Connect with us

News

Elon Musk’s The Boring Company to switch state of incorporation

(Credit: The Boring Company)

Published

on

The Boring Company (TBC) will switch its state of incorporation to Nevada by March 2023. The tunnel boring company is the second Elon Musk-led company to announce a switch in its state of incorporation this past week.

Like most Elon Musk-led companies, including Tesla, the Boring Company was previously incorporated in Delaware. Over the weekend, Neuralink switched its state of incorporation from Delaware to Nevada. 

The Boring Company’s switch to a Nevada incorporation seems strategic. The tunneling company’s biggest project to date is in Las Vegas. TBC is building an extensive loop across Sin City called the Vegas Loop. 

The Boring Company already has some Vegas Loop stops running, particularly those connected to its Las Vegas Convention Center (LVCC) Loop. The LVCC Loop has proven The Boring Company’s concept as it has already catered to thousands of people visiting the La Vegas Convention Center. 

The exodus of Elon Musk-led companies from Delaware incorporations for other states comes after a court decision voiding Tesla’s 2018 CEO compensation plan. Judge Kathaleen McCormick of the Delaware Court of Chancery ruled that Musk’s 2018 pay package was unreasonable. 

Advertisement

Most—if not all—TSLA investors heartily disagree with Judge McCormick’s decision. ARK Invest CEO Cathie Wood called the ruling “unAmerican.” Following the decision, Elon Musk turned to X and asked the public if Tesla should change its state of incorporation to Texas. 

The suggestion received resounding support. Elon Musk seems to be following through with the public’s decision, not just with Tesla but with his other companies as well.

If you have any tips, contact me at maria@teslarati.com or via X @Writer_01001101.

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

News

Tesla China’s new six-seat Model Y L already sold out through October

New Tesla Model Y L orders now show an estimated delivery date of November 2025 at the earliest.

Published

on

Credit: Tesla China

Tesla’s new Model Y L is sold out for October in China, with new orders showing an estimated delivery date of November 2025 at the earliest. 

The extended-wheelbase variant, launched in August and first delivered this month, has quickly become one of Tesla’s strongest-selling vehicles in its key overseas market.

Demand and expectations

Tesla China initially positioned the Model Y L for September deliveries, with Vice President Grace Tao confirming on Weibo that the vehicle would begin reaching customers this September. True to that promise, the first handovers of the vehicle started last week. Since its launch, the six-seat crossover has sold out its September and October allocations, hinting at healthy demand.

Industry estimates suggested that Tesla received more than 35,000 orders for the Model Y L on launch day alone. While some Model Y L orders may overlap with those of the standard Model Y, industry watchers have noted that the six-seat, extended wheelbase variant is expanding the company’s total addressable market by appealing to car buyers who need more space and seating.

Credit: Tesla China

Tesla China boost

The Model Y L’s strong momentum is significant as Tesla navigates a competitive Chinese EV sector. With deliveries now stretching into November, the new crossover could potentially lift Tesla’s quarterly sales performance and help maintain its relevance in a market dominated by fast-moving domestic brands.

Beyond China, the extended-wheelbase Model Y L may also serve as a strategic export product for markets where larger family vehicles are in demand. Its early sellout performance suggests that Tesla has tapped into a new growth lever within its most successful vehicle lineup. With a starting price of RMB 339,000 ($47,180), after all, the Model Y L has the makings of a true bang-for-the-buck vehicle.

Advertisement
Continue Reading

News

Tesla targets Bay Area airports as next step for Robotaxi rollout

The update was initially reported by Politico, which cited records that it reportedly obtained. 

Published

on

Credit: @AdanGuajardo/X

Tesla has expressed interest in operating its Robotaxi ride-hailing service in three of Silicon Valley’s busiest airports, as per the company’s communications with California regulators.

The update was initially reported by Politico, which cited records that it reportedly obtained. 

