News
Twitter to adopt ‘poison pill’ strategy to fend off Musk’s $43B bid for platform
Twitter’s Board will adopt the “poison pill” strategy to fend off Tesla CEO Elon Musk’s $43 billion bid to buy the social media platform.
A new statement from Twitter released just after noon on Friday in New York said the company plans to adopt “limited duration shareholder rights plan, enabling all shareholders realize full value of company.”
“Twitter, Inc. (NYSE: TWTR) today announced that its Board of Directors has unanimously adopted a limited duration shareholder rights plan (the “Rights Plan”). The Board adopted the Rights Plan following an unsolicited, non-binding proposal to acquire Twitter,” the company said in a statement. “The Rights Plan does not prevent the Board from engaging with parties or accepting an acquisition proposal if the Board believes that it is in the best interests of Twitter and its shareholders.”
A “poison pill” method allows shareholders to purchase more shares at a steep discount, making the likelihood of a hostile takeover decrease. Pizza chain Papa John’s used the strategy in June 2018 to prevent ousted founder John Schnatter from gaining control of the company. Netflix also used the “poison pill” strategy in 2012.
“The Rights Plan is intended to enable all shareholders to realize the full value of their investment in Twitter,” the platform said. “The Rights Plan will reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interests of shareholders.”
Musk, who offered to buy Twitter for $54.20 per share yesterday, has stood by the fact that he is not sure whether he will be able to buy the company because of the board, but that he is financially able. However, he has spoken out that, if the Board’s decision is to not allow the buyout, Twitter would be not obliging by the “fiduciary duty” it owes its shareholders. “If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty,” Musk said on Thursday. “The liability they would thereby assume would be titanic in scale.”
If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty.
The liability they would thereby assume would be titanic in scale.
— Elon Musk (@elonmusk) April 14, 2022
Wedbush’s Dan Ives believes Twitter’s course of action could be challenged legally. “Twitter going down the poison pill path is a predictable defensive measure for the Board to go down that will not be viewed positively by shareholders given the potential dilution and acquisition unfriendly move,” Ives said regarding the platform’s statement. “Likely challenged in Courts,” he added.
Musk said there is a “Plan B” if Twitter does not agree to the sale.
Disclosure: Joey Klender is a TSLA shareholder but is not a TWTR shareholder.
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.
News
Tesla China rolls out Model Y L V2L adapter, and it’s free for early owners
Tesla China announced the rollout of the Model Y L’s AC external power adapter on social media platforms such as Weibo.
Tesla China has released a useful new accessory for the Model Y L, and it is free for some owners. With the accessory, the Model Y L effectively becomes a giant power bank that owners can use to power appliances when they are camping, or if their homes are hit by a power outage.
Tesla Model Y L V2L adapter
Tesla China announced the rollout of the Model Y L’s AC external power adapter on social media platforms such as Weibo. As per the product’s advertisement, the Model Y L could provide up to 2,200W of power with its adapter, allowing it to support numerous appliances on the go. Of course, but could also be used to charge devices during power outages.
Tesla China notes that the adapter’s current is 220V, and it also features an IP44 protection grade. Tesla notes that the adapter could operate at temperatures between -30℃ ~ +50℃. The Model Y L’s V2L functionality would not work if the vehicle’s battery is less than 10%, however.
Tesla China’s official shop is selling its AC external power adapter for a reasonable price. The product could be purchased for RMB599, which is equivalent to $85. That’s a great price for an accessory that could make car camping sessions several times more convenient.
Free for early Model Y L owners
While the Model Y L’s AC external power adapter is priced reasonably at the Tesla China shop, the accessory is available for free for early owners of the extended wheelbase six-seat all-electric crossover. This was highlighted in a message that Tesla China reportedly sent to owners of the vehicle.
“Your Tesla account is eligible for a free Model Y L dedicated AC external power adapter. Please log in to the online store to add the adapter to your cart. Once the system verifies it correctly, the price will automatically change to 0 yuan before placing the order. We will send it to you via express delivery subsequently.
