News
Elon Musk escalating his efforts against his SEC deal with Supreme Court appeal
Elon Musk’s efforts against the Securities and Exchange Commission (SEC) are not over just yet. As per Attorney Alex Spiro, Musk intends to approach the Supreme Court to determine if the SEC’s consent decree, which dictates what he can communicate about electric vehicle maker Tesla’s financial matters on Twitter (which has now been rebranded to “X”), went too far.
Musk attracted the SEC’s attention in August 2018. At the time, Musk had posted on Twitter that he had “funding secured” to take Tesla private, a statement that has since been challenged. That being said, in a trial last year, Musk’s former chief of staff claimed that the Tesla CEO had a “handshake deal” with representatives from the Saudi Arabia Public Investment Fund before the infamous tweet was posted on Twitter.
The deal ultimately did not materialize, TSLA shares became even more volatile than they usually were, and shareholders attributed losses to Musk’s posts. The Commission filed a lawsuit against Musk, arguing that the tweets could be considered fraud.
Musk and the SEC eventually reached a settlement, which included a resolution that required both Musk and Tesla to pay a combined total of $40 million in fines. It also required Musk to step down from his position as the chairman of Tesla’s Board of Directors. Finally, the settlement required Musk to seek legal approval before posting anything related to Tesla’s financials on Twitter.
Musk has since stated that he was pressured into accepting the deal with the SEC. The Tesla CEO also suggested that the SEC exploited the decree to harass him with investigations regarding his usage of Twitter. Musk and his legal team would later attempt to have judges reevaluate the case, but their efforts have so far been unsuccessful. In a decision last May, the appeals court panel argued that Musk could not revisit the screening of his tweets simply because he had changed his mind.
Musk’s legal team, however, has argued that the SEC had no right to impose an unconstitutional “gag rule” as a condition to reach a settlement. As per Musk’s lawyers, the decision “posits that Mr. Musk either had to forego a settlement with the SEC or give up his right to challenge the constitutionality of the SEC’s demands.” The lawyers also noted that “Supreme Court law holds otherwise.”
Whether or not the US Supreme Court would hear Musk’s appeal remains to be seen. Though as per Reuters, the Supreme Court typically only hears arguments in about 70 of the 5,000 or so cases that it reviews annually.
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Elon Musk
FCC chair criticizes Amazon over opposition to SpaceX satellite plan
Carr made the remarks in a post on social media platform X.
U.S. Federal Communications Commission (FCC) Chairman Brendan Carr criticized Amazon after the company opposed SpaceX’s proposal to launch a large satellite constellation that could function as an orbital data center network.
Carr made the remarks in a post on social media platform X.
Amazon recently urged the FCC to reject SpaceX’s application to deploy a constellation of up to 1 million low Earth orbit satellites that could serve as artificial intelligence data centers in space.
The company described the proposal as a “lofty ambition rather than a real plan,” arguing that SpaceX had not provided sufficient details about how the system would operate.
Carr responded by pointing to Amazon’s own satellite deployment progress.
“Amazon should focus on the fact that it will fall roughly 1,000 satellites short of meeting its upcoming deployment milestone, rather than spending their time and resources filing petitions against companies that are putting thousands of satellites in orbit,” Carr wrote on X.
Amazon has declined to comment on the statement.
Amazon has been working to deploy its Project Kuiper satellite network, which is intended to compete with SpaceX’s Starlink service. The company has invested more than $10 billion in the program and has launched more than 200 satellites since April of last year.
Amazon has also asked the FCC for a 24-month extension, until July 2028, to meet a requirement to deploy roughly 1,600 satellites by July 2026, as noted in a CNBC report.
SpaceX’s Starlink network currently has nearly 10,000 satellites in orbit and serves roughly 10 million customers. The FCC has also authorized SpaceX to deploy 7,500 additional satellites as the company continues expanding its global satellite internet network.
