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Tesla representative removed from auto dealer’s board by Virginia Senate
Tesla Inc. employee Cody Arnett was relieved of his post in Virginia’s Motor Vehicle Dealer Board earlier this week, amid an ongoing battle over the electric carmaker’s right to sell directly to consumers in the state. Arnett, who was appointed by former Governor Terry McAuliffe before he stepped down from office, raised some eyebrows among other members of the MVDB, many of whom felt that the Tesla employee was not qualified for the post.
His removal from the MVDB seemed to have been caused by strong opposition to Tesla’s dealership-free business model by the Virginia Automobile Dealers Association (VADA), an influential group of legacy auto dealers that holds to the notion that automakers must sell vehicles through franchised dealerships. Arnett, who currently works as a performance coach for Tesla, was set to serve for four years on Virginia’s Motor Vehicle Dealer Board. As one of the MVDB’s 19 members, Arnett was tasked with the regulation and oversight of new and used automobile dealers in the state. On January 15, however, the VADA formally submitted a request to strip the 29-year-old Tesla employee of his appointment.
According to the VADA, Arnett should not be allowed to serve on the MVDB because he was not the owner of a franchised vehicle dealership. In a statement to the Richmond Times-Dispatch, the auto group’s president and CEO, Don Hall, asserted that the technicality ultimately disqualifies the Tesla employee from holding one of the board’s 19 seats.
“The seat cannot be held by an employee of a dealer. It must be held by the owner of a dealership. I am sure the young man is a nice guy, and I am sure he has got great intentions, but the fact is he does not qualify,” Hall said, according to the Times-Dispatch.
The Virginia Automobile Dealers Association’s objection to Arnett’s appointment was submitted to Sen. Jill Holtzman Vogel, R-Fauquier, the chairwoman of the Senate Privileges and Elections Committee. Last Tuesday, the Senate committee decided to strip Arnett of his place in the MVDB, in what could only be described as a rare instance when a gubernatorial appointment was relieved from a post, as noted in a Washington Post report. Only one member of the committee, Sen. Adam Ebbin, D-Alexandria, voted to keep Arnett on the Motor Vehicle Dealer Board.
Arnett has been a longtime employee of Tesla, starting his tenure with the Elon Musk-led electric car maker and energy firm back in 2012. In a statement to the Times-Dispatch, Arnett stated that he received a dealer-operator license three years ago. He also revealed that he had already attended an MVDB meeting earlier this month.
In a statement to the Times-Dispatch on Wednesday, Tesla senior policy manager Brooke Kintz expressed the company’s disappointment at Arnett’s removal from the state’s Motor Vehicle Dealer Board.
“Arnett would have brought an important and innovative perspective to the board and to Virginians. Former Governor McAuliffe recognized this in appointing Cody, and as the holder of a license in Virginia, Tesla has just as much of a right to participate on the MVDB as anyone else.
“The decision of a small number of legislators to overturn Cody’s appointment at the urging of VADA is highly unusual if not unprecedented. It raises basic questions of fairness and improper political influence,” Kintz said.
Tesla currently operates one store at 9850 W. Broad St. in western Henrico County, Virginia, that doubles as a showroom and service center.
Tesla is atop the American-Made Index from Cars.com for the sixth-straight year, as the Model 3 and Model Y took the top two spots, respectively.
Last year, the Model 3, Model Y, Model S, and Model X took the top four spots, respectively. The company has routinely performed well in the Index. However, Tesla discontinued its flagship Model S and Model X earlier this year, which took the two cars out of the ranking.
Cybertruck is not considered due to its curb weight being above the 8,500-pound threshold, which eliminates it from being required to have more detailed assembly information.
Cars.com uses five main categories to develop its rankings:
- Location(s) of final assembly
- Percentage of U.S. and Canadian parts
- Countries of origin for all available engines
- Countries of origin for all available transmissions
- U.S. manufacturing workforce
These five major factors are then put into a 100-point scale. The vehicles with the highest scores sit atop the list. The Model 3 edged out the Model Y.
🇺🇸 The Tesla Model 3 and Tesla Model Y have been put atop the American-Made Index from https://t.co/PXZ0g1pPb6, meaning they are the most American vehicles you can possibly buy.
This is the SIXTH-STRAIGHT year a Tesla has been listed as the most American-made vehicle: pic.twitter.com/HyraOmaxSL
— TESLARATI (@Teslarati) June 23, 2026
Tesla uses a strong domestic strategy to build its cars and parts domestically. It relies on intense vertical integration that reduces its dependence on global suppliers, keeping more value and jobs in the United States.
This strategy has helped Tesla gain a strong reputation for domestically produced vehicles and parts. However, it helps it with more than just awards like this one. Keeping a supply chain local has also helped insulate Tesla more than others from tariffs and supply chain disruptions.
This year’s American-Made Index from Cars.com studied nearly 400 vehicles from the 2026 model year. Tesla was the only manufacturer to have an EV inside the Top 10. The Kia EV9 was the next EV to make the list, scoring the 17th position.
The Hyundai IONIQ 5 was 21st, and the final EV to make the list was the Cadillac LYRIQ in 77th.
Tesla has finally clarified the situation regarding the viral crash in Texas where a Model 3 slammed into a home.
CEO Elon Musk replied to reports on Monday that stated the crash was due to the company’s Full Self-Driving or Autopilot suite, which seemed unlikely to those who are familiar with it. Video showed the car slamming into a house at an excessive rate of speed, making it highly unlikely the crash was due to the suite’s operation, as it does not travel at those speeds in residential areas.
Musk said:
“This makes no sense. FSD drives slowly through neighborhood streets, and this was a high-speed crash!”
Tesla’s Head of AI, Ashok Elluswamy, added context, revealing that the company’s data shows the driver “manually overrode self-driving by pressing the accelerator all the way to 100%.”
He revealed the speed reached by the car was 73 MPH, and the accelerator was still pressed “even after the crash.”
Yup. In this case, the driver manually overrode self-driving by pressing the accelerator all the way to 100% of the accel pedal in this residential area. They reached a speed of 73 mph during the crash, and had the accelerator pressed even after the crash.
— Ashok Elluswamy (@aelluswamy) June 22, 2026
Authorities are reportedly investigating “whether Tesla’s Autopilot system played a role after a Model 3 left the roadway…slammed through a brick house at high speed and fatally struck Matha Avila as she sat inside,” the New York Post reported.
The National Highway Traffic Safety Administration (NHTSA) is now investigating the crash. Tesla will work with the agency to provide them with whatever information they need in order to clarify the cause of the crash.
Similarly, Tesla had claims of a fatal accident in Harris County, Texas, a few years ago. Early reports indicated that Full Self-Driving was the cause of the crash. After the National Transportation Safety Board (NTSB) worked with Tesla, the agency proved there was “no use of the Autopilot system at any time during this ownership period of the vehicle, including the time frame up to the last transmitted timestamp on April 17, 2021.”
Tesla alleged “driverless” crash in Texas: What is known so far
“Application of the accelerator pedal was found to be as high as 98.8 percent,” the NTSB said in their findings. The highest recorded speed in the five seconds leading up to the impact was 67 miles per hour. The area where the crash occurred is residential, and Texas State laws have default speed limits of 30 MPH in residential streets.
This appears to be a similar situation. However, an investigation will prove what happened for sure.
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
SpaceX officially acquires xAI, merging rockets with AI expertise
In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.
Tesla tops American-Made Index for sixth-consecutive year
Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration
