A group of Tesla Inc investors has urged the luxury electric vehicle maker to add two new independent directors to its board, without ties to Chief Executive Elon Musk, to “provide a critical check on possible dysfunctional group dynamics”.
Elon Musk has some advice for investors who say they’re fed up with his iron grip over Tesla’s board: buy Ford shares instead.
Specifically, the investors want Tesla to appoint two directors that don’t have any direct links to the company’s chairman and CEO Elon Musk. Musk’s reputation is such that within the hour, major news outlets were reporting on it, even though Tesla spokespersons decline to comment further. The reveal of the Class-8 truck will likely precede its official production by 12-18 months, if not more.
In outlining the company’s “master plan” last July, Musk said heavy-duty trucks were among the other types of electric vehicles needed in the marketplace and that Tesla expected to unveil its truck this year.
As a reminder, Steve Hanley points out: “Last July, Musk rolled out his Master Plan Part Deux (extra credit if you know what “Part Deux” refers to)”. Musk has said publicly that he predicts civilization will eventually “collapse” unless governments and everyday people can be persuaded to move away from carbon-based fuels to renewable energy sources. With a market capitalization of $50.887 billion, Tesla exceeded the value of General Motors by approximately $1 million. Tesla shares were up 3.0 percent to $311.74 near 1720 GMT, for a market capitalization of $51.43 billion, more than $1 billion above GM, a 109-year-old company that sold nearly 120 times as many cars as Tesla last year.
More recently, spy shots have also been circulating, as those release candidate vehicles are going through the paces in real-world testing in and around Tesla HQ, where anyone with a camera can snap a spy shot.
According to Alexander Potter, an analyst at Piper Jaffray, Tesla has an emotional pull not just on consumers but also investors.
Last year Mr Musk expressed the firm’s desire to branch out beyond cars.
Despite the recent positive performance of Tesla’s shares, some investors are still unhappy with the company’s Board.
Over the past few weeks, we’ve seen an increasing number of Model 3 spy shots make their way online.