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Tesla’s Elon Musk and Rivian CEO join legacy auto execs in Motortrend’s Person of the Year list
Tesla CEO Elon Musk ranks on Motortrend’s 2020 list of most crucial players in the automotive industry. Musk has been on the list since 2013 and gained recognition as Person of the Year in 2017.
Motortrend released its list 2020 Person of the Year on November 19, which recognized Hyundai President and Head of Design Management Peter Schreyer as its Person of the Year for 2020. Elon Musk came in the 24th spot in this year’s power rankings, improving from his recognition as the 42nd most influential figure in the auto industry from a year ago.
While Motortrend recognizes Musk as an influential figure for another year, the website’s description of his accomplishments this year takes an interesting approach, leading with a highlight of his lawsuits, conflicts with the SEC, and the successful release of the Model 3. “Another year of drama for Musk with lawsuits and SEC concerns over tweets. But sales continue to grow, affordable Model 3s are on the road, there’s a new plant in China, and promises of a pickup, compact crossover, roadster, and a big rig continue. Ever the boy at heart, his cars can now fart,” Motortrend said about the South African born CEO.
In 2019, Tesla and Musk have unveiled its first crossover, broke ground on Gigafactory 3 in Shanghai, and improved its Full Self-Driving software with the company’s V10 update. A monumental year for the Silicon Valley-based automaker in many regards, Musk’s vision for an environmentally-sustainable future by supplying people with affordable electric cars is becoming more of a reality. Tesla will unveil its Cybertruck on November 21, adding an all-electric pickup truck to its lineup of vehicles.
Musk was not the only Tesla member to make the list. Co-founder and Senior Adviser to the company J.B. Straubel came in at #13. “Straubel, the former chief technical officer at Tesla, has stepped back from day-to-day authority but will continue to apply his genius toward core technologies—especially around batteries, power electronics, and an expanding network of superchargers. He is essential to Tesla’s drive to retain EV tech leadership,” Motortrend said.
Rivian CEO RJ Scaringe was #3 on Motortrend’s 2020 power rankings. It has been a big year for Scaringe’s Rivian. The company gained notable financial backing from e-commerce giant Amazon, who invested $700 million and purchased 100,000 vans from the Plymouth, Michigan-based automaker to begin a more environmentally-conscious delivery process. Rivian also gained help from Ford Motor Company and Cox Automotive, who invested $500 million and $350 million, respectively. Rivian will begin production of the R1T pickup and R1S sport utility vehicle in late-2020.
Motortrend has recognized these three pioneers of the electric vehicle movement on its list of the 50 most crucial players in the industry today. The three sit among executives of legacy automotive groups, like Ford, GM, and Toyota, whose board members have made up Motortrend’s lists since the auto journal wrote its first power rankings in 2005. While those companies are working on electric cars to release as their own, Musk, Straubel, and Scaringe have all contributed toward the transition to make the automotive market geared more toward electric and battery-powered modes of transportation and away from the traditional petrol-powered machines that have dominated the U.S. car industry since its introduction in the 1890s, and they are gaining recognition for their efforts. Tesla and Rivian alike have a vision for the future, and it includes clean transportation for everyone, aimed at saving the Earth from the carbon-emissions that negatively affect the atmosphere and our general well-being.
The Top 10 of Motortrend’s Person of the Year 2020 list is as follows:
- 10. Alan Bethke, Senior VP of Marketing, Subaru of America. 2019: Unranked
- 9. Mate Rimac, Founder, Rimac Automobili. 2019: Unranked
- 8. Charles Gordon-Lennox, Founder, Goodwood Festival of Speed and Goodwood Revival. 2019: Unranked
- 7. Roger Penske, Founder and Chairman, Penske Corporation. 2019: Unranked
- 6. Mary Barra, Chairwoman and CEO, General Motors. 2019: 11
- 5. David Woodhouse, VP Of Nissan Design America, Nissan. 2019: 22
- 4. Tadge Juechter, Corvette Chief Engineer, General Motors. 2019: Unranked
- 3. RJ Scaringe, Founder and CEO, Rivian Automotive. 2019: Unranked
- 2.Kumar Galhotra, President, Ford North America. 2019: Unranked
- 1. Peter Schreyer, President, Head of Design Management, Hyundai Motor Group. 2019: 33
Elon Musk
SpaceX issues statement on Starship V3 Booster 18 anomaly
The incident unfolded during gas-system pressure testing at the company’s Massey facility in Starbase, Texas.
SpaceX has issued an initial statement about Starship Booster 18’s anomaly early Friday. The incident unfolded during gas-system pressure testing at the company’s Massey facility in Starbase, Texas.
SpaceX’s initial comment
As per SpaceX in a post on its official account on social media platform X, Booster 18 was undergoing gas system pressure tests when the anomaly happened. Despite the nature of the incident, the company emphasized that no propellant was loaded, no engines were installed, and personnel were kept at a safe distance from the booster, resulting in zero injuries.