Key Robotaxi battleground

As per the publication, Casey Blaine, Tesla’s senior regulatory counsel, informed regulators in California that the electric vehicle maker was “initiating engagement with the following airports to secure the necessary approvals to conduct pick-ups/drop-offs: San Francisco International Airport, San Jose Mineta International Airport, and Oakland International Airport.”

High-traffic airports have long been a focal point for autonomous vehicle firms like Waymo, which recently secured permits to operate in San Jose and is progressing in San Francisco after a lengthy battle with labor groups. By pursuing airport access, Tesla seems to be hinting that it wants a share of the same market. Regulators confirmed that Tesla has opened discussions with each Bay Area airport, though no permits have been granted yet.

Regulator visit

California’s Public Utilities Commission, the state’s primary ride-hailing regulator, has reportedly engaged directly with Tesla in recent months. Agency officials reportedly visited Tesla’s Palo Alto offices to learn more about the company’s ride-hailing program and its technology. Agency spokesperson Terrie Prosper shared some insights about the matter. 

Advertisement

“CPUC staff are aware of Tesla’s recently expanded Bay Area charter-party carrier service and associated app. As for any charter-party carrier regulated by the CPUC, staff engages to exchange information, promote safety, and monitor compliance with applicable rules and regulations. Among other things, we appreciate and expect Tesla and all carriers to properly and clearly represent its service to the public,” Proper noted.

Tesla has already allowed Bay Area riders to book trips through its Robotaxi app, which launched to select customers in July before opening publicly in September. Videos posted online show Tesla’s driverless cars are still operating with safety drivers, though Musk has suggested that the service could be fully driverless by the end of the year.

Continue Reading

Elon Musk

Analyst: Elon Musk’s $1 trillion Tesla pay deal modest against robot market potential

Jonas highlighted Tesla’s longer-term ambitions in robotics as a key factor in his assessment.

Published

on

Credit: Tesla

Morgan Stanley analyst Adam Jonas, one of Wall Street’s most ardent Tesla (NASDAQ:TSLA) bulls today, has described Elon Musk’s newly proposed $1 trillion performance-based compensation package as a “good deal” for investors. 

In a note shared this week, Jonas argued that the package helps align the interests of Musk and Tesla’s minority shareholders, despite its shockingly high headline number.

Future market opportunities

Jonas highlighted Tesla’s longer-term ambitions in robotics as a key factor in his assessment. “Yes, a trillion bucks is a big number, but (it) is rather modest compared to the size of the market opportunity,” Jonas wrote. He added that the humanoid robot market could ultimately surpass the size of today’s global labor market “by a significant multiple.”

“We have entertained scenarios where the humanoid robot market can exceed the size of today’s global labor market… by a significant multiple,” Jonas wrote, as shared on X by Tesla watcher Sawyer Merritt.

The analyst likened the arrival of AI-powered robotics to the transformative effect of electricity, noting that “contemplating future global GDP before AI robots is like contemplating global GDP before electricity.” The Morgan Stanley analyst’s insights align with the idea that as much as 80% of Tesla’s future valuation could be tied to its Optimus humanoid robot program.

Advertisement

Elon Musk’s pay package

Tesla’s board has tied Elon Musk’s proposed compensation package to some of the most ambitious targets in corporate history. The 2025 CEO Performance Award requires the automaker’s valuation to soar from roughly $1.1 trillion today to $8.5 trillion over the next decade, a level that would make Tesla the most valuable company in existence.

The plan also demands a leap in Tesla’s operating profit, from $17 billion in 2024 to $400 billion annually. It also ties the CEO’s compensation to a number of product milestones, including the delivery of 20 million vehicles in total, 10 million active Full Self-Driving subscriptions, 1 million Tesla Bots, and 1 million Robotaxis in operation. Tesla’s board emphasized that Musk’s leadership was fundamental to achieving such ambitious goals, with Chair Robyn Denholm noting the award would align the CEO’s incentives with long-term shareholder value.

Continue Reading

Trending