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UAW President reveals he has yet to talk to Elon Musk about Tesla’s possible union vote

(Credit: Tesla)

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United Auto Workers President Ray Curry recently revealed that he is yet to speak to Elon Musk about the possibility of Tesla holding a union vote. The idea of Tesla’s possible unionization came earlier this month after Musk invited the UAW to hold a vote at the company’s California plant.

“I’ve actually not talked to Mr. Musk or any representative of Tesla,” Curry said while speaking at a roundtable discussion with the Automotive Press Association on Tuesday. Curry covered several topics during his discussion, including how the electric vehicle transition would affect the UAW in the near future.

Curry also stated that if Elon Musk is serious about Tesla’s potential unionization, the company should rehire a union activist who was terminated in the past, and it must also stop attempting to overturn a ruling that it violated labor laws. Such actions, according to the UAW President, would be a “good faith effort” on Tesla’s part. It would also “demonstrate a commitment to the workers of the facility” at Tesla’s Fremont Factory in California.

The National Labor Relations Board has decided that the automaker violated labor laws when it terminated the employment of union activist Richard Ortiz, who was part of an organizing campaign called “Fair Future at Tesla.” The NLRB also took issue with a 2018 tweet from Elon Musk, which stated that while there is nothing stopping Tesla employees from voting union, it would result in the workers giving up their stock options. The NLRB ordered Musk to remove his offending tweet and rehire Ortiz, but the automaker is appealing the administrative court’s decision.

While Musk’s stance on the UAW has been known for a while, the CEO did extend an olive branch to the union earlier this month. While responding to KISS member Gene Simmons, who was urging US President Joe Biden to recognize Tesla’s workers despite them being non-union, Musk invited the UAW to hold a union vote at the Fremont Factory. Musk even assured the UAW that Tesla would do nothing to stop their efforts. “I’d like hereby to invite UAW to hold a union vote at their convenience. Tesla will do nothing to stop them,” Musk wrote.

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Despite Musk’s open invitation, the CEO recently took a shot at the UAW after Timothy Edmunds, a former union official at a suburban Detroit branch of the United Auto Workers, pleaded guilty to embezzling funds and money laundering. Prosecutors, who noted that Edmunds gambled away the money and spent some of the funds on guns, cars, and child-support payments, highlighted that defendant is the 17th defendant that has been convicted in an ongoing criminal investigation into corruption within the UAW.

In response to the news, Elon Musk noted on Twitter that the UAW should change its slogan. “UAW slogan – “Fighting for the right to embezzle money from auto workers!” Musk wrote, later adding that “The UAW stole millions from workers, whereas Tesla has made many workers millionaires (via stock grants). Subtle, but important difference.”

The Teslarati team would appreciate hearing from you. If you have any tips, reach out to me at maria@teslarati.com or via Twitter @Writer_01001101.

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Investor's Corner

Tesla analyst says this stock concern is overblown while maintaining $400 PT

Tesla reported $2.763 billion in regulatory credit profits last year.

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Credit: Tesla

One Tesla analyst is saying that a major stock concern that has been discussed as the Trump administration aims to eliminate many financial crutches for EV and sustainable industries is overblown.

As the White House continues to put an emphasis on natural gas, coal, and other fossil fuels, investors are concerned that high-powered sustainability stocks like Tesla stand to take big hits over the coming years.

However, Piper Sandler analyst Alexander Potter believes it is just the opposite, as a new note to investors released on Monday says that the situation, especially regarding regulatory credits, is “not as bad as you think.”

Tesla stacked emissions credits in 2023, while others posted deficits

There have been many things during the Trump administration so far that have led some investors to consider divesting from Tesla altogether. Many people have shied away due to concerns over demand, as the $7,500 new EV tax credit and $4,000 used EV tax credit will bow out at the end of Q3.

The Trump White House could also do away with emissions credits, which aim to give automakers a threshold of emissions to encourage EV production and cleaner powertrains. Companies that cannot meet this threshold can buy credits from other companies, and Tesla has benefitted from this program immensely over the past few years.