“This free qualification is only for the first owner of the Model YL who did not receive an AC external power adapter at pickup, valid until February 28, 2026. Failure to place an order upon expiration will be considered as a waiver of eligibility. If there is a temporary shortage of goods, please be patient and we will reschedule the replenishment by the end of January 2026,” Tesla China wrote.
News
Tesla Cybertruck and Model 3 program manager steps down
The now-former executive played a central role in several of Tesla’s key milestones.
Siddhant Awasthi, Tesla’s Program Manager for the Cybertruck and Model 3, has announced his departure after eight years with the company. Starting as an intern, Awasthi played a central role in several of Tesla’s key milestones, from the ramp-up of the Model 3 and Giga Shanghai to the launch of the long-awaited Cybertruck.
From intern to program leader
In a social media post, Awasthi described leaving Tesla as “one of the hardest decisions” of his life. He credited CEO Elon Musk, Tesla’s leadership team, and his colleagues for helping turn ambitious ideas into tangible vehicles. During his tenure, Awasthi contributed to Tesla’s global expansion and the evolution of its vehicle electronics and wireless systems, culminating in the Cybertruck’s long-anticipated rollout in late 2023.
He noted the intensity and innovation of his Tesla years, calling the experience “a thrilling journey” that shaped his career before the age of 30. “It’s been an absolute privilege,” he wrote, adding that working with “rockstar colleagues” made even the most demanding days worthwhile.
Tesla’s leadership transitions
Awasthi’s departure comes as Tesla continues to scale global operations and prepare for major product updates, including next-gen vehicle platforms and software-driven improvements. Despite stepping away, Awasthi voiced confidence in Tesla’s future. “I’m confident Tesla will nail its next big mission,” he said, highlighting his belief in the company’s capacity to deliver breakthrough products and improve safety for drivers worldwide.
“This decision wasn’t easy, especially with so much exciting growth on the horizon. Tesla vehicles are incredibly complex systems that often don’t get the credit they deserve, but I’ve witnessed firsthand how they’ve changed lives—for our customers, my friends, and my family—adding real value and, above all, improving safety. I’m confident Tesla will nail its next big mission (especially after last week), and I’m truly excited for the next chapter of my life,” the former Tesla executive wrote.
News
Tesla is launching a crazy new Rental program with cheap daily rates
This week, Tesla launched its in-house Rental program that will give people a vehicle for between three to seven days, with prices varying and starting at just $60 per day.
Tesla is launching a crazy new Rental program with cheap daily rates, giving people the opportunity to borrow a vehicle in the company’s lineup with an outrageous number of perks.
This week, Tesla launched its in-house Rental program that will give people a vehicle for between three to seven days, with prices varying and starting at just $60 per day.
However, there are additional perks that make it a really great deal, including Free Supercharging and Free Full Self-Driving (Supervised) for the duration of the rental.
There are no limits on mileage or charging, although the terms do not allow you to leave the state you are renting.
Tesla wrote in an email advertising the program:
“Rent a Tesla and see how it makes every errand, commute, and road trip more fun. While it’s yours, try Full Self-Driving (Supervised) and control and monitor your vehicle with the Tesla app.
Schedule your rental for three to seven days starting at $60 per day (plus taxes and fees) and charge for free at any Tesla-owned Supercharger.
Order your own Tesla within seven days of your rental to get up to a $250 credit toward your purchase.”
This is a great opportunity that will convince MANY people to make the jump.
All your concerns about switching are answered within two days. It’s easier than owning a gas car ever has been. https://t.co/QayTf6YVbw pic.twitter.com/TCHqfTRpes
— TESLARATI (@Teslarati) November 8, 2025
Tesla has long adopted the mentality that butts in seats will sell cars, and for the most part, it is a great strategy. Driving a Tesla is different from owning and driving a combustion engine vehicle; it truly feels as if you are in a car from the past when you get back in an ICE car.
This strategy could be looked at as more of a way for people to experience Tesla ownership than anything.
Although some might use it as a typical rental program that will see it be a cool way to drive without putting miles on a personal car, most will use it as the 48-hour test drive was designed for, which is a short-term way to experience EV ownership.
Tesla is only offering this program at a handful of locations currently, including San Diego and Costa Mesa, California.
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