Reports from German media have noted that one of Mercedes-Benz’s key manufacturing executives, Rene Reif, has defected to American electric car maker Tesla, which is currently in the process of building its first domestic factory in Germany. Needless to say, workers’ union IG Metall was not happy about the executive’s alleged “betrayal.”
While neither Reif nor Tesla has confirmed the news, IG Metall took the unusual step of announcing the executive’s departure from Mercedes-Benz’s engine factory at Berlin. As noted in a report from Deutsche Welle, the union announced the “defection” in a press release calling for protests at the engine factory on Thursday, November 12. Jan Otto, head of IG Metall Berlin, shared the union’s sentiments about Reif’s departure.
“We cannot build the future with soulless managers like this. We don’t understand why such a traditional and innovative car manufacturer like the Daimler Group wants to capitulate to its American competitor. We want to shape the future in the factory. We are talking to the state politicians about this. On Thursday afternoon we will set the first sign in Berlin. We will make it clear that we see the change in the plant manager as treason, it is questionable whether we have not been lied to the whole time,” Otto said in IG Metall Berlin’s press release.
Prior to his departure, Reif had served as the top manager at Daimler AG’s Mercedes-Benz Berlin engine factory. He also has extensive experience in manufacturing, serving as the head of engineering and production at Daimler’s joint venture in China, which started building the EQC all-electric SUV last year. Daimler, for its part, has confirmed that Reif had requested an early retirement, though it did not state if the executive is indeed moving to Tesla.
Reif’s departure comes at a rather inopportune time for Mercedes-Benz as its parent company, Daimler, has been facing difficulties. This is partly due to the company’s late shift in its electromobility initiatives. Even beyond competition from Tesla, Daimler’s EV efforts have not borne as much fruit, with rival carmakers like Volkswagen making more headway with vehicles like the ID.3.
Amidst these challenges, IG Metall noted that the company will likely be laying off 2,5000 workers at the Berlin plant. Otto noted that while Mercedes-Benz has so far refused to discuss the issue of layoffs at the Berlin engine facility, IG Metall would fight to keep the factory going. “We are on the cusp of a key conflict in the German car industry,” Otto stated while adding the potential closing of the factory in the face of Tesla’s emerging presence in Germany is “devastating.”
IG Metall regional boss Birgit Dietze also spoke about Tesla’s recently-revealed starting wage, which gained praise from Jochem Freyer, the Head of Worker Agency at Frankfurt. According to Freyer, Tesla has agreed to pay workers without education and who were unemployed at the time of their application at the company a salary of €2,700 per month, which is higher than what is expected. Freyer was optimistic about the amount, stating that the wage is a “blast for this level.” Dietze, however, disagrees. “Entry-level salaries in the automobile industry are significantly higher,” she said.
Elon Musk
SpaceX weighs Nasdaq listing as company explores early index entry: report
The company is reportedly seeking early inclusion in the Nasdaq-100 index.
Elon Musk’s SpaceX is reportedly leaning toward listing its shares on the Nasdaq for a potential initial public offering (IPO) that could become the largest in history.
As per a recent report, the company is reportedly seeking early inclusion in the Nasdaq-100 index. The update was reported by Reuters, citing people familiar with the matter.
According to the publication, SpaceX is considering Nasdaq as the venue for its eventual IPO, though the New York Stock Exchange is also competing for the listing. Neither exchange has reportedly been informed of a final decision.
Reuters has previously reported that SpaceX could pursue an IPO as early as June, though the company’s plans could still change.
One of the publication’s sources also suggested that SpaceX is targeting a valuation of about $1.75 trillion for its IPO. At that level, the company would rank among the largest publicly traded firms in the United States by market capitalization.
Nasdaq has proposed a rule change that could accelerate the inclusion of newly listed megacap companies into the Nasdaq-100 index.
Under the proposed “Fast Entry” rule, a newly listed company could qualify for the index in less than a month if its market capitalization ranks among the top 40 companies already included in the Nasdaq-100.
If SpaceX is successful in achieving its target valuation of $1.75 trillion, it would become the sixth-largest company by market value in the United States, at least based on recent share prices.
