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Tesla victorious in misleading statement suit for Full Self-Driving

Credit: Tesla

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Tesla was victorious in a lawsuit that claimed some of its statements regarding its Full Self-Driving suite were misleading and were used to push its stock price upward.

U.S. District Judge Araceli Martínez-Olguín dismissed the suit, which was brought on by shareholders, who said CEO Elon Musk exaggerated the capabilities and timeline of Tesla Full Self-Driving capabilities.

Bloomberg, who first reported on the suit’s dismissal, used the example of Musk stating drivers would be able to sleep in their cars while they traveled by 2020.

Judge Martínez-Olguín said some of the statements were in regard to future plans, but others were not technically false.

The report stated:

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“Plaintiffs fail to connect Musk’s hands-on management with any information that he allegedly learned rendering his statements false or misleading.”

The claim from the plaintiffs was that Musk said these things to push the stock price upward. When it did spike, the suit claims he sold $39 billion in stock.

However, the suit has been thrown out.

Tesla Full Self-Driving presents billions in growth by 2030, firm says

Tesla has definitely been extremely aggressive with its timelines. It has said for many years that it would solve self-driving “by the end of the year” or “by the end of next year,” but it has failed to do so.

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This is not to say Tesla has not done a lot to advance semi-autonomous driving capabilities within its vehicles.

On October 10, Tesla will unveil its Robotaxi platform, which will be its biggest step toward a self-driving vehicle.

The suit is labeled as Lamontagne v. Tesla Inc., 23-cv-00869, US District Court, Northern District of California.

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.

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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

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Radical Tesla aero patent may make new Roadster’s ~1-sec 0-60 mph launch feasible

The patent is for a multi-mode active aero system that uses fans and deployable skirts to generate controllable downforce.

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Credit: @SmokeAwayyy/X

A radical new patent from Tesla has provided a potential hint at a technology that the electric vehicle maker can utilize to meet the new Roadster’s ambitious 0-60 mph targets. If the technology outlined in the patent does come into fruition, it could help the Roadster stay planted on the ground even as it executes extremely rapid and demanding driving maneuvers.

The Roadster’s 0-60 mph time

When the new Roadster was announced way back in late 2017, Elon Musk stated that the upcoming vehicle would have a 0-60 mph time of 1.9 seconds. This was impressive, but the new Roadster has become so late that this metric is no longer industry-leading. Even Tesla’s own Model S Plaid, a large and heavy family sedan, can now hit a 0-60 mph time in 1.99 seconds, all for a price that starts just under $100,000.

Back in February 2024, Elon Musk stated that Tesla “radically increased the design goals for the new Tesla Roadster.” He stated that there will never be another car like the Roadster, if it could even be called a car. Musk also added that Tesla is now looking to achieve a 0-60 mph time in less than one second with the new Roadster, though this would be the “least interesting part” of the vehicle.

Inasmuch as a 0-60 mph time of 1 second or less sounds insane, these figures are achieved by vehicles like top fuel dragsters, which could accelerate well under 1 second. Of course, these vehicles are specialized machines and not road legal by any means, so the Roadster would still be in a class of its own if Tesla does manage to achieve a sub-1-second 0-60 mph time.

Tesla’s new aero patent 

A new patent from Tesla has now outlined a technology that could be a perfect fit for the upcoming all-electric supercar. Tesla’s patent is for a multi-mode active aero system that uses fans and deployable skirts to generate controllable downforce. This should pave the way for optimal vehicle grip and performance across varying conditions, from the track to the drag strip.

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Tesla describes the patent’s technology as follows: 

“The system operates by creating bounded (e.g., sealed or partially-sealed) regions beneath the vehicle through the selective deployment of skirts that interact with the ground surface. Fans positioned in airflow pathways that extend to these bounded regions generate low pressure within these areas by extracting air, creating downforce that enhances vehicle grip and stability (e.g., by creating a vacuum, or partial vacuum in the bounded regions).”

If Tesla could indeed create a fully bounded region under the new Roadster using the technology outlined in the patent, the company could all ensure that the all-electric supercar always has perfect traction when it launches. It could also help the vehicle handle better in corners, which would be useful if the Roadster were to attempt setting records in tracks such as the Nurburgring.

