Connect with us
tesla's gigafactory texas in austin tesla's gigafactory texas in austin

Investor's Corner

Texas Governor Greg Abbott welcomes Tesla after reincorporation vote passes “Guaranteed Win” mark

(Credit: Tesla)

Published

on

Texas Governor Greg Abbott expressed his support to Elon Musk and Tesla after the CEO noted on X that TSLA investors are on track to ratify his 2018 CEO Performance Award and approve the electric vehicle maker’s proposed redomestication from Delaware to Texas. Gov. Abbott shared his thoughts in a post on his personal X account

As per Musk, the Tesla investors’ votes in favor of Proposals Three and Four in the 2024 Annual Stockholders Meeting have passed the “Guaranteed Win” mark. Thus, while the 2024 Cyber Roundup is still a few hours away, it appears that Tesla shareholders have already made their voices known with regards to the ratification of Elon Musk’s 2018 compensation plan and Tesla’s proposed reincorporation to Texas. 

Gov. Abbott congratulated Musk for getting the pay that he was promised back in 2018. “Congrats Elon on getting the pay you were promised and on your new incorporation in Texas. Welcome to a state that has neither a personal nor a corporate income tax,” the Texas Governor wrote in his post on X. 

Musk seemed to appreciate the official’s warm welcome, as he responded with a short “Thank you” to the Governor’s well-wishes. Amidst the interaction between the Texas Governor and the CEO, Tesla enthusiasts are now calling for the Lone Star state to finally allow the EV maker’s direct sales model. Others have also speculated that X might soon call Texas home as well. 

It should be noted that Musk’s 2018 CEO Performance Award had already been approved by TSLA shareholders back in 2018, but in late January, a Delaware Judge rescinded the compensation plan. In her Opinion, the Delaware Judge noted that Musk’s pay package was “unfair” and that the process for determining the package was “deeply flawed.”

Advertisement

Interestingly enough, the legal complaint against Musk’s pay package was filed by Richard Tornetta, a thrash metal drummer and Tesla shareholder who held nine shares in 2018, and whose legal team is currently requesting over 29 million TSLA shares — worth over $5 billion today — to be granted as their fee for the case. Such a fee would translate to a rate of over $200,000 an hour.

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

Comments

Elon Musk

NYC Comptroller moves to sue Tesla for securities violations

Published

on

MINISTÉRIO DAS COMUNICAÇÕES, CC BY 2.0 , via Wikimedia Commons

New York City Comptroller Brad Lander is urging the NYC Law Department to sue Tesla for securities violations related to CEO Elon Musk’s involvement in the Department of Government Efficiency (DOGE).

Lander said the basis for the potential litigation lies on “material misstatements from Tesla claiming that CEO Elon Musk spends significant time on the company and is highly active in its management, despite his helming the Trump Administration’s DOGE initiative.”

It is a common complaint amongst some Tesla shareholders who are less than enthusiastic about Musk’s involvement in DOGE. Some feel as if Musk is not concerned about Tesla, especially as the stock has dropped over 28 percent this year. However, Musk has continued to double down on his position within the U.S. government.

Nevertheless, Musk’s position in Tesla is still very apparent. He headed an All-Hands meeting just two weeks ago that showed his commitment to the company as he outlined future plans and even joked to employees that they should hold onto their stock.

However, Lander believes Musk’s involvement has hurt New York City pension systems, which have lost over $300 million so far this year. He said:

“In less than three months, Tesla stock has lost nearly 40% of its value, with losses over $300 million for the New York City pension systems. We have long expressed concerns that the Tesla board has failed to provide independent oversight, or to require that Musk – or someone else – serve as a full-time CEO.”

Lander went on to say that “material misstatements from Tesla misled investors about his role at the company,” stating this was his reasoning for calling on the Law Department to file securities litigation against the company.

He believes taking it to court will force changes and will return Tesla shares back to a level that will benefit pension systems in New York City:

“Shareholder litigation could force the changes in governance and leadership that Tesla needs, and help recover some of our pension systems’ losses. Otherwise, we may need to consider divestment.”

The pension systems would be able to pursue financial damages to cover losses and seek governance changes, it says.

Continue Reading

Investor's Corner

Tesla (TSLA) shares company-compiled Q1 2025 delivery consensus

Analysts are expecting the electric car maker to post 377,592 deliveries for Q1 2025.