Newly listed companies typically have to wait up to a year before becoming eligible for major indexes such as the Nasdaq-100 or S&P 500.
Inclusion in a major index can significantly broaden a company’s shareholder base because many institutional investors purchase shares through index-tracking funds.
According to Reuters, Nasdaq’s proposed fast-track rule is partly intended to attract highly valued private companies such as SpaceX, OpenAI, and Anthropic to list on the exchange.
Elon Musk
The Boring Company’s Prufrock-2 emerges after completing new Vegas Loop tunnel
The new tunnel measures 2.28 miles, making it the company’s longest single Vegas Loop tunnel to date.
The Boring Company announced that its Prufrock-2 tunnel boring machine (TBM) has completed another Vegas Loop tunnel in Las Vegas. The company shared the update in a post on social media platform X.
According to The Boring Company’s post, the new tunnel measures 2.28 miles, making it the company’s longest single Vegas Loop tunnel to date.
The new tunnel marks the fourth tunnel constructed near Westgate Las Vegas as the Vegas Loop network continues expanding across the city.
The Boring Company also noted that the new tunnel surpassed its previous internal record of 2.26 miles for a single Vegas Loop segment.
Construction of the tunnel involved moving roughly 68,000 cubic yards of dirt. The excavation process also used about 4.8 miles of continuous conveyor belt, powered by six motors totaling 825 horsepower.
The Boring Company’s Prufrock-series all-electric tunnel boring machines are designed to support the rapid expansion of company’s underground transportation projects, including the growing Vegas Loop network. Prufrock machines are designed for reusability, thanks in no small part to their capability to be deployed and retrieved easily through their “porposing” feature.
The Vegas Loop, specifically the Las Vegas Convention Center (LVCC) Loop segment, has already been used during major events. Most recently, the LVCC Loop supported the 2026 CONEXPO-CON/AGG construction trade show, which was held from March 3-7, 2026.
As per The Boring Company, the LVCC Loop transported roughly 82,000 passengers across the convention center campus during the event’s duration.
CONEXPO-CON/AGG is one of the largest construction trade shows in North America, drawing more than 140,000 construction professionals from 128 countries this year.
The LVCC Loop forms the initial segment of the broader Vegas Loop network, which remains under active development as The Boring Company continues building new tunnels throughout the city.
News
Tesla gathers Cybercab fleet in Gigafactory Texas
Images and video of the Cybercab fleet were shared by longtime Giga Texas observer Joe Tegtmeyer in posts on social media platform X.
Tesla appears to be assembling a growing number of Cybercabs at Gigafactory Texas as preparations continue for the vehicle’s mass production. Recent footage shared online has shown over 30 Cybercabs being transported by trucks or staged near testing areas at the facility.
The images and video were shared by longtime Giga Texas observer and drone operator Joe Tegtmeyer in posts on social media platform X.
Interestingly enough, Tegtmeyer noted that many of the Cybercabs being loaded onto transport trucks were still equipped with steering wheels. This suggests that the vehicles are likely testing units rather than the final driverless configuration expected for the company’s Robotaxi service.
The vehicles could potentially be headed to testing sites across the United States as Tesla prepares to expand its Robotaxi fleet.
Additional footage captured at Gigafactory Texas also showed the Cybercab’s side and rear camera washer system operating as vehicles were being loaded onto transport trucks.
The growing number of Cybercabs at Giga Texas comes amidst the company’s announcement that the first production Cybercab has been produced at the facility. Full Cybercab production is expected to begin in April.
The vehicle is expected to play a central role in Tesla’s Robotaxi ambitions as the company looks to expand autonomous ride-hailing operations beyond its early deployments using Model Y vehicles.
Tesla has also linked Cybercab production to its proposed Unboxed manufacturing process, which assembles large vehicle modules separately before integrating them. The approach is intended to reduce production costs and accelerate output.
Musk has also noted that the Cybercab’s ramp will likely begin slowly due to the number of new components and manufacturing steps involved. However, he stated that once the process matures, Cybercab production could scale quickly.
SpaceX weighs Nasdaq listing as company explores early index entry: report
The Boring Company’s Prufrock-2 emerges after completing new Vegas Loop tunnel
