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Firm that Elon Musk once called ‘ISIS’ calls for Tesla shareholders to ditch $56b pay package

Credit: @Gf4Tesla/Twitter

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The advisory firm ISS, also known as Institutional Shareholder Services, was once called “ISIS” by Tesla CEO Elon Musk. The firm is now calling for Tesla shareholders to ditch the $56 billion pay package that Musk once won but now is set to be voted on for ratification.

ISS has routinely recommended things for Tesla shareholders that do not necessarily align with the company’s most loyal supporters. In 2021, the firm suggested the EV maker ditch Kimbal Musk and James Murdoch from the company’s board.

Elon Musk replied to our coverage of the suggestions by calling the firm “ISIS,” in reference to the radical Salafi-jihadist terrorist group:

It is now 2024, and the implications of this Tesla Shareholder meeting are bigger than ever before. Musk was due a $56 billion payday due to tranches reached as Tesla’s frontman but had it denied by a Delaware Chancery Judge.

It is the biggest issue on this year’s agenda, and it could end up being the end of his reign at the electric automaker, the end of Tesla’s incorporation in Delaware, and perhaps a farewell to the company as many know it.

ISS believes Musk’s pay package is “excessive, even given the company’s success.”

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The firm wrote in its report:

“In addition, the grant, in many ways, failed to achieve the board’s other original objectives of focusing CEO Musk on the interests of Tesla shareholders, as opposed to other business endeavors, and aligning his financial interests more closely with those of Tesla stockholders.”

It also noted a “lack of clarity” regarding Musk’s future pay.

Other firms, like Glass Lewis, have also suggested shareholders vote against Musk’s pay plan. Meanwhile, there are plenty of others who believe Musk is owed this sum of money, and the sizing of it is irrelevant: he was already awarded this paycheck before it was taken away.

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“Egan-Jones believes the continuation of this compensation plan is critical for maintaining Musk’s leadership and motivation, which are essential for Tesla’s sustained growth and innovation. The firm acknowledges the high compensation level but emphasizes the exceptional performance and unique contributions of Musk to Tesla’s success,” Egan-Jones said in its suggestion.

Do you agree with this move? If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Tesla expands Robotaxi to Florida, marking its third state for autonomy

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Credit: Tesla

Tesla has expanded its Robotaxi program to Miami, Florida, marking the third state the autonomous ride-hailing platform has made its way to since launching last Summer.

Tesla announced today that the Robotaxi suite would now officially launch rides in a geofence in Miami:

The first geofence in Miami covers approximately 10 to 14 square miles. The area appears to be focused on western and central Miami, including Miami International Airport (MIA). It also includes popular routes like SR 826 (Palmetto Expressway), US 41 (Tamiami Trail), and connectors such as SR 968, 953, 959, and 972.

This is Tesla’s initial Miami launch zone, smaller and more targeted than some competitors’ areas (for example, Waymo’s initial rollout was broader in eastern neighborhoods). It prioritizes high-traffic, airport-linked routes before wider expansion.

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The expansion is a huge signal for Tesla that it is now operating in Florida, a heavy-traffic state with many tourist areas, including Fort Lauderdale, Palm Beach, and the Boynton area, all of which are coastal and will attract perhaps millions of tourists in any given year.

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The Tesla Robotaxi network launched last year on June 22, in Austin, Texas, beginning limited commercial operations in that city. It expanded shortly thereafter into the San Francisco Bay Area of California in late July 2025, marking entry into a second state with service covering key areas such as San Francisco, San Jose, and Berkeley.

Full commercial service was achieved in Austin by November 18, 2025, strengthening its presence within Texas before further growth.

In 2026, the network continued expanding across Texas with the addition of Dallas and Houston on April 18, significantly broadening its footprint in the state. This new launch into Miami marks Tesla entering a new state and bringing active locations to include Austin, Dallas, Houston, San Antonio in Texas, and the Bay Area in California.

These sequential expansions have steadily increased the network’s reach across major metropolitan areas in Texas, California, and Florida, focusing on scaling operations city by city and state by state since the initial Austin debut.

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Elon Musk outlines Tesla Optimus production expectations

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Credit: Grok Imagine

Tesla CEO Elon Musk has tempered expectations for the company’s humanoid robot Optimus, emphasizing that initial production will ramp up slowly despite recent progress on the manufacturing line. In a July 1 reply on X, Musk responded to optimistic community speculation by stating, “No, Optimus production will be extremely slow at first, as everything is new. This is not like making a car.”