Energy
Tesla Energy gains UK license to sell electricity to homes and businesses
The license was granted to Tesla Energy Ventures Ltd. by UK energy regulator Ofgem after a seven-month review process.
Tesla Energy has received a license to supply electricity in the United Kingdom, opening the door for the company to serve homes and businesses in the country.
The license was granted to Tesla Energy Ventures Ltd. by UK energy regulator Ofgem after a seven-month review process.
According to Ofgem, the license took effect at 6 p.m. local time on Wednesday and applies to Great Britain.
The approval allows Tesla’s energy business to sell electricity directly to customers in the region, as noted in a Bloomberg News report.
Tesla has already expanded similar services in the United States. In Texas, the company offers electricity plans that allow Tesla owners to charge their vehicles at a lower cost while also feeding excess electricity back into the grid.
Tesla already has a sizable presence in the UK market. According to price comparison website U-switch, there are more than 250,000 Tesla electric vehicles in the country and thousands of Tesla home energy storage systems.
Ofgem also noted that Tesla Motors Ltd., a separate entity incorporated in England and Wales, received an electricity generation license in June 2020.
The new UK license arrives as Tesla continues expanding its global energy business.
Last year, Tesla Energy retained the top position in the global battery energy storage system (BESS) integrator market for the second consecutive year. According to Wood Mackenzie’s latest rankings, Tesla held about 15% of global market share in 2024.
The company also maintained a dominant position in North America, where it captured roughly 39% market share in the region.
At the same time, competition in the energy storage sector is increasing. Chinese companies such as Sungrow have been expanding their presence globally, particularly in Europe.
Elon Musk
Elon Musk shares big Tesla Optimus 3 production update
According to Musk, Tesla is in the final stages of completing Optimus 3, which he described as one of the world’s most advanced humanoid robots.
Tesla CEO Elon Musk has stated that production of Optimus 3 could begin this summer. Musk shared the update in his interview at the Abundance Summit.
According to Musk, Tesla is in the final stages of completing Optimus 3, which he described as one of the world’s most advanced humanoid robots.
“We’re in the final stages of completion of Optimus 3, which is really going to be by far the most advanced robot in the world. Nothing’s even close. In fact, I haven’t even seen demos of robots that are as good as Optimus 3,” Musk said.
He also set expectations on the pace of Optimus 3’s production ramp, stating that the initial volumes of the humanoid robot will likely be very low. Musk did, however, also state that high production rates for Optimus 3 should be possible in 2027.
“I think we’ll start production on Optimus 3 this summer, but very slow at first, like sort of this classic S-curve ramp of manufacturing units versus time. And then, probably reach high volume production around summer next year,” he said.
Interestingly enough, the CEO hinted that Tesla is looking to iterate on the robot quickly, potentially releasing a new Optimus design every year.
“We’ll have Optimus 4 design complete next year. We’ll try to release a new robot design every year,” Musk stated.
Tesla has already outlined broader plans for scaling Optimus production beyond its first manufacturing line. Musk previously stated that Optimus 4 will be built at Gigafactory Texas at significantly higher production volumes.
Initial production lines for the robot are expected to be located at Tesla’s Fremont Factory, where the company plans to establish a line capable of producing up to 1 million robots per year.
A larger production ramp is expected to occur at Gigafactory Texas, where Musk has previously suggested could eventually support production of up to 10 million robots per year.
“We’re going to launch on the fastest production ramp of any product of any large complex manufactured product ever, starting with building a one-million-unit production line in Fremont. And that’s Line one. And then a ten million unit per year production line here,” Musk said previously.
The comments suggest that while Optimus 3 will likely begin production at Fremont, Tesla’s larger-scale manufacturing push could arrive with Optimus 4 at Gigafactory Texas.
FCC chair criticizes Amazon over opposition to SpaceX satellite plan
Tesla Energy gains UK license to sell electricity to homes and businesses
