Vision, the company’s camera-based approach to self-driving, to keep occupants safe.

The release notes state (via NotaTeslaApp):

“This upgrade builds upon your vehicle’s superior crash protection by now using Tesla Vision to help offer some of the most cutting-edge airbag performance in the event of a frontal crash. Building on top of regulatory and industry crash testing, this release enables front airbags to begin to inflate and restrain occupants earlier, in a way that only Tesla’s integrated systems are capable of doing, making your car safer over time.”

The use of cameras to predict a better time to restrain occupants with seatbelts and inflate airbags prior to a collision is a fantastic way to prevent injuries and limit harm done to those in the vehicle.

The feature is currently limited to the Model Y.

Advertisement
Continue Reading

Trending