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Leo KoGuan has invested more money into Tesla than anyone in the world, yet he can’t even get his concerns heard by the company’s board. The shareholder is frustrated with some of the CEO’s recent controversies, but with the board MIA, there’s no way to reign him in.

We first reported on KoGuan in 2021 when the little-known investor became the third largest individual shareholder in Tesla behind Elon Musk and Larry Ellison.

The Indonesian-born Chinese American businessman is better known for founding SHI International Corp, a large private IT company that made him a billionaire. He is also involved in academia and philanthropy.

KoGuan has previously described himself as an “Elon fanboy” (the featured image above is him and Musk) and believes in Tesla’s mission to accelerate the world’s transition to sustainable energy. He has been willing to put his money on it and by 2022, he had invested more money in Tesla than Musk himself.

Of course, Musk invested early in Tesla, and therefore, he holds a bigger share with a smaller investment.

KoGuan is the third largest individual shareholder in the company, but you could argue that he is the biggest Tesla investor as he invested more than anyone in the company: $3.5 billion.

The investor is active on X. On the platform, he has been mostly supportive of Musk and Tesla, but like many other shareholders, he started to be more critical since Musk sold about $40 billion worth of Tesla shares to buy Twitter.

Interestingly, KoGuan doesn’t really comment on Musk’s most controversial statements, but he is concerned about his sales of Tesla stocks, how he did them, and what it means for his commitment to Tesla.

More recently, he also made fun of Musk’s request to have 25% voting power of Tesla:

KoGuan likes to call Tesla shareholders Elon’s “adopted children” and more recently, his “abused adopted children”. “Dear leader” is a reference to Kim Jong-il, the former supreme leader of North Korea.

I asked him yesterday if he has received any feedback from Tesla’s board or investor relations regarding his concerns, and this was his response:

“No response. Nil. Tesla is a family business masquerading as a public company to benefit only one person with his few friends and family. “

KoGuan is particularly concerned about the lack of oversight on how Musk dumped his Tesla shares on the open market. He told Electrek:

Why SEC allowed a CEO of a public company to dump his stocks worth more than $40 billion naked in the market to push the price down while predicting a market crash? He is now negative investing in Tesla or about minus $39 billion. He could have asked Goldman Sachs and Morgan Staley to sell those in block sales to fund managements that could keep those stocks, not dumping them in the market? Tesla’s shareholders are his abused adopted kids whom he could abuse with impunity.

It is fairly common amongst large shareholders and company insiders to set up a plan to sell large amounts of stocks in order to minimize the impact on the market.

The investor is bringing up legitimate questions and even though he is one of the largest shareholders, he can’t be heard by the board.

The board of directors of a public company is tasked with setting strategy, overseeing management, and protecting the interests of shareholders and stakeholders. It is technically overseeing the CEO, Elon Musk, who is, in turn, in charge of the entire management and operation of the company.

For large companies like Tesla, it is preferred that the board be independent of the management, but in the case of Tesla, the board has long been seen as being under Musk’s control. As Tesla grew, shareholders put pressure to hire independent board members, which Tesla eventually did.

But the board is still widely believed to be too close to Musk.  Musk’s brother Kimbal, as well as longtime friends Ira Ehrenpreis, James Murdoch, and JB Straubel, are all on the board.

The board has also been granted record high compensations and even had to return $735 million in stock and cash as part of the settlement of a lawsuit brought on by shareholders over what they believed to be overcompensation.

Electrek’s Take

“Tesla is a family business masquerading as a public company.” Those are strong words coming from the biggest investors in the company. And it’s hard to argue against those words.

Do you know of any other major public companies like Tesla that don’t even have a public relations department? Elon is basically the sole mouthpiece for the company.

Tesla has 140,000 employees. It’s worth more than $600 billion. And yet, it appears to be completely under Elon’s thumb, for better or worse. It might have been for the better early on. No one believed in the vision more than Elon. His unwavering belief in himself and the mission helped break through doubts, but now Tesla is a different company. It’s not the underdog fighting for the impossible anymore. It made the impossible happen. EVs are now mainstream. Energy storage is now a critical part of the renewable energy infrastructure.

Now, it is about properly managing the immense scaling of that business, which is badly needed to support the world’s transition to renewable energy. It’s about a wide appeal. It’s not about being decisive. Tesla might need strong governance more than it needs a maverick at this point.

As for the board, it remains silent and uncommunicative to shareholders despite serious conflicts of interest and even possibly a breach of fiduciary duties of its CEO.

In 2018, Elon left OpenAi officially to “avoid a conflict of interest as Tesla is increasingly working on artificial intelligence“.

Yet, now 6 years later, Elon poaches Tesla employees to work on X and his new AI startup xAI, and openly talks about not building AI products at Tesla if he doesn’t get 25% control over the company, but the board doesn’t do anything.

