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Ford reveals CEO Jim Farley’s latest pay raise

Credit: Jim Farley | X

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A recent filing has revealed Ford CEO Jim Farley’s latest pay increase, with his total compensation increasing by as much as 26 percent in 2023.

In proxy statement filed with the U.S. Securities and Exchange Commission (SEC) last week, Ford revealed that CEO Jim Farley’s total compensation in 2023 was nearly $26.5 million, up substantially from under $21 million in 2022.

Although Farley’s salary was only around $1.7 million last year, he also received stock awards amounting to $20.3 million, a non-equity incentive plan compensation of almost $2.4 million, and another roughly-$2 million dubbed “all other compensation” in the document.

You can see a summary table of compensation for Ford’s executives below, as included in the proxy statement.

Credit: Ford

The news also comes after Ford, General Motors (GM) and Stellantis also faced historic six-week strikes from the United Automotive Workers (UAW) union in 2023. UAW President Shawn Fain made a statement following the release of the Friday filing, pointing to Farley’s recent statements about potentially having to re-consider where Ford would build vehicles due to increasing union pressure.

“Just a few weeks ago Farley was crying to the press about how the UAW’s record contracts were forcing the company to rethink where they build their vehicles, but now they have no problem finding the money to give him a 26 percent pay raise to $26.5 million a year,” Fain said (via Automotive News).

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“Let’s be clear: this is corporate greed, plain and simple.”

By comparison, multinational automaker and Dodge-Chrysler parent company Stellantis paid a total compensation of 36.5 million euros ($39.5 million) to CEO Carlos Tavares in 2023, up more than 55 percent. While GM hasn’t yet released its 2023 total compensation numbers for CEO Mary Barra, she had the highest total compensation of the “Big Three” in 2022, earning around $28.98 million.

The news also comes after Ford announced plans to cut the F-150 Lightning production workforce by roughly two-thirds, as the automaker pivots toward a mass-market, affordable electric vehicle (EV). Ford EVs also gained access to the vast Tesla Supercharger network in North America this month, significantly increasing the number of charging stations available to owners.

Ford pauses all F-150 Lightning shipments as gas deliveries begin

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

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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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Tesla is looking to conduct FSD tests in new Swedish city: report

The proposal appears to have been received rather positively by one of the city’s officials.

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Credit: Tesla Europe & Middle East/X

Recent reports have suggested that Tesla is looking at another city in Sweden to test its Full Self-Driving (FSD) system on public roads. The proposal appears to have been received rather positively by one of the city’s officials.

Tesla FSD tests in Sweden

FSD has already been deployed in numerous territories such as the United States, China, and Australia. However, the system is yet to be released in Europe. As per a recent report from Värmlands Folkblad, Tesla has sent a request for FSD testing to the capital of Värmland, Karlstad. As noted in a CarUp report, Tesla is already testing FSD on motorways after the company secured permission from the Swedish Transport Agency. 

The Municipality of Karlstad has reportedly not issued a decision regarding Tesla’s request yet, though lawmakers seem open to the idea of FSD being tested on public roads. In a comment to VF, municipal councilor Linda Larsson stated that FSD tests in Karlstad “sounds interesting.” Tesla’s FSD tests, if they are approved, will still use safety drivers behind the wheel who will be ready to intervene at any time. 

Tesla pledges to work with the municipality

In its request, Tesla noted that Karlstad is an interesting municipality in which to conduct its tests. The company also stated that it would conduct its operations and tests in close collaboration with the municipality, as well as local entities. Considering the municipal councilor’s comments, it does appear that Tesla might have a solid chance at attaining permission to test FSD on Karlstad’s roads. 

Tesla’s success for FSD tests in Sweden has been mixed. A few months ago, reports emerged stating that the company’s request to test FSD in Stockholm had been rejected by the Swedish Traffic Department. 

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“The Traffic Office is currently working on updating its approach to automation. At the same time, the city and the office are under heavy pressure from other ongoing innovation tests. Our ambition is to actively participate in and learn from the continued development in the field of automation. 

“Based on this, and in combination with the fact that the current test is the first of its kind, which entails certain risks for both infrastructure and third parties, and that it is planned to be carried out throughout the city, the City of Stockholm considers it is currently not possible to approve the implementation of the test,” the Swedish Traffic Department stated.

