Connect with us
Tesla-gigafactory-texas-production-line-upgrades Tesla-gigafactory-texas-production-line-upgrades

News

Tesla is one step away from incorporating its business to Texas

(Credit: Jeff Roberts)

Published

on

Following the rescindment of CEO Elon Musk’s pay package, Tesla is considering moving its incorporation status from Delaware to Texas, and it is just one step away from doing so.

Earlier this week, we covered Musk’s pay package and how a Shareholder who challenged it in court won based on Delaware Chancery Court Judge Kathaleen McCormick’s opinion that the “unfathomable sum” of money awarded was unjust and unfair to the company’s investors.

Elon Musk’s Tesla pay package gets voided, Judge rules in favor of shareholder

There have been a lot of different perspectives on the decision, but following the news, Musk immediately stated that companies should not incorporate their businesses in Delaware.

Advertisement

It now seems he has one foot out the door.

Tesla could incorporate into Texas

Musk posted a poll to X on Tuesday asking if Tesla should change its State of Incorporation to Texas, where its headquarters is located. After 1.1 million votes, 87.1 percent of respondents said yes.

Advertisement

The Tesla CEO also said after the poll was complete that it would “immediately” hold a shareholder vote to transfer its State of Incorporation from Delaware to Texas. Based on the vote on X, it will be voted by Tesla shareholders that the company should move to Texas.

Why did Tesla incorporate in Delaware?

Tesla, along with many other large companies, are incorporated in Delaware for several reasons, including tax reasons and privacy.

According to LegalZoom, the advantages of incorporating a business in Delaware include:

  • Tax benefits
  • Corporation court, which helps encourage more predictable outcomes
  • Quickly processed filings
  • Privacy
  • Residency is not required
  • Slimmed-down corporate structure
  • Angel investors or Venture Capitalists prefer Delaware incorporation

I’d love to hear from you! 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.

Advertisement

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

Advertisement
Comments

News

Tesla Supercharger vandalized with frozen cables and anti-Musk imagery amid Sweden union dispute

The incident comes amid Tesla’s ongoing labor dispute with IF Metall.

Published

on

Credit: Tesla Charging/X

Tesla’s Supercharger site in Vansbro, Sweden, was vandalized during peak winter travel weeks. Images shared to local media showed frozen charging cables and a banner reading “Go home Elon,” which was complete with a graphic of Musk’s controversial gesture. 

The incident comes amid Tesla’s ongoing labor dispute with IF Metall, which has been striking against the company for more than two years over collective bargaining agreements, as noted in a report from Expressen.

Local resident Stefan Jakobsson said he arrived at the Vansbro charging station to find a board criticizing Elon Musk and accusing Tesla of strikebreaking. He also found the charging cables frozen after someone seemingly poured water over them.

“I laughed a little and it was pretty nicely drawn. But it was a bit unnecessary,” Jakobsson said. “They don’t have to do vandalism because they’re angry at Elon Musk.”

Advertisement

The site has seen heavy traffic during Sweden’s winter sports holidays, with travelers heading toward Sälen and other mountain destinations. Jakobsson said long lines formed last weekend, with roughly 50 Teslas and other EVs waiting to charge.

Tesla Superchargers in Sweden are typically open to other electric vehicle brands, making them a reliable option for all EV owners. 

Tesla installed a generator at the location after sympathy strikes from other unions disrupted power supply to some stations. The generator itself was reportedly not working on the morning of the incident, though it is unclear whether that was connected to the protest.

The dispute between Tesla and IF Metall centers on the company’s refusal to sign a collective agreement covering Swedish workers. The strike has drawn support from other unions, including Seko, which has taken steps affecting electricity supply to certain Tesla facilities. Tesla Sweden, for its part, has insisted that its workers are already fairly compensated and it does not need a collective agreement,

Advertisement

Jesper Pettersson, press spokesperson for IF Metall, criticized Tesla’s use of generators to keep charging stations running. Still, IF Metall emphasized that it strongly distances itself from the vandalism incident at the Vansbro Supercharger.

“We think it is remarkable that instead of taking the easy route and signing a collective agreement for our members, they are choosing to use every possible means to get around the strike,” Pettersson said.

Advertisement
Continue Reading

News

Tesla Cybertruck owner credits FSD for saving life after freeway medical emergency

The incident was shared by the Tesla owner on social media platform X, where it caught the attention of numerous users, including Tesla CEO Elon Musk.

