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Cruise CEO apologizes to workers, offers limited share sales to GM

Credit: Cruise

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The CEO of General Motors’ (GM’s) self-driving unit Cruise shared an apology for the company’s situation this weekend after an accident last month halted all operations and sparked multiple external and internal investigations.

After it was reported on Thursday that Cruise had suspended an employee share buyback program in which GM purchases worker-owned shares, an apology from CEO Kyle Vogt on Saturday has reinstated the program, as reported by Reuters. In the email, Vogt said workers would be allowed to sell a limited number of shares back to GM after some employees complained about tax obligation concerns.

“I am sorry we have veered off course under my leadership and that this has affected many Cruisers in a deeply personal way,” Vogt wrote in an email to staff.

“As CEO, I take responsibility for the situation Cruise is in today. There are no excuses, and there is no sugar coating what has happened. We need to double down on safety, transparency, and community engagement.”

Vogt also noted that Cruise needed to improve its process around working with regulators, the press and the public, saying that these factors “must improve.”

The company’s original suspension of the employee buyback program had said it would ban the sale of shares for the current quarter, while the self-driving startup endures a comprehensive review. The cancellation is expected to cut costs for GM, following the company putting its operations on pause.

Following the suspension, some workers spoke out saying that they would face large tax burdens on the stocks that were vested at higher valuations on October 15. The program was originally introduced in 2022 to help garner talent at the company, which would allow workers to sell vested equity back to GM and investors each quarter.

“We’ve heard your concerns and are developing a plan to conduct a new tender offer that would provide some RSU liquidity to mitigate potential tax obligations,” Vogt said.

“I’m glad they realized they needed to fix the situation,” one worker told Reuters.

The news follows an incident in which a driverless Cruise robotaxi hit and pinned a pedestrian in early October, after which the company’s self-driving permit from the California Department of Motor Vehicles (DMV) was immediately revoked. The GM subsidiary now faces an investigation from the National Highway Traffic Safety Administration (NHTSA) and the state, and it has hired third-party firms to help aid its internal reviews of the software and incident response.

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Since the incident, it’s been more bad news for Cruise, with the company having laid off hundreds of contractors who were operating and maintaining the driverless fleets in California, Arizona and other locations, according to some sources.

The California DMV said Cruise “misrepresented” and “omitted” certain details in its information about the October 2 pedestrian accident. Cruise has also had to halt GM’s production of the Origin driverless van, and it has recalled nearly 1,000 of its driverless vehicles on U.S. roads.

Cruise CEO explains robotaxi fleet’s human remote assistance system

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

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Elon Musk

Elon Musk says Tesla’s Roadster demo could be a bang, quite literally

Musk says tonight’s Roadster demo will be a banger, maybe literally. The clues add up.

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Elon Musk spent Wednesday and Thursday stacking teases on top of Tesla’s Roadster event, and the wording is getting harder to read as routine hype. Tesla streams the unveil tonight at 7:55 p.m. Central on X. Musk has called it “a candidate for greatest product demo of all time,” then added that “this demo will be a BANGER, probably metaphorically, though some chance literally.”

The “some chance literally” part is the line to watch. The Roadster has been tied to a SpaceX option package since 2018, and as we reported when the date was announced, the system is reportedly codenamed A71 and uses cold gas thrusters fed by a composite overwrapped pressure vessel, the same tank design SpaceX uses on Falcon 9. Musk has said a thruster equipped car could reach 60 mph in about 1.1 seconds. Cold gas thrusters firing at full output are loud, and reports ahead of the event say the car will be unmanned with spectators kept several hundred yards back. A literal bang could simply mean a demonstration that sounds like one, though it is also an admission that something could go wrong on stage.

Then there is “Timing is everything,” which Musk posted a day earlier. Stocktwits noted that 7:55 p.m. is 19:55 on a 24 hour clock, which echoes 1955, the year Marty McFly travels to in Back to the Future. Musk has made that connection before. In 2019 he replied to an animation of a flying DeLorean by saying the new Roadster “will actually do something like this.” Nothing from Tesla confirms the movie reference, but the stream time was chosen by someone, and Tesla has not been shy about this kind of wink.

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Also, Tesla said it moved the event because it “can only be held outdoors,” and Musk then wrote that the demo was postponed “due to high winds,” as Teslarati covered at the time. A car running a standing start in front of a crowd shrugs off wind. A car that leaves the ground does not. The venue near SpaceX’s McGregor test site and the FAA airspace closures reported around the original date point the same way, though we also noted the delay could be a plain safety precaution. Musk has also described the new Roadster as “beyond movies, beyond imagination, beyond human, yet still made by humans on Earth.”

