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Tesla shareholder vote gets complicated with proxy firm uses odd arguments for Musk’s payday
Tesla CEO Elon Musk’s $56 billion payday that will be voted on by shareholders at an upcoming meeting is still the biggest issue at hand for investors. Proxy firms are advising shareholders to vote one way or another, but one is using odd arguments to keep Musk from getting paid.
Glass Lewis, a proxy firm, urged Tesla investors over the weekend to reject Musk’s $56 billion pay package using some strange reasons like its “excessive size” and his “slate of extraordinarily time-consuming projects.”
The firm also said moving the company to Texas would not be ideal as it would present Tesla investors with “uncertain benefits and additional risk.”
Reuters initially reported the story.
Musk was due $56 billion as part of the 2018 shareholder meeting where investors voted to give the CEO the massive payday if he came through on various company goals, like stock price and valuation. He did so.
But earlier this year, Delaware Judge Kathaleen McCormick ruled against Musk in a suit that was brought on by a small-time shareholder. The pay package was avoided, and Tesla is seeking to have it re-approved.
There are major implications from the vote, and Tesla could end up losing Musk as a CEO and perhaps its footing as a company without him.
Some shareholders believe it is a no-brainer, while others think it may be time for a change of tone from the electric automaker, which has been widely recognized as the leader of the sector for several years.
The company’s largest retail stockholder, KoGuan Leo, is pushing for the pay package to be rejected.
Tesla’s largest retail shareholder continues push against Elon Musk’s $56B pay package
KoGuan has called some Tesla shareholders “brainless suckers.” His $3.5 billion spent to own Tesla shares is the largest stake from a retail perspective; what he says is a 0.8 percent stake in the company.
Glass Lewis’s arguments against Musk’s pay package are definitely strange, considering who is asked.
The size of it is absolutely large, but excessive could be considered a matter of opinion. Some shareholders undoubtedly believe Musk is worth every penny.
Additionally, the argument against his workload does not seem to weigh in the fact that Musk has also balanced SpaceX, Neuralink, and other intense projects simultaneously for years.
The firm also voted against Kimbal Musk’s re-election to the Board but recommended James Murdoch remain a member.
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Tesla seeks approval to test FSD Supervised in new Swedish city
Tesla has applied to conduct local Full Self-Driving (Supervised) testing in the city of Jönköping, Sweden.
Tesla has applied to conduct local Full Self-Driving (Supervised) testing in the city of Jönköping, Sweden.
As per local outlet Jönköpings-Posten, Tesla has contacted the municipality with a request to begin FSD (Supervised) tests in the city. The company has already received approval to test its Full Self-Driving (Supervised) software in several Swedish municipalities, as well as on the national road network.
Sofia Bennerstål, Tesla’s Head of Public Policy for Northern Europe, confirmed that an application has been submitted for FSD’s potential tests in Jönköping.
“I can confirm that we have submitted an application, but I cannot say much more about it,” Bennerstål told the news outlet. She also stated that Tesla is “satisfied with the tests” in the region so far.
The planned tests in Jönköping would involve a limited number of Tesla-owned vehicles. Trained Tesla safety drivers would remain behind the wheel and be prepared to intervene if necessary.
Tesla previously began testing in Nacka municipality after receiving local approval. At the time, the company stated that cooperation between authorities, municipalities, and industry enables technological progress and helps integrate future transport systems into real-world traffic conditions, as noted in an Allt Om Elbil report.
If approved, Jönköping would become the latest Swedish municipality to allow local Full Self-Driving (Supervised) testing.
Tesla’s Swedish testing program is part of the company’s efforts to validate its supervised autonomous driving software in everyday traffic environments. Municipal approvals allow Tesla to gather data in urban settings that include roundabouts, complex intersections, and mixed traffic conditions.
Sweden has become an increasingly active testing ground for Tesla’s driver-assistance software in Europe, with regulatory coordination between local authorities and national agencies enabling structured pilot programs.
Elon Musk
Microsoft partners with Starlink to expand rural internet access worldwide
The update was shared ahead of Mobile World Congress.
Microsoft has announced a new collaboration with Starlink as part of its expanding digital access strategy, following the company’s claim that it has extended internet connectivity coverage to more than 299 million people worldwide.
The update was shared ahead of Mobile World Congress, where Microsoft detailed how it surpassed its original goal of bringing internet access to 250 million people by the end of 2025.
In a blog post, Microsoft confirmed that it is now working with Starlink to expand connectivity in rural and hard-to-reach regions.
“Through our collaboration with Starlink, Microsoft is combining low-Earth orbit satellite connectivity with community-based deployment models and local ecosystem partnerships,” the company wrote.
The partnership is designed to complement Microsoft’s existing work with local internet providers and infrastructure companies across Africa, Latin America, and India, among other areas. Microsoft noted that traditional infrastructure alone cannot meet demand in some regions, making low-Earth orbit satellite connectivity an important addition.
Kenya was cited as an early example. Working with Starlink and local provider Mawingu Networks, Microsoft is supporting connectivity for 450 community hubs in rural and underserved areas. These hubs include farmer cooperatives, aggregation centers, and digital access facilities intended to support agricultural productivity and AI-enabled services.
Microsoft stated that 2.2 billion people globally remain offline, and that connectivity gaps risk widening as AI adoption accelerates.
Starlink’s expanding constellation, now numbering more than 9,700 satellites in orbit, provides near-global coverage, making it one of the few systems capable of delivering broadband to remote regions without relying on terrestrial infrastructure.
Starlink is expected to grow even more in the coming years as well, especially as SpaceX transitions its fleet to Starship, which is capable of carrying significantly larger payloads compared to its current workhorse, the Falcon 9.
Elon Musk
Tesla expands US LFP battery supply with LG Energy Solution deal: report
The report was initially published by TheElec, citing industry sources.
LG Energy Solution (LGES) will manufacture lithium iron phosphate (LFP) energy storage system (ESS) batteries for Tesla at its Lansing, Michigan facility.
The report was initially published by TheElec, citing industry sources.
LG Energy Solution’s Lansing plant, formerly known as Ultium Cells 3, was previously operated as a joint venture with General Motors. LGES acquired GM’s stake in May 2025 and now fully owns the site. With a production capacity of 50 GWh per year, it is one of the company’s largest facilities in North America.
LG Energy Solution is converting part of the Lansing factory to produce LFP batteries for energy storage systems. Equipment orders for the new lines have already been placed, and mass production is reportedly expected to begin in the second half of next year.
Last July, LG Energy Solution disclosed a 5.94 trillion won battery supply agreement running from August 2027 to July 2030. While the company did not name the customer, industry sources pointed to Tesla as the buyer.
Tesla has primarily used CATL’s prismatic batteries for its Megapack systems. The move to source prismatic LFP cells from LG Energy Solution’s U.S. plant could then be seen as part of Tesla’s efforts to bolster its North American supply base for its energy storage business.
For the Lansing conversion, LG Energy Solution reportedly plans to use electrode equipment originally ordered under its Ultium Cells venture with General Motors. Suppliers reportedly include CIS and Hirano Tecseed for electrode systems, TSI for mixing equipment, CK Solution for heat exhaust systems, A-Pro for formation equipment, and Shinjin Mtech for assembly kits.
Tesla currently manufactures energy storage products at facilities in California and Shanghai, though another Megafactory that produces the Megapack is also expected to be built in Texas. As per recent reports, the Texas Megafactory recently advanced with a major property sale.