News
Volkswagen boss believes €20k EV is coming during second half of 2020s
Volkswagen boss Oliver Blume believes the company’s €20,000 ($21,714) electric vehicle could come in the second half of the 2020s, despite the fact the German automaker has not made an outright decision on producing such an affordable model yet.
Blume said at a conference today that he believes if Volkswagen decides to build an ultra-affordable EV for customers who are not willing to spend upwards of €30,000 or even €40,000 for a new car, it will come after 2025.
Blume said the key to reducing EV prices is first reducing battery costs, which will then result in cheaper electric cars that will bring more customers in at a more affordable price point. Right now, EVs are cheaper than they have ever been, and there are more options than in past years.
Still, there are a lot of companies that have not been able to bring prices down to a point where they are ultra-affordable. Even with government subsidies in many countries, which were created to entice consumers to buy more affordable EVs, many models are still too pricey for some car buyers to consider.
Many automakers have been discussing the potential for new, more affordable models, including Tesla, which has hinted that a €25,000 EV would be coming to the European market from Gigafactory Berlin in Germany.
Tesla has also said that it will produce similarly priced models at Gigafactory Texas and in Shanghai. A production line has also been talked about at the upcoming Gigafactory Mexico.
In March, Volkswagen said it was discussing plans for a €20,000 vehicle, but no information regarding production timing or any specifics about the car were disclosed.
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“We have a responsibility to bring the right products at the right price onto the market,” Blume said, according to Reuters.
Volkswagen faces a similar problem to other EV makers that have not been able to bring prices down substantially to reach a new consumer sector. As early adopters of EVs were able and willing to spend tens of thousands, and sometimes more, on the early cars that hit the market, prices have come down as companies have scaled production to the point that they can offer slightly more affordable vehicles.
However, there are still many car buyers who are simply priced out of these early models, and in order to hit lofty EV sales goals by the end of the decade, these companies are being forced to consider routes to bring more affordable EVs to their lineups.
“After early adopters were reached with electric cars, we now need consumers to be convinced by the technology, who don’t have the opportunity to install a charging station at home,” Blume added.
He also said that other challenges, like inflation, charging infrastructure, and subsidy removal, were holding back EV demand.
Last week, Volkswagen said it planned to launch a $35,000 EV in the U.S. within the next 3-4 years, which would bring more potential car buyers to VW when considering an electric car.
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Elon Musk
Delaware Supreme Court reinstates Elon Musk’s 2018 Tesla CEO pay package
The unanimous decision criticized the prior total rescission as “improper and inequitable,” arguing that it left Musk uncompensated for six years of transformative leadership at Tesla.
The Delaware Supreme Court has overturned a lower court ruling, reinstating Elon Musk’s 2018 compensation package originally valued at $56 billion but now worth approximately $139 billion due to Tesla’s soaring stock price.
The unanimous decision criticized the prior total rescission as “improper and inequitable,” arguing that it left Musk uncompensated for six years of transformative leadership at Tesla. Musk quickly celebrated the outcome on X, stating that he felt “vindicated.” He also shared his gratitude to TSLA shareholders.
Delaware Supreme Court makes a decision
In a 49-page ruling Friday, the Delaware Supreme Court reversed Chancellor Kathaleen McCormick’s 2024 decision that voided the 2018 package over alleged board conflicts and inadequate shareholder disclosures. The high court acknowledged varying views on liability but agreed rescission was excessive, stating it “leaves Musk uncompensated for his time and efforts over a period of six years.”
The 2018 plan granted Musk options on about 304 million shares upon hitting aggressive milestones, all of which were achieved ahead of time. Shareholders overwhelmingly approved it initially in 2018 and ratified it once again in 2024 after the Delaware lower court struck it down. The case against Musk’s 2018 pay package was filed by plaintiff Richard Tornetta, who held just nine shares when the compensation plan was approved.
A hard-fought victory
As noted in a Reuters report, Tesla’s win avoids a potential $26 billion earnings hit from replacing the award at current prices. Tesla, now Texas-incorporated, had hedged with interim plans, including a November 2025 shareholder-approved package potentially worth $878 billion tied to Robotaxi and Optimus goals and other extremely aggressive operational milestones.