Check out Tesla’s patent below.

Tesla Roadster Patent by Simon Alvarez on Scribd

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Tesla’s new Robotaxi geofence shape is an FU by Elon Musk to the competition

Maybe it’s all pareidolia. But maybe it’s not. After all, Tesla embraced the first geofence expansion for what it appeared to be.

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tesla austin robotaxi geofence and elon musk laugh from meme review

Tesla expanded its Robotaxi geofence in Austin once again early Sunday morning. The new shape seems to be somewhat of a proverbial, and potentially literal, middle finger to the competition.

If you thought the first expansion was a message to the competition and doubters of the company’s ride-hailing service, you probably will believe the second expansion is an even stronger gesture.

Tesla’s first expansion did not go unnoticed, as its shape was particularly recognizable. The company has always operated with a sense of humor, and it embraced what it did. Some, including me, took it as a message to competitors: We can expand in any direction, in any size, at any time. We’ll prove it.”

They picked a shape and went with it:

Tesla’s Robotaxi expansion wasn’t a joke, it was a warning to competitors

It is evident that Tesla is keeping its humor up to continue to show a few things. The first is that it really can expand in any direction it wants and that’s how it is choosing to show it.

The second, well, maybe it’s an edgier way to show doubters that it is really executing on Robotaxi:

Maybe it’s all pareidolia. But maybe it’s not. After all, Tesla embraced the first geofence expansion for what it appeared to be. This might be a similar occurrence, and it might be sending another message to the competition, critics, and doubters.

The expansion was a near-doubling of the geofence Tesla offered previously. After the initial geofence covered just about 20 square miles, Tesla was able to more than double it to 42 square miles with the first growth. This new geofence shape was just under double, and is about 80 square miles.

Tesla’s rapid expansion has impressed many, especially considering the service area has roughly doubled for the second time in well under two months. The Robotaxi service was first offered on June 22.

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Tesla executes ‘a must’ with Musk as race to AI supremacy goes on: Wedbush

Dan Ives of Wedbush says Tesla made the right move getting Elon Musk his pay package.

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Steve Jurvetson, CC BY 2.0 , via Wikimedia Commons

Tesla (NASDAQ: TSLA) executed what Wedbush’s Dan Ives called “a must” this morning as it finalized a new pay package for its CEO Elon Musk.

The move helped give Musk his first meaningful compensation at Tesla since 2017, when the company offered a pay package that was based on performance and proven growth. That package was approved by shareholders on two separate occasions, but was denied to Musk both times by the Delaware Chancery Court.

On Monday, Tesla announced on X that it had created a new package that would give 96 million shares of restricted stock to Musk to compensate him for the “immense value generated for Tesla and all our shareholders.”

The details of the pay package are designed to retain Musk, who has voiced some concerns about his control of Tesla, as “activist shareholders” have used lawsuits to disrupt the previously approved package.

You can read all the details of it here:

Tesla rewards CEO Elon Musk with massive, restricted stock package

Ives says Musk’s retention is ‘a must’

Ives said in a note to investors on Monday that with the raging AI talent war that Tesla made a smart move by doing what it could to retain Musk.

He wrote:

“With the AI talent war now fully underway across Big Tech, we believe this was a strategic move to keep TSLA’s top asset, Musk, would stay focused at the company with his priority being to bolster the company’s growth strategy over the coming years. With this interim award increasing Musk’s voting rights upon this grant, which Musk honed in on and mentioned was increasingly important to incentivize him to stay focused on the matters at hand, this was a strategic move by the Board to solidify Musk as CEO of Tesla over the coming years with this framework for Musk’s pay package and greater voting control removing a major overhang on the story.”

He went on to say:

“While the groundwork is now in place for the next few years, it will be critical for the Tesla Board of Directors to get this long-term compensation strategy in place prior to the company’s November 6th shareholder meeting which would address the elephant in the room and remove a significant overhang on the stock.”

Wedbush maintained its Outperform rating and its $500 price target on the stock.

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