Published

on

Credit: Tesla China

Tesla (NASDAQ:TSLA) has released its Q1 2025 company-compiled delivery consensus of sell-side analysts. Based on Tesla’s release, it appears that analysts are expecting Tesla to post conservative vehicle delivery results for the first quarter.

Images of Tesla’s Q1 2025 company-compiled consensus were shared recently on social media. 

The Consensus

As could be seen in Tesla’s first quarter 2025 company-compiled vehicle delivery consensus, analysts are expecting the electric car maker to post 377,592 deliveries for Q1 2025. Analysts expect this number to be comprised of 351,893 Model 3/Model Y and 21,241 other models.

The company-compiled consensus also suggests that Tesla will see total deliveries of 1,851,001 vehicles this Full Year 2025. From this number, analysts expect 1,693,397 units of the Model 3 and Model Y and 145,162 units of Tesla’s other models.

The sources

Tesla’s company-compiled consensus was based on estimates from 27 firms. These include Daiwa, DB, Wedbush, Cowen, OpCo, Canaccord, Baird, Wolfe, Exane, GS, Evercore ISI, Barclays, PSC, Mizuho, BofA, Wells Fargo, Morgan Stanley, Truist, UBS, Jefferies, Guggenheim, JPM, Redburn, Needham & Co, HSBC, Cantor Fitzgerald, and William Blair. 

Advertisement

FactSet expectations

As noted in an Investor’s Business Daily report, FactSet estimates suggest that Tesla will see vehicle deliveries of 407,900 units in Q1 2025. Such a number is quite optimistic considering that Tesla’s sales of its best-selling vehicle, the Model Y, were throttled during the quarter due to the company’s transition to the new Model Y. 

Beyond Q1 deliveries, Tesla’s first quarter vehicle delivery results could trigger revisions to the company’s full-year delivery and earnings forecasts. FactSet data shows Q1 earnings estimates hitting 48 cents per share, down from 57 cents in late January and 74 cents late last year. For 2025, analysts now see earnings per share climbing 13% to $2.74, a drop from $3.31 before the Q4 earnings release.

Continue Reading

Elon Musk

Elon Musk clarifies Trump tariff effect on Tesla: “The cost impact is not trivial”

The U.S. President has stated that Elon Musk stayed silent and provided no input in the administration’s tariffs.

Published

on

MINISTÉRIO DAS COMUNICAÇÕES, CC BY 2.0 , via Wikimedia Commons

U.S. President Donald Trump’s plan to implement a 25% tariff on non-U.S.-made vehicles starting next week would affect American electric car maker Tesla. 

This was confirmed by CEO Elon Musk in a recent post on social media platform X.

Musk and Trump

While Elon Musk works closely with the Trump administration due to his role in the Department of Government Efficiency (DOGE), the U.S. president has emphasized that the Tesla CEO never asks for favors. This was highlighted in his recent comments, when he stated that Elon Musk stayed silent and provided no input in the administration’s 25% auto tariffs.

When asked by reporters if the new tariffs would be good for Tesla, Trump noted that they may be “net neutral or they may be good.” The U.S. president also pointed to Tesla’s automotive plants in Fremont, California and Austin, Texas, which produce vehicles that are sold in the country. “Anybody that has plants in the United States — it’s going to be good for them,” Trump noted.

Tesla Affected

In a post on X, Elon Musk clarified that the Trump administration’s tariffs would affect the prices of vehicle parts that are sourced from other countries. This was a concern that Tesla previously outlined in a letter to the U.S. Trade Representative, which noted that even with “aggressive localization” of its supply chain, “certain parts and components are difficult or impossible to source within the United States.”

Advertisement

As per Musk in his recent post on X, the cost impact of the Trump administration’s tariffs is no joke. “To be clear, this will affect the price of parts in Tesla cars that come from other countries. The cost impact is not trivial,” Musk wrote in his post.

Potential Effects

Reactions to Musk’s comments from users of the social media platform were varied, with some speculating that the Trump auto tariffs could result in Teslas becoming more expensive in the United States. Despite this, the potential increases in Tesla’s vehicle prices might not be as notable as other cars, particularly those that are produced outside the country.

Continue Reading

Trending