Even one of the biggest shareholders and supporters of the company, Leo KoGuan, can’t get his concerns heard by the board. What hope do smaller investors like us have? It’s shameful, really.

The fact that Elon has the guts to ask for more control over Tesla when it’s clear that he has complete control over the company right now is absolutely ridiculous.

Of course, he only wants control of the votes and “not more economics”, as he said, and it’s just a coincidence that there’s no way to give him more control over the votes without giving him more shares, which he wasted on an overpriced Twitter.

There wouldn’t be a Tesla without Musk. It would have died on several occasions without him. But Tesla also would have died without its strong base of retail investors. They need to be heard. The board needs to do better.

I still have a little bit of hope though. I think the board could find the courage to confront Musk and, at the very least, have him agree to a framework that keeps Tesla safe from his clear conflicts of interest. If even that can’t be achieved, it might be time for a new full-time CEO at Tesla.

What do you think? Let us know in the comment section below.

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This $15,000 Chinese EV can swap batteries faster than you can pump gas [Video]

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This $15,000 Chinese EV can swap batteries faster than you can pump gas [Video]

How does a fully charged battery in under 100 seconds sound? China’s CATL, GAC Group, and JD.com revealed a battery-swappable version of the Aion UT that can swap batteries quicker than you can pump gas.

The Aion UT Super can swap EV batteries in 99 seconds

The new battery swap version looks about the same as the current Aion UT sold in China, but it’s equipped with CATL’s Choco-SEB battery packs.

CATL introduced the new battery packs in December that can be swapped for a fully charged one in under 100 seconds, making it just as fast as filling up a gas tank.

The new Aion UT Super draws power from a 54.036 kWh CATL LFP battery, providing a CLTC driving range of 500 km (310 miles). Drivers can swap, charge, or rent batteries at one of CATL’s Choco Battery Swap Stations. It also features a single electric motor with 134 horsepower (100 kW).

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Measuring 4,270 mm in length, 1,850 mm in width, and 1,575 mm in height, with a wheelbase of 2,750 mm, the electric hatch is about the size of the Volkswagen ID.3.

Don’t feel like swapping? The electric hatchback can still recharge from 30% to 80% in 26 minutes, the company said.

Inside, the setup is relatively simple, with a floating infotainment screen at the center and a smaller driver display cluster.

The new Aion UT Super will be sold exclusively on JD.com, also known as the “Chinese Amazon.” GAC opened blind pre-orders on Wednesday ahead of its official launch next week during the 11.11 shopping festival, China’s largest shopping event.

According to CarNewsChina, prices for the swappable Aion UT Super are expected to range from 100,000 yuan ($14,000) to 120,000 yuan ($16,800).

Although the company promotes a full battery swap in as little as 99 seconds, it’s actually even quicker. A video from ThinkerCar shows the Aion UT Super swapping its battery at a CATL Chocolate Battery Swap Station in just 88 seconds.

The Aion UT Super joins other Chinese EVs, including the Changan Oshan 520, that are rolling out with CATL’s 99-second swappable batteries.

Several major Chinese brands, including GAC, Chery, NIO, FAW, and BAIC, are partnering with CATL to launch vehicles powered by its Choco-SEB batteries.

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Candela’s flying electric boats set to soar around the Maldives

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Candela’s flying electric boats set to soar around the Maldives

In a landmark move for sustainable maritime transport, Swedish firm Candela is bringing its hydrofoiling electric vessel, the Candela P‑12, to the Maldives, promising faster, cleaner, seasickness-free transfers from the airport to the remote atolls.

Reef rescue and comfort for tourists

The Maldives’ atolls face a serious threat from the thousands of twin-outboard speedboats that shuttle tourists and locals across the archipelago.

They’re heavy on fuel, produce large wakes, and are responsible for significant reef damage. These traditional gasoline-powered boats burn around 5 liters (1.3 gallons) of fuel per mile (15 times more than a bus), generate large wakes that erode coral, and emit CO₂ emissions that rank among the country’s worst.

Enter the P-12: By flying 1.5 meters (5 feet) above the water surface on two computer-controlled hydrofoils, it cuts energy consumption by 80% compared to conventional hulls, enabling long-range electric operation. The vessel produces minimal wake and engine noise, drastically reducing the impact on reef ecosystems and marine life – a critical win for one of the world’s most fragile marine environments.

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For vacationers, the change should be dramatic.

The ride inside the P-12 is described as a “magic carpet” experience: an air-conditioned cabin, wi-fi, entertainment screens, refreshment service, stroller and wheelchair access – and thanks to the hydrofoil system and active flight controller, virtually no waves, no slamming hull, and no seasickness.

It’s like flying, but without any turbulence.