The saga surrounding Elon Musk’s 2018 pay package ultimately damaged Delaware’s corporate appeal, prompting a number of high-profile firms, such as Dropbox, Roblox, Trade Desk, and Coinbase, to follow Tesla’s exodus out of the state. What added more fuel to the issue was the fact that Tornetta’s legal team, following the lower court’s 2024 decision, demanded a fee request of more than $5.1 billion worth of TSLA stock, which was equal to an hourly rate of over $200,000.
Delaware Supreme Court Elon Musk 2018 Pay Package by Simon Alvarez
News
Tesla Cybercab tests are going on overdrive with production-ready units
Tesla is ramping its real-world tests of the Cybercab, with multiple sightings of the vehicle being reported across social media this week.
Tesla is ramping its real-world tests of the Cybercab, with multiple sightings of the autonomous two-seater being reported across social media this week. Based on videos of the vehicle that have been shared online, it appears that Cybercab tests are underway across multiple states.
Recent Cybercab sightings
Reports of Cybercab tests have ramped this week, with a vehicle that looked like a production-ready prototype being spotted at Apple’s Visitor Center in California. The vehicle in this sighting was interesting as it was equipped with a steering wheel. The vehicle also featured some changes to the design of its brake lights.
The Cybercab was also filmed testing at the Fremont factory’s test track, which also seemed to involve a vehicle that looked production-ready. This also seemed to be the case for a Cybercab that was spotted in Austin, Texas, which happened to be undergoing real-world tests. Overall, these sightings suggest that Cybercab testing is fully underway, and the vehicle is really moving towards production.
Production design all but finalized?
Recently, a near-production-ready Cybercab was showcased at Tesla’s Santana Row showroom in San Jose. The vehicle was equipped with frameless windows, dual windshield wipers, powered butterfly door struts, an extended front splitter, an updated lightbar, new wheel covers, and a license plate bracket. Interior updates include redesigned dash/door panels, refined seats with center cupholders, updated carpet, and what appeared to be improved legroom.
There seems to be a pretty good chance that the Cybercab’s design has been all but finalized, at least considering Elon Musk’s comments at the 2025 Annual Shareholder Meeting. During the event, Musk confirmed that the vehicle will enter production around April 2026, and its production targets will be quite ambitious.
News
Tesla gets a win in Sweden as union withdraws potentially “illegal” blockade
As per recent reports, the Vision union’s planned anti-Tesla action might have been illegal.
Swedish union Vision has withdrawn its sympathy blockade against Tesla’s planned service center and showroom in Kalmar. As per recent reports, the Vision union’s planned anti-Tesla action might have been illegal.
Vision’s decision to pull the blockade
Vision announced the blockade in early December, stating that it was targeting the administrative handling of Tesla’s facility permits in Kalmar municipality. The sympathy measure was expected to start Monday, but was formally withdrawn via documents sent to the Mediation Institute and Kalmar Municipality last week.
As noted in a Daggers Arbete report, plans for the strike were ultimately pulled after employer group SKR highlighted potential illegality under the Public Employment Act. Vision stressed its continued backing for the Swedish labor model, though Deputy negotiation manager Oskar Pettersson explained that the Vision union and IF Metall made the decision to cancel the planned strike together.
“We will not continue to challenge the regulations,” Petterson said. “The objection was of a technical nature. We made the assessment together with IF Metall that we were not in a position to challenge the legal assessment of whether we could take this particular action against Tesla. Therefore, we chose to revoke the notice itself.”
The SKR’s warning
Petterson also stated that SKR’s technical objection to the Vision union’s planned anti-Tesla strike framed the protest as an unauthorized act. “It was a legal assessment of the situation. Both for us and for IF Metall, it is important to be clear that we stand for the Swedish model. But we should not continue to challenge the regulations and risk getting judgments that lead nowhere in the application of the regulations,” he said.
Vision ultimately canceled its planned blockade against Tesla on December 9. With Vision’s withdrawal, few obstacles remain for Tesla’s long-planned Kalmar site. A foreign electrical firm completed work this fall, and Tesla’s Careers page currently lists a full-time service manager position based there, signaling an imminent opening.
Delaware Supreme Court reinstates Elon Musk’s 2018 Tesla CEO pay package
Tesla Cybercab tests are going on overdrive with production-ready units