Published

on

Credit: Tesla

A Tesla Cybertruck owner has credited Full Self-Driving (FSD) Supervised for saving his life after he experienced a medical emergency on the freeway.

The incident was shared by the Tesla owner on social media platform X, where it caught the attention of numerous users, including Tesla CEO Elon Musk.

In a post on X, Cybertruck owner Rishi Vohra wrote that he had unintentionally fasted for 17 hours, taken medication, and experienced what he described as a severe allergic reaction while driving.

“What started as a normal drive turned terrifying fast. My body shut down. I passed out while driving on the freeway, mid-conversation with my wife on the phone,” he wrote.

Advertisement

Vohra stated that his Tesla was operating with FSD Supervised engaged at the time. According to his account, the Cybertruck detected that he had lost consciousness using its driver monitoring system, slowed down, activated hazard lights, and safely pulled over to the shoulder.

“Thank God my Tesla had Full Self-Driving engaged. It detected I lost consciousness (thanks to the driver monitoring system), immediately slowed, activated hazards, and safely pulled over to the shoulder. No crash. No danger to anyone else on the road,” Vohra wrote.

The Cybertruck owner added that his wife used Life360 to alert emergency services after hearing him go silent during their call. He said responders located him within five minutes. After being attended to, Vohra stated that the vehicle then drove him to the emergency room after he refused to leave his truck on the freeway.

“So the Tesla autonomously drove me the rest of the way to the ER. I walked in, got admitted, and they stabilized me overnight,” he wrote.

Advertisement

He later posted that he was being discharged and thanked Tesla and Elon Musk. Musk replied to the post, writing, “Glad you’re ok!” The official Tesla X account also reposted Vohra’s story with a heart emoji. 

Tesla recently published updated safety data of vehicles operating with FSD (Supervised) engaged. As per Tesla’s latest North America figures, vehicles operating with FSD (Supervised) engaged recorded one major collision every 5,300,676 miles. The U.S. average is one major collision every 660,164 miles. 

Considering the experience of the Cybertruck owner, Tesla’s safety data does seem to hold a lot of water. A vehicle that is manually driven would have likely crashed or caused a pileup if its driver lost consciousness in the middle of the freeway, after all. 

Continue Reading

News

Tesla Cyberbeast price drops to less than $100k but loses Luxe package with FSD

The change adjusts the truck’s positioning in the high-performance premium EV pickup truck segment, where several rivals now command six-figure price tags.

Published

on

Credit: Tesla

Tesla has reduced the price of the Cyberbeast to below $99,990, but the update also removes a compelling feature set from the vehicle.

The change adjusts the truck’s positioning in the high-performance premium EV pickup truck segment, where several rivals now command six-figure price tags.

Prior to its price adjustment, the Cyberbeast was listed for $114,990. However, the vehicle’s prior configuration included a Luxe package that bundled features such as Full Self-Driving Supervised and other premium inclusions. That package is no longer listed as part of the Cyberbeast.

For its sub $100,000 price, the Cyberbeast offers 325 miles of estimated range, a 0-60 mph time of 2.6 seconds, a payload capacity of 2,271 lbs with the Cyber Wheel, and Powershare.

Advertisement

Interestingly enough, the Cyberbeast now undercuts some of its most powerful competitors with its updated price. The Rivian R1T Quad, for example, starts at $116,900, though the R1T has more range at 374 miles per charge, and it is also a bit faster with a 0-60 mph time of 2.5 seconds. 

Other rivals include the GMC Hummer EV 3X Omega Edition Truck, which has a starting MSRP of approximately $148,000 before dealer markups, the Chevy Silverado EV LT Max Range, which starts at over $91,000 before dealer markups, and the GMC Sierra EV Denali Max, which starts at about $101,000. 

Considering that rivals like the Rivian R1T Quad, Chevy Silverado EV LT Max Range, and GMC Sierra EV Denali Max outgun the Cyberbeast in raw range, the Cyberbeast’s competitiveness will likely rely on its Full Self Driving Supervised system, which allows it to navigate inner city streets and highways. 

For $99 per month, the Cyberbeast practically becomes a self-driving vehicle, and that is something that its rivals cannot match, at least for now. 

Advertisement
Continue Reading