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Waymo faces federal probe after self-driving taxi fails to stop for school bus

In a statement, a Waymo representative stated that the company has “already developed and implemented improvements” that should help its fleet avoid similar incidents in the future.

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Credit: Waymo

Federal regulators have launched an investigation into Waymo’s self-driving vehicles after reports that one of its autonomous taxis failed to stop properly for a school bus. 

The U.S. National Highway Traffic Safety Administration (NHTSA) stated that it’s reviewing around 2,000 Waymo vehicles following concerns that its autonomous systems may have violated traffic laws.

Waymo under review

According to a Reuters report, the NHTSA’s Office of Defects Investigation began the probe after flagging a media report involving a Waymo self-driving taxi that did not remain stationary when approaching a school bus. At the time of the incident, the school bus had its red lights flashing, its stop arm was deployed, and its crossing control arm was extended.

As per the ODI’s report, the Waymo initially stopped beside the bus before maneuvering around its front. This resulted in the vehicle passing the school bus’ extended stop arm and crossing control arm. Students from the bus were disembarking when the Waymo committed the error. The vehicle was operating without a safety driver at the time, and it was equipped with Waymo’s fifth-generation Automated Driving System (ADS).

Software fix already in place

In a statement, a Waymo representative stated that the company has “already developed and implemented improvements related to stopping for school buses and will land additional software updates in our next software release.” The spokesperson also highlighted that Waymo prioritizes the safety of pedestrians, especially children, in its vehicles’ operations. 

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“Driving safely around children has always been one of Waymo’s highest priorities. In the event referenced, the vehicle approached the school bus from an angle where the flashing lights and stop sign were not visible and drove slowly around the front of the bus before driving past it, keeping a safe distance from children,” Waymo noted.

Waymo, which is owned by Alphabet, operates a fleet of more than 1,500 robotaxis in major U.S. cities, including Phoenix, Los Angeles, San Francisco, and Austin. The company continues to expand its footprint and plans future operations in Tokyo and London.

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Kia and Tesla top list in Swedish study of strongest EV batteries

A major Swedish study has revealed which electric vehicles hold their battery health the best, and Kia and Tesla came out on top. 

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Credit: Tesla Asia/X

A major Swedish study has revealed which electric vehicles hold their battery health the best, and Kia and Tesla came out on top. 

Swedish car broker Kvdbil initiated a test of more than 1,300 used BEVs and plug-in hybrids to determine which models retain the best battery capacity over time. Based on the study’s results, the Kia EV6, Kia e-Niro, and the Tesla Model Y were deemed the best.

Kia and Tesla lead the pack

Kvdbil’s test results are bullish for electric vehicles as a whole. The study showed that eight out of ten used electric cars still had at least 90% of their original battery capacity. Kia’s EV6 and e-Niro finished first and second in the rankings, while Tesla’s Model Y came in third. As per CarInfo data, Sweden currently has 12,148 Kia EV6 registered, while there are 48,488 Model Y.

In a comment to the media, test manager Martin Reinholdsson stated, “They are actually better than we thought. We were a bit surprised that there were so many that were this good.”

In a way, Tesla’s strong performance in the test carries extra weight since the Model Y is one of Sweden’s best-selling EVs, giving the test a much larger sample size compared to Kia’s smaller but highly rated fleet. 

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Battery tech, driver habits, and age all play a role

Kvdbil noted that the test’s standout results could be attributed to advanced battery management systems and careful engineering, as noted in a report from the Sweden Herald. At the same time, the study also found that factors like charging routines, driving style, and the age of a vehicle can influence capacity retention.

Rounding out the top ten were entries from Opel, Mazda, Audi, Fiat, Volvo, Citroën, and Volkswagen, as noted in a CarUp report.

This is not the first time that Tesla’s battery prowess has shown its strength. Last year, reports emerged stating that a Tesla Model S 90D from Chesterfield, UK, had traveled 430,000 miles on its original motors and batteries. Over that period, which was comprised of constant Supercharging sessions due to the car being used as an airport taxi, the Model S 90D only lost 65 miles of range.

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