As the Trump administration considers eliminating this program, investors are concerned that it could significantly impact Tesla’s balance sheet. Potter believes the issue is overblown:

“We frequently receive questions about Tesla’s regulatory credits, and for good reason: the company received ~$3.5B in ‘free money’ last year, representing roughly 100% of FY24 free cash flow. So it’s fair to ask: will recent regulatory changes threaten Tesla’s earnings outlook? In short, we think the answer is no, at least not in 2025. We think that while it’s true that the U.S. government is committed to rescinding financial support for the EV and battery industries, Tesla will still book around $3B in credits this year, followed by $2.3B in 2026. This latter figure represents a modest reduction vs. our previous expectation…in our view, there’s no need for drastic estimate revisions. Note that it’s difficult to forecast the financial impact of regulatory credits — even Tesla itself struggles with this — but the attached analysis represents an honest effort.”

Tesla’s regulatory credit profitability by year is:

  • 2020: $1.58 billion
  • 2021: $1.465 billion
  • 2022: $1.776 billion
  • 2023: $1.79 billion
  • 2024: $2.763 billion

Potter and Piper Sandler maintained an ‘Overweight’ rating on the stock, and kept their $400 price target.

Tesla shares are trading at $329.63 at 11:39 a.m. on the East Coast.

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Tesla rolls out update to Robotaxi service that makes pickups so much better

The update was confirmed by CEO Elon Musk in a post on social media platform X.

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Credit: Joe Tegtmeyer/X

Tesla has rolled out a minor update to its Robotaxi service that will likely make the driverless ride-hailing system notably better and more convenient for consumers. The update was confirmed by CEO Elon Musk in a post on social media platform X.

Robotaxi service updates

The Robotaxi update was observed by users of the driverless ride-hailing service over the weekend. As observed by Tesla enthusiast Owen Sparks, the Austin Robotaxi fleet no longer strictly navigates to the pickup point listed on the app. Instead, the Robotaxis now stop in the exact location of a user’s phone.

Elon Musk confirmed the update, noting in a post on X that the change was an upgrade to the service. It’s a reactively minor update in the grand scheme of things, but it should make the Robotaxi service feel more organic and humanlike.

https://twitter.com/OwenSparks_/status/1947124143989923955
https://twitter.com/elonmusk/status/1947163583592452482

Driverless taxis

Tesla’s Robotaxi service in Austin has been receiving good reviews from users since it was launched, with many praising the vehicles for their cautious and humanlike behavior. Some users on social media even noted that Tesla’s Robotaxis feel safer on the road than cars from services like Uber, which are manually driven.

Tesla’s minor updates to its Robotaxi service are expected to make the customer experience of the driverless ride-hailing service more refined. By doing so, Tesla could ease customers into its service, even if only a fraction of ride-hailing users are familiar with fully autonomous cars. With this in mind, even small updates like picking up customers based on their specific phone location will likely go a long way towards making Tesla’s Robotaxis more accepted by the general public. 

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Tesla sells 3 million Model 3 since 2017, one in every 1.5 minutes

This translates to one Model 3 being sold every 1.5 minutes on average for the past eight years.

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Credit: Tesla China

Tesla has announced that the Model 3 sedan has sold 3 million units since it started customer deliveries in 2017. As per the electric vehicle maker, this translates to one Model 3 being sold every 1.5 minutes on average for the past eight years.

Massive Milestone

Tesla China VP Grace Tao announced the Model 3’s milestone on Weibo, highlighting that the all-electric sedan has been a tried and tested vehicle that has earned accolades throughout its tenure. She also highlighted that in a recent test, Car and Driver gave the Model 3 a perfect score. 

“Model 3 has become the choice of more than 3 million car owners worldwide, and has won the global pure electric sedan sales champion for seven consecutive years,” Tao wrote in her Weibo post. 

She also invited everyone to try and test drive the Model 3 sedan, so they could experience the vehicle personally. “Everyone is welcome to come to the store to test drive and experience this global car and champion car,” the Tesla executive added.

Tesla’s Mainstream Bet

There was once a time when Tesla’s future relied on the Model 3’s success. When the Model 3 was unveiled, Tesla was still gaining its footing as a premium automaker that produces the Model S and Model X. The Model 3 was the company’s first mass-market car, and it was Tesla’s first foray into serious mass production. At the time, it was no exaggeration to state that Tesla’s survival depended on the Model 3.

The Model 3’s runaway success was a victory not just for Tesla but for the overall electric vehicle sector as a whole. Because the Model 3 was simply a great car, electric or otherwise, it was able to prove that there is serious demand for reasonably-priced mass market EVs. It was also able to pave the way for the Model Y, Tesla’s mass market all-electric crossover that ultimately became the world’s best-selling car in 2023 and 2024.

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