Maldives order and deployment

In 2026, a fleet of ten P-12 vessels will begin operating between Malé International Airport and outer-island resorts, managed by operator Ego Shuttle, which has also signed for an additional ten units.

This will be the Maldives’ first electric vessel deployment, and the largest hydrofoil electric fleet in the world, according to the release. The vessels will be assembled, maintained and operated locally, with a logistics hub and green-job training for Maldivian workers.

“Wake and noise impact has been a real problem in many marine sanctuaries around the world. Until now, there have been no real options to electrify waterborne transport, as conventional hulls are simply too inefficient. With the P-12, we finally have a vessel with the range and speed to replace fossil-fuel boats — while minimizing the impact on this unique environment,” says Shabir Walji, CEO of Ego Shuttle.

The Maldives will now join other countries also incorporating the Candela P-12 electric ferry into their own sustainable over-the-water transportation systems, from Thailand to New Zealand, among several others.

Candela was founded just over a decade ago with a mission to design and build faster, more efficient, cleaner boats that outperform fossil-fuel vessels. 

The company has become world famous for its signature hydrofoils that lift the hull out of the water, dramatically reducing drag and thereby energy use. I’ve spent some helm time on both the C-7 and C-8, the pair of electric hydrofoil speedboats produced by Candela ahead of their expansion into commercial ferries like the P-12. And as someone who has operated both models, I can attest to how smooth the ride is and how impressive it truly feels to soar over the water.

Candela’s P-12 vessels have already entered service in Stockholm. One of its early pilots, a vessel called Nova, reportedly cut a 15 km route commuting time to 30 minutes, while using 84% less energy per passenger-kilometre compared to the diesel ferry it replaced. 

Electrek’s Take

This is a serious step forward – both for island-nation sustainability and for electrifying maritime transport. The Maldives face existential threats from climate change and ecosystem degradation, so reducing boat noise, wakes, and emissions is both environmentally urgent and commercially smart (since tourism depends on those healthy reefs).

In spite of the other major social challenges the country still faces – from limited freedoms for women to broader human rights concerns – it’s encouraging to see real progress on the environmental front. Meaningful climate action doesn’t erase those issues, but it does show that even small nations can take bold technological steps toward a cleaner future.

All told: This looks like a win-win for guests, operators and the environment. I’ll be closely watching how the service performs in 2026 – especially how much of a wake/reef benefit is achieved and how the guest experience compares to typical speedboat transfers. And if the Maldivian operators need someone to come report on the new fleet directly from a white, sandy beach, I’ll see if I can clear my schedule.

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Tesla launches ‘Multipass’ in more markets for frictionless third-party charging

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Tesla launches 'Multipass' in more markets for frictionless third-party charging

Tesla has quietly expanded its new MultiPass feature to more regions across Europe, allowing owners to charge at third-party stations directly through their Tesla account — no separate app, card, or registration required.

The feature, which first launched in the Netherlands earlier this year, is now rolling out to additional countries, including Germany and France, according to Tesla’s own support page. The update builds on Tesla’s push to make charging as frictionless as possible — not just at Superchargers, but across an entire network of compatible public chargers.

What is Tesla MultiPass?

Tesla describes MultiPass as a “seamless charging option” that lets drivers find and charge at third-party charging stations using their existing Tesla Account. By partnering with a network aggregator, Tesla now connects to over 1,000 charging networks and thousands of stations across Europe.

In practice, MultiPass aims to make the charging experience at third-party stations as close to a Tesla Supercharger as possible — you can simply tap your Tesla key card or select the stall in your Tesla app at a supported charger, and the cost of the session is automatically billed to your Tesla account. The same payment method used for Supercharging applies, and sessions appear right in your Tesla app’s charging history, unified with your Supercharger activity.

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Tesla’s goal is to reduce the number of sign-ups and third-party accounts you need to charge outside of Tesla’s own network. MultiPass turns the Tesla key card into a universal charging credential.

Tesla owners simply need to activate MultiPass through the Tesla app:

  1. Open the Tesla app and check “Messages” for the MultiPass invitation
  2. Tap Learn More → Next
  3. Follow on-screen steps to activate your key card via NFC

Once activated, you can start charging sessions in two ways:

  • Tap your key card directly on the supported third-party charger
  • Or, start the session in the Tesla app, selecting the stall remotely

Your session appears instantly in the app, complete with cost and time details, just like any Tesla Supercharger session.

Electrek’s Take

Tesla already operates the world’s most reliable and extensive DC fast-charging network. Supercharger is probably the best thing Tesla has ever done.

But outside of the Supercharger footprint, especially in Europe’s dense urban areas, third-party chargers fill critical gaps.

MultiPass eliminates one of the last friction points for Tesla drivers to use these third-party charging stations.

It looks like after a short testing phase in the Netherlands, Tesla is now ready to expand access throughout Europe.

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