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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.”

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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.

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“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.

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

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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

Tesla owners doxxed by controversial anti-DOGE website in clear intimidation tactic

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Credit: CBS Colorado

Tesla owners are being doxxed by a controversial anti-DOGE website in what it called an act to “empower creative expressions of protest.”

Dogequest, a website that has been created with a clearly outlined use for intimidation against Tesla owners, posted the names, addresses, phone numbers, and other contact information of those who own vehicles made by the electric vehicle manufacturer.

It was spotted by 404 Media.

The site also claims to have the information of employees at the Department of Government Efficiency, as well as the addresses of Tesla dealerships and the locations of Tesla Superchargers. The latter two are public information.

However, the website is hoping to get Tesla owners to sell their vehicles in this evident intimidation tactic. However, the information on the website, while it was seen, was not verified to prove that it contained the information of real-world Tesla owners. The site was not accessible by Teslarati at the time of publication.

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The creation of a site like Dogequest is just another level that anti-Elon Musk activists are taking to attempt to destroy a company like Tesla as its CEO works with the Trump Administration to eliminate excessive government spending through the work of DOGE.

It is also the latest attack on Tesla owners, who have seen their vehicles vandalized, damaged, and even destroyed by those who disagree with the actions of Musk.

Tesla as a company has also seen several acts of retaliation against it, as everything from the arson of its showrooms and vehicles to it being kicked from the popular Vancouver Auto Show have come as a result of the recent backlash against the company.

Moving forward, there are still questions surrounding how these attacks will be combatted. The Trump Administration has indicated that acts of vandalism against Tesla would be considered a federal crime, but the tricky part of locating the culprits has proven to be extremely difficult. Only a handful have been found and held accountable.

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Tesla gets an upgrade on ‘upcoming material catalysts’

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tesla model y in white
(Source: Tesla)

Tesla (NASDAQ: TSLA) received an upgraded rating on its shares from Wall Street firm Cantor Fitzgerald, who recently took a trip to Austin to visit the company’s data centers and production lines ahead of several high-profile product launches set for this year.

It was a bold move, especially considering Tesla shares are under immense pressure currently, fending off negative news regarding the company’s sentiment and potentially lower-than-expected delivery figures due to the launch of a new version of its most popular vehicle, the Model Y.

However, the bulls on Wall Street are still considering Tesla to be a safe play, especially considering its robust presence in various industries, including automotive, energy, and AI/Robotics.

Cantor Fitzgerald analyst Andres Sheppard said in a note that, during a recent visit to Tesla’s Cortex AI data centers and the production line at Gigafactory Texas, it was clear there is a lot of potential and runway for Tesla in 2025:

“On 3/18, we visited Tesla’s Cortex AI data centers and the factory’s production lines ahead of the company’s introduction of its Robotaxi segment (targeted for June in Austin, followed by CA later in 2025). With Tesla’s shares now down ~45% YRD, we upgrade Tesla to Overweight (from Neutral) ahead of upcoming material catalysts. Our $425 12-month PT is unchanged. Our Thoughts: Attractive Entry Point Ahead of Material Catalysts.”

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Sheppard went on to mention the catalysts, which he believes are the Robotaxi rollout in Austin in June, along with the continued rollout of Full Self-Driving in China, the eventual rollout of FSD in Europe, and the introduction of the affordable models in the first half of this year, and those were just on the automotive side.

There are several others, including Optimus, growth in the energy division, and in the longer term, the Semi.

In terms of potential weaknesses, Sheppard expects the likely removal of the EV tax credit and some of its growth to be offset by tariffs as the two big things that stand in the way of even more growth for the company.

Tesla is up over 5 percent on Wednesday, trading at $236.86.

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Tesla kicked from popular auto show as event succumbs to protest pressure

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Credit: Sawyer Merritt/X

Tesla has been kicked from a popular automotive show as the organizers of the massive event have succumbed to the pressure of protestors and others who oppose the electric vehicle maker.

The Vancouver Auto Show in Canada announced that it would not allow Tesla to establish a presence at the event this year, citing concerns about potential disruption from protestors and others who have been vocal about their distaste for the company and its CEO, Elon Musk.

Eric Nicholl, executive director of the Vancouver Auto International Show, said (via The Hill):

“The Vancouver Auto Show’s primary concern is the safety of attendees, exhibitors, and staff. This decision will ensure all attendees can be solely focused on enjoying the many positive elements of the event.”

Tesla was reportedly given several opportunities to voluntarily withdraw from the Vancouver Auto Show. The company evidently declined these invitations. Reps of the event itself then took it into their own hands, stating that the company would not be welcome at the event any longer.

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Musk’s involvement in the Department of Government Efficiency (DOGE) under the Trump Administration seems to be the main culprit for so much pushback from the opposition.

Protest groups and organizers have put together various acts of opposition against Tesla, some more reasonable than others, in an effort to show their distaste for the company and Musk. However, many of these acts have turned violent, resulting in the vandalism or even the total destruction of vehicles. It’s one thing to use your right to protest, and it’s another to destroy people’s personal vehicles or property that belongs to the automaker.

The decision by the Vancouver Auto Show sets a dangerous precedent that the violence and destruction tactics used by groups that oppose Tesla will work. Ultimately, people’s safety is most important, but there is the impression that shows will not take the proper precautions to ensure that all companies are able to show off their products and tech at the event.

This could have been resolved with other strategies, and axing Tesla from the show altogether could result in some fans boycotting the show altogether.

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