The comment came in response to a post theorizing that Tesla had accelerated Optimus V3 development and might soon unveil an impressive demonstration with multiple units already in meaningful production. Musk’s clarification highlights the fundamental differences between scaling a novel humanoid robot and Tesla’s established automotive operations, which benefit from over a century of refined supply chains, tooling, and processes.

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Recent updates show tangible advancement. Musk shared a photo of himself walking the Optimus production line at Fremont, where Tesla is converting former Model S/X manufacturing space. According to Q1 2026 earnings commentary, limited production is slated to begin in late July or August 2026 on this converted line.

Tesla Optimus project fires up as Musk sees production line progress

Musk previously noted that Optimus features roughly 10,000 unique parts, making early output rates “literally impossible to predict” and describing them as “quite slow.” A larger dedicated factory at Giga Texas is under construction, targeting higher-volume production around summer 2027 with long-term annual capacity potentially reaching millions of units.

Some experts point out that pioneering humanoid robotics demands inventing new automation techniques, actuator supply chains, and quality-control standards in real time. Unlike vehicles, where components and assembly methods are mature, every element of Optimus—from dexterous hands to AI-integrated movement—requires fresh engineering solutions. Early units are expected to handle simple factory tasks before expanding to more complex roles.

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This cautious approach aligns with Tesla’s history of under-promising and over-delivering on complex technologies. While enthusiasts hoped for rapid deployment, Musk’s message underscores a deliberate strategy: prioritize reliability and iterative improvement over rushed volume.

Analysts suggest the S-curve ramp typical of new manufacturing will eventually accelerate once foundational issues are resolved, positioning Optimus as a potential trillion-dollar product line.

Musk has long envisioned Optimus transforming labor markets, assisting in homes, factories, and hazardous environments. By setting realistic timelines, Tesla aims to build sustainable momentum rather than risk disappointment. As the Fremont line comes online this summer, investors and fans will watch closely for the first production metrics and capability demonstrations.

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Tesla brings Model Y L ‘Launch Series’ to the U.S. at $61,990

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Tesla has officially launched the Model Y L in the United States and Puerto Rico for $61,990. It is the longer-wheelbase version of the Model Y, and has been available in China since last year.

Tesla brings the Model Y L to the U.S. just months after it phased out the only pure SUV in its lineup, the Model X. It is slightly longer than the Model Y configurations that are already available in the U.S., and features a three-row, six-seat setup with Captain’s Chairs being among the many features that make this a truly fantastic offering.

The Model Y L is priced competitively at $61,990, and features 325 miles of range and a 0-60 MPH in just 4.4 seconds.

Tesla also added a handful of new features that are not available in even the Premium Model Y. Here’s a full list of its features:

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  • Heated/Ventilated Front Seats with Powered Thigh Cushion
  • Heated/Ventilated Captain’s Seats in Second Row with Powered Armrests & One-Touch Fold
  • Heated Third-Row Seats with Power Recline, One-Touch Fold & Child Seat Anchors
  • Improved Airflow, Increased Efficiency, More Range
  • 89 cubic feet of trunk space
  • Upgraded Acoustic Glass and Suspension to Minimize Road Noise
  • Adaptive Damping for a Smooth, Stable Ride
  • Staggered Tires for Enhanced Grip
  • Larger Tailgate for Better Rear Visibility and Bigger Windows Overall
  • 16″ First Row and 8″ Second Row Touchscreens
  • 19-Speaker Immersive Tesla Audio
  • 50W Wireless Charging Pads with Active Cooling and Charging Ports for All Other Seats
  • FSD Supervised and Integrated Grok AI

Tesla is also delivering these first units as a “Launch Series,” which comes with additional features, such as:

  • Door Trim Puddle Lights
  • Suede Dashboard Wing
  • Exterior and Interior Badging
  • Floor Mats
  • Sill Plates

The launch of the Model Y L in the U.S. marks a huge offering from Tesla to U.S. consumers. People have been calling for Tesla to bring a larger car to the U.S., and it needed it more than ever now that the Model X is gone.

It is a huge accomplishment for Tesla to get the Model Y L to the U.S., and after reporting strong deliveries today, it will be interesting to see how this car impacts future quarterly delivery reports.

Deliveries for the Model Y L “Launch Series” are slated for September or October of this year.

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