“Booster 18 suffered an anomaly during gas system pressure testing that we were conducting in advance of structural proof testing. No propellant was on the vehicle, and engines were not yet installed. The teams need time to investigate before we are confident of the cause. No one was injured as we maintain a safe distance for personnel during this type of testing. The site remains clear and we are working plans to safely reenter the site,” SpaceX wrote in its post on X.
Incident and aftermath
Livestream footage from LabPadre showed Booster 18’s lower half crumpling around the liquid oxygen tank area at approximately 4:04 a.m. CT. Subsequent images posted by on-site observers revealed extensive deformation across the booster’s lower structure. Needless to say, spaceflight observers have noted that Booster 18 would likely be a complete loss due to its anomaly.
Booster 18 had rolled out only a day earlier and was one of the first vehicles in the Starship V3 program. The V3 series incorporates structural reinforcements and reliability upgrades intended to prepare Starship for rapid-reuse testing and eventual tower-catch operations. Elon Musk has been optimistic about Starship V3, previously noting on X that the spacecraft might be able to complete initial missions to Mars.
Investor's Corner
Tesla analyst maintains $500 PT, says FSD drives better than humans now
The team also met with Tesla leaders for more than an hour to discuss autonomy, chip development, and upcoming deployment plans.
Tesla (NASDAQ:TSLA) received fresh support from Piper Sandler this week after analysts toured the Fremont Factory and tested the company’s latest Full Self-Driving software. The firm reaffirmed its $500 price target, stating that FSD V14 delivered a notably smooth robotaxi demonstration and may already perform at levels comparable to, if not better than, average human drivers.
The team also met with Tesla leaders for more than an hour to discuss autonomy, chip development, and upcoming deployment plans.
Analysts highlight autonomy progress
During more than 75 minutes of focused discussions, analysts reportedly focused on FSD v14’s updates. Piper Sandler’s team pointed to meaningful strides in perception, object handling, and overall ride smoothness during the robotaxi demo.
The visit also included discussions on updates to Tesla’s in-house chip initiatives, its Optimus program, and the growth of the company’s battery storage business. Analysts noted that Tesla continues refining cost structures and capital expenditure expectations, which are key elements in future margin recovery, as noted in a Yahoo Finance report.
Analyst Alexander Potter noted that “we think FSD is a truly impressive product that is (probably) already better at driving than the average American.” This conclusion was strengthened by what he described as a “flawless robotaxi ride to the hotel.”
Street targets diverge on TSLA
While Piper Sandler stands by its $500 target, it is not the highest estimate on the Street. Wedbush, for one, has a $600 per share price target for TSLA stock.
Other institutions have also weighed in on TSLA stock as of late. HSBC reiterated a Reduce rating with a $131 target, citing a gap between earnings fundamentals and the company’s market value. By contrast, TD Cowen maintained a Buy rating and a $509 target, pointing to strong autonomous driving demonstrations in Austin and the pace of software-driven improvements.
Stifel analysts also lifted their price target for Tesla to $508 per share over the company’s ongoing robotaxi and FSD programs.
Elon Musk
SpaceX Starship Version 3 booster crumples in early testing
Photos of the incident’s aftermath suggest that Booster 18 will likely be retired.
SpaceX’s new Starship first-stage booster, Booster 18, suffered major damage early Friday during its first round of testing in Starbase, Texas, just one day after rolling out of the factory.
Based on videos of the incident, the lower section of the rocket booster appeared to crumple during a pressurization test. Photos of the incident’s aftermath suggest that Booster 18 will likely be retired.
Booster test failure
SpaceX began structural and propellant-system verification tests on Booster 18 Thursday night at the Massey’s Test Site, only a few miles from Starbase’s production facilities, as noted in an Ars Technica report. At 4:04 a.m. CT on Friday, a livestream from LabPadre Space captured the booster’s lower half experiencing a sudden destructive event around its liquid oxygen tank section. Post-incident images, shared on X by @StarshipGazer, showed notable deformation in the booster’s lower structure.
Neither SpaceX nor Elon Musk had commented as of Friday morning, but the vehicle’s condition suggests it is likely a complete loss. This is quite unfortunate, as Booster 18 is already part of the Starship V3 program, which includes design fixes and upgrades intended to improve reliability. While SpaceX maintains a rather rapid Starship production line in Starbase, Booster 18 was generally expected to validate the improvements implemented in the V3 program.
Tight deadlines
SpaceX needs Starship boosters and upper stages to begin demonstrating rapid reuse, tower catches, and early operational Starlink missions over the next two years. More critically, NASA’s Artemis program depends on an on-orbit refueling test in the second half of 2026, a requirement for the vehicle’s expected crewed lunar landing around 2028.
While SpaceX is known for diagnosing failures quickly and returning to testing at unmatched speed, losing the newest-generation booster at the very start of its campaign highlights the immense challenge involved in scaling Starship into a reliable, high-cadence launch system. SpaceX, however, is known for getting things done quickly, so it would not be a surprise if the company manages to figure out what happened to Booster 18 in the near future.
SpaceX issues statement on Starship V3 Booster 18 anomaly
Tesla analyst maintains $500 PT, says FSD drives better than humans now
