XPEV - Elon Musk Cries Foul Over Pay Package Voidance Lucid's 25% Rally Ford's Struggling EV Sales And More: Biggest EV Stories Of The Week | Benzinga
The week saw electric vehicle giant Tesla, Inc. (NASDAQ:TSLA) rebound modestly from its post-earnings weakness even as the market awaited earnings from startups. Monthly deliveries reported by Chinese EV makers as well as Tesla showed the effect a slowing domestic economy has had on these companies.
Here are the key events that happened in the EV space during the week:
Musk’s Compensation Plan Verdict And More: Delaware Chancery Court Judge Court Chief Judge Kathleen McCormick’s verdict invalidating Tesla CEO Elon Musk’s $55 billion 2018 compensation plan polarized social media users this week. Tesla analysts saw the verdict as an opportunity for the board to announce a new compensation plan for its top man and in the process cede him more voting control — something he has demanded recently.
Meanwhile, Musk reacted by running a poll on X that asked whether the company should shift its place of incorporation from Delaware to Texas, where it is headquartered. Voters overwhelmingly supported a move to Texas. The billionaire also vented his frustration on the platform, decrying the perils of being a public company.
On the operational front, Tesla’s Giga Berlin made strides as it hit the weekly production milestone of 6,000 Model Y EVs, according to LinkedIn posts from executives at the plant.
In other news, Tesla recalled about 2.2 million ...