The only official figures remain the 2017 ones: 620 miles of range, a top speed above 250 mph, a 1.9 second 0 to 60 time, and prices of $200,000 for the base car and $250,000 for the Founders Series. Production is expected at Giga Texas in 2027 or 2028. Tesla has said the event will cover pricing, specifications and production targets, and its livestream preview has the full rundown. Tesla reports third quarter earnings on October 21, so whatever lands tonight will be fresh going into that call. We will have live coverage as soon as the stream starts.

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Elon Musk

Elon Musk breaks his silence on the Starlink impact to Ukraine drones

Musk says the US military and president set Starshield limits, not SpaceX, amid Ukraine complaints.

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Elon Musk says the speed limit cutting out Ukraine’s military Starlink terminals is not SpaceX’s decision. In a post on X Wednesday, Musk wrote that “Starshield systems are owned and controlled by the US government. Any limits on speed or usage are decided by the US military and ultimately POTUS.” He added that Starlink is a commercial service limited to civilian or defensive activities and “cannot be used for offensive military action, as doing so would be inappropriate for a commercial company.”

He was replying to Mykhailo Fedorov, Ukraine’s former defense minister, who had thanked Musk for restoring connectivity at speeds up to 160 km/h and said removing the Starshield limit entirely is “now critical for Ukraine’s defense.”

The complaint started Tuesday night, when Ukrainian officials said military terminals began losing service above roughly 100 mph. Presidential adviser Serhiy Beskrestnov said the defense forces got no warning and several missions were disrupted, as Teslarati reported earlier Wednesday. The 7th Rapid Reaction Corps told Reuters connections dropped for 10 to 20 seconds at speeds well below the limit, which made drones harder to control. Poland’s foreign minister, Radoslaw Sikorski, asked Musk on X whether he is “playing politics with your products again.”

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That is why the Starlink and Starshield distinction matters. SpaceX introduced Starshield in 2022 as the government version of Starlink, with an initial focus on Earth observation, communications and hosted payloads. It won a Space Force contract in 2023 with a $70 million ceiling. In December 2024, the Pentagon moved Ukraine’s terminals onto Starshield, covering about 3,000 units across two contracts. Ukraine’s military connections therefore run through a service that Musk now says sits under Washington’s control.

SpaceX pitches subscription model for Trump’s Golden Dome

While Musk’s post describes who holds authority, it does not infer that anyone ordered the limit, and neither SpaceX nor the US government has confirmed who set it. Ukrainian officials have pointed to the timing, which follows President Trump’s push for an energy ceasefire and Musk’s Saturday post that “Zelensky has gone too far.” The BBC noted Trump denied threatening to restrict intelligence sharing with Kyiv, and no evidence has been presented that Washington requested the cap.

The episode also revives a promise from 2025. After Poland accused him of threatening Ukraine’s access, Musk said Starlink “will never turn off its terminals” and would not be used as a bargaining chip. Poland has since supplied more than 29,000 terminals to Ukraine. Teslarati also covered Kyiv’s search for Starlink alternatives in 2025, and the latest dispute gives that search new urgency.

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Investor's Corner

Tesla opens the Q&A for its biggest earnings call yet

Tesla opens its Q3 earnings Q&A, and Cybercab, Robotaxi, Optimus and regulators loom over October 21.

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Tesla has opened its shareholder question portal for the Q3 2026 earnings call, with the Say Q&A page already listing questions. Investors have until 4:00 p.m. EDT on October 20 to submit and vote on what management should answer.

The call is set for Wednesday, October 21. Tesla will post results after the market closes, with a live webcast at 4:30 p.m. CT, or 5:30 p.m. ET, through its investor relations site.

Say ranks questions by the number of shares behind the votes, which gives institutional holders extra weight over the retail crowd.

Ahead of Q2, retail investors asked why Robotaxi growth had stalled, when Cybercab would start customer rides, and where the Optimus Gen 3 ramp stood, while an institutional holder asked how Tesla and SpaceX would split Terafab duties. Cybercab has since answered one of those. Tesla said last week it has 300 plus Cybercabs serving Austin, up eightfold in 30 days, with Dallas named as the next city. The questions now are likely to move from when to how fast.

There is also a regulatory question hanging over the call. NHTSA has demanded sworn answers on how the pedal free Cybercab was certified against federal safety standards, with responses due October 30, nine days after the call. Whether an analyst raises it live is unknown, but it is the kind of exposure that tends to find its way into a Q&A.

The numbers will not be the main draw. Tesla already reported 486,532 deliveries and 13.7 GWh of storage for the quarter. Consensus sits around 43 to 45 cents per share on roughly $27.8 billion in revenue, according to Zacks, after a Q2 report that missed on EPS. Goldman Sachs, which holds a Neutral rating and a $360 target, argues the outlook for Robotaxi, FSD and Optimus will matter more to the stock than the quarter itself.

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The call also lands six days after the rescheduled Roadster event, which Tesla will stream on X on Thursday, October 15, at 7:55 p.m. CT. If the Roadster shows up with a production date or a SpaceX thruster package, expect it to climb the voting list before the deadline.

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