News
Russia invests in Hyperloop One with goals to connect with China
Elon Musk’s idea for a fast, efficient, and low cost new transportation system called the Hyperloop may become a reality in Russia before it does so in the US. Los Angeles-based Hyperloop One announced last week that is has formed a partnership with the city of Moscow. A mysterious Russian oligarch is said to be the driving force behind the venture.
Hyperloop One and the Summa Group, a Russian port and oil business owned by billionaire Ziyavudin Magomedov, say they have signed a memorandum of understanding with Moscow to explore connecting the city’s transportation grid using the visionary transportation system. The signing took place at the recent St. Petersburg International Economic Forum.
The link between the American start-up and Russia is not totally unexpected. On June 16, co-founder Shervin Pishevar posted a picture of himself at a meeting attended by Russian president Vladimir Putin and a dozen wealthy Russian investors on his Facebook page. “Putin called on me as last word to talk and then responded,” Pishevar wrote. “Spoke on Sherpa, Uber and Hyperloop One. Putin said Hyperloop will fundamentally change the global economy.”
Pishevar says in a statement that his long term vision is to “to work with Russia to implement a transformative new Silk Road: a cargo Hyperloop that whisks freight containers from China to Europe in a day.” Magomedov amplifies on that by saying, “In the long term, Hyperloop could catalyze the development of regional economic integration, including the Eurasian Economic Union and the Chinese initiative One Belt, One Road” That is the name for China’s national vision to improve its connectivity to Europe, Asia, and Africa.
The history of humanity has always been all about trade routes. From the British East India Company of the Erie Canal, getting goods to market cheaply and efficiently has been the cornerstone of all commerce. If the Hyperloop is real and not a chimera, it very well could alter how nations trade with each other in the 21st century and beyond.
The trick now is to prove that the Hyperloop is something more than an intriguing idea that is really nothing but vaporware.
Source: The Verge Photo credit: Hyperloop One
News
Tesla recalls 6,197 Cybertrucks for light bar adhesive issue
On October 20, Tesla issued a voluntary recall of the impacted vehicles and has identified 619 warranty claims and just a single field report that is related to the issue.
Tesla has recalled 6,197 Cybertrucks for a light bar adhesive issue that was utilized by Service to install the aftermarket part.
According to the National Highway Traffic Safety Administration (NHTSA), impacted vehicles may have had the light bar “inadvertently attached to the windshield using the incorrect surface primer.”
Tesla identified an issue with the light bar’s adhesion to glass back in February and worked for months to find a solution. In October, the company performed chemical testing as a part of an engineering study and determined the root cause as the BetaPrime primer it utilized, figuring out that it was not the right surface priming material to use for this specific application.
On October 20, Tesla issued a voluntary recall of the impacted vehicles and has identified 619 warranty claims and just a single field report that is related to the issue.
The component is manufactured by a Romanian company called Hella Romania S.R.L., but the issue is not the primer’s quality. Instead, it is simply the fact that it is not the correct adhesive for this specific type of application.
Tesla says there are no reports of injuries or deaths due to this issue, and it will be resolved. In the 473 report that the NHTSA released this morning, Tesla said:
“At no charge to customers, Tesla will inspect the service-installed optional off-road light bar accessory for delamination or damage and if either is present, replace the light bar with a new light bar adhered with tape and a positive mechanical attachment. If no delamination or damage is present, Tesla will retrofit the service-installed optional off-road light bar accessory with a positive mechanical attachment.”
This is the third recall applied to Cybertrucks this year, as one on March 18 highlighted the potential for exterior trim panels to detach while driving, and another earlier this month when the NHTSA said its front parking lights were too bright.
Tesla resolved the first with a free assembly replacement, while the headlight issue was fixed with an Over-the-Air software update earlier this week. Owners said there was a noticeable difference in the brightness of the lights now compared to previously.
Investor's Corner
Tesla investor Calpers opposes Elon Musk’s 2025 performance award
Musk’s 2025 pay plan will be decided at Tesla’s 2025 Annual Shareholder Meeting, which will be held on November 6 in Giga Texas.
One of the United States’ largest pension funds, the California Public Employees’ Retirement System (Calpers), has stated that it will be voting against Elon Musk’s 2025 Tesla CEO performance award.
Musk’s 2025 pay plan will be decided at Tesla’s 2025 Annual Shareholder Meeting, which will be held on November 6 in Giga Texas. Company executives have stated that the upcoming vote will decide Tesla’s fate in the years to come.
Why Calpers opposes Musk’s 2025 performance award
In a statement shared with Bloomberg News, a Calpers spokesperson criticized the scale of Musk’s proposed deal. Calpers currently holds about 5 million Tesla shares, giving its stance meaningful influence among institutional investors.
“The CEO pay package proposed by Tesla is larger than pay packages for CEOs in comparable companies by many orders of magnitude. It would also further concentrate power in a single shareholder,” the spokesperson stated.
This is not the first time Calpers has opposed a major Musk pay deal. The fund previously voted against a $56 billion package proposed for Musk and criticized the CEO’s 2018 performance-based plan, which was perceived as unrealistic due to its ambitious nature at the time. Musk’s 2018 pay plan was later struck down by a Delaware court, though Tesla is currently appealing the decision.
Musk’s 2025 CEO Performance Award
While Elon Musk’s 2025 performance award will result in him becoming a trillionaire, he would not be able to receive any compensation from Tesla unless aggressive operational and financial targets are met. For Musk to receive his full compensation, for example, he would have to grow Tesla’s market cap from today’s $1.1 trillion to $8.5 trillion, effectively making it the world’s most valuable company by a mile.
Musk has also maintained that his 2025 performance award is not about compensation. It’s about his controlling stake at Tesla. “If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future,” Musk wrote in a post on X.
News
Tesla Cybercab is heading to China’s import expo
The event will take place from November 5–10 at Shanghai’s National Exhibition and Convention Center.
Tesla will make its return to the China International Import Expo (CIIE) this November, marking its first appearance at the event since 2022. The U.S. electric vehicle maker confirmed it will showcase its highly anticipated Cybercab, which will make its Asia-Pacific debut during the event.
The expo will take place from November 5–10 at Shanghai’s National Exhibition and Convention Center.
Tesla Cybercab in China
Tesla announced its participation in the event on its official Weibo account. As per the electric vehicle maker, it would be occupying Booth A3-03 in Hall 2.1 at the National Exhibition and Convention Center. As noted in a CNEV Post report, the Cybercab, the company’s dedicated autonomous two-seater Robotaxi, will be making its Asia-Pacific debut at the CIIE as well.
The company shared a graphic on Chinese social media which showed an image featuring several Tesla products, such as the Cybercab, Optimus, and Megapack batteries. The graphic also featured a building that read “Master Plan Part IV.”


Tesla’s momentum in China
Tesla’s return comes after skipping the event last year. Interestingly enough, Tesla attended the event from 2018 all the way to 2023. Tesla’s return to the CIIE then aligns with the company’s efforts to attract consumer interest in the world’s most competitive electric vehicle market.
The Cybercab’s presence in the event could suggest that Tesla might be interested in bringing its Robotaxi to the country. This is quite interesting as China is already home to several autonomous ride-hailing services, though Tesla’s pure vision approach, which focuses on artificial intelligence and cameras, is quite unique. So far, Tesla has only rolled out its autonomous ride-hailing services in Austin, Texas, and the Bay Area, California.
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