The battle over Elon Musk’s Tesla comp package heats up
The battle over Elon Musk’s compensation package is heating up as a big advisory firm is recommending shareholders vote against it, and Musk fans are resorting to scare tactics.
Over the last few weeks, Tesla shareholders have been voting on several new proposals put forward by the board.
The two main proposals that the board is trying to get through are a new vote on Musk’s 2018 CEO compensation package and moving Tesla’s state of incorporation to Texas.
The two are closely related as Tesla’s board and Musk have blamed the fact that they lost a lawsuit invalidating the 2018 compensation package on the fact that the lawsuit happened in Delware, where Tesla is incorporated.
Tesla incorporated in Delaware, like many other American companies, because the states has laws extremely favorable to corporations. However, Musk believes, without any evidence, that the judge’s decision was politically motivated and believes that Tesla would have better luck in Texas.
And Tesla will need better luck because the new shareholder’s vote on the compensation package doesn’t automatically invalidate the judge’s decision to rescind the package and more legal challenges are expected. Tesla’s own lawyers admit it’s basically a poll.
Regardless, Tesla has been pushing hard for shareholders to revote in favor the package and the move to Texas.
As we previously reported, the company’s board launched a website and even started buying ads to push the vote in that direction.
The shareholder battle is starting to heat up. We recently reported on a major pension fund that has announced that it will vote against it and encouraged other shareholders to do the same.
Now Glass Lewis, a major shareholder advisory firm whose clients include a significant part of major institutional investors, announced that they are also recommending to vote against it, which they also did in 2018, and shareholders still approved the move.
On the other hand, Musk’s army of fans are resorting to scare tactics to push the vote in his direction.
We recently reported on Musk’s reiterating his threat to not build AI products at Tesla unless he has 25% control over the company.
It was confirmed today that Musk’s new AI startup, xAI, has raised $6 billion a new series B round at a $24 billion valuation.
Some of his biggest sycophants, like unofficial chief propagandist Omar Qazi, are now pushing the idea that if they don’t decide to give Musk everything he wants, he will go after Tesla’s AI efforts through its newly funded xAI:
This is basically suggesting that shareholders should fold to Musk’s threat.
During the litigation over the compensation package, Musk was directly asked if the package being voted down by shareholders would make him leave Tesla and he said no.
However, things could have changed since, but the CEO is conveniently not commenting on this now – seemingly preferring to let his sycophants spread the fear that he would leave Tesla if they don’t vote for his pay package again.
Electrek’s Take
I have a hard time believing that Elon would leave Tesla if the package doesn’t go through. That would be giving up and that’s not his type. Also, I haven’t seen many Tesla shareholders argue that he shouldn’t get paid.
I think the vast majority of shareholders agree that Elon should get paid, but they want Tesla to address the clear governance issues that led the package to be revoked in the first place and that re now more evident than ever as the board is letting the CEO openly making threats to shareholders.
In my opinion, Tesla needs stronger governance because Elon simply doesn’t have the right temperament to lead a public company. Like Leo Koguan, Tesla’s largest retail investor, said, Elon is running Tesla like a family business.
We are now seeing the repercussions with the threats, the way he fired the entire Supercharger teams to set an example to other execs, and this pay package being rescinded.
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New EVs got a little more expensive in April, and consumers saw fewer deals than before, according to new estimates from Cox Automotive’s Kelley Blue Book.
In April, the average transaction price (ATP) for a new EV climbed to $59,255. That’s up 3.7% from the same time last year, and slightly higher, by 0.2%, than in March. Kelley Blue Book even revised March’s average price downward to $59,132.
Erin Keating, executive analyst at Cox Automotive, noted that “Ever since President Trump announced auto tariffs 47 days ago, the cost of new cars has been steadily climbing.”
At the same time, incentives took another dip. They made up just 11.6% of the average EV transaction price in April, down from 13.9% when they peaked in November 2024. This marks the second month in a row that EV incentives have declined.
Tesla led the way in May, selling more than 45,000 EVs – its best performance of the year so far. Most of those sales came from the updated Model Y, which continues to dominate the US EV market. Tesla’s average transaction price rose in April to $56,120, up both month over month and year over year.
Meanwhile, the Cybertruck, once the top-selling EV priced over $100,000, had an average sales price of $89,247 last month. But sales dropped below 2,000 units for the first time in a year, signaling a potential cool-off for the controversial pickup.
Overall, new EV sales in April were down nearly 6% from March, based on Kelley Blue Book’s early estimates. But year-to-date EV sales in 2025 are still up 5.4% compared to the same period in 2024.
Read more: Tesla Model 3 and Model Y prices rose higher in March as sales fell
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The EV3 is already one of the top-selling EVs in Europe and Korea, but when will Kia bring it to the US? After it was recently spotted testing on US streets, the Kia EV3 could finally make its North American debut soon. Here’s what we know.
When will the Kia EV3 make its North American debut?
Kia’s compact electric SUV was again the top-selling EV in Korea last month. It’s also currently among the best-selling electric cars in Europe.
Kia sold 27,761 EVs in Europe in the first quarter, up 17% from the previous record set in Q3 2023. The EV3 led the surge with 17,878 models sold, or 64% of Kia’s total electric vehicle sales in the region.
In March, the EV3 was also the best-selling retail electric car in the UK, driving Kia’s EVs to a record 21% share of its total sales. With the EV3 rolling out in other global markets, like Australia and New Zealand, when will it finally arrive in the US?
After the Kia EV3 was recently spotted testing on US streets, its North American debut could finally be coming up soon.
The new video from KindelAuto shows the 2026 Kia EV6 GT-Line trim, but with what appears to be the US-spec model. Despite the camo, you can see the EV3 has minor design changes, like added orange side reflectors, which are likely to meet regulations.
Although Kia has yet to confirm it, the EV3 could make its North American debut as early as later this year and launch in early 2026. Prices will be revealed closer to its debut, but the EV3 will likely start at around $35,000 to $40,000.
Kia’s smaller electric SUV starts at around 36,000 euros ($40,000) in Europe and roughly $30,700 in Korea (KRW 42.08 million).
In the meantime, those in North America will see Kia’s first electric sedan, the EV4, arrive next year. Kia confirmed the 2026 EV4 will have a built-in NACS port to access Tesla Superchargers and an estimated driving range of up to 330 miles. Prices are also expected to start at around $35,000 to $40,000.
Source: KindelAuto, TheKoreanCarBlog
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Less than a year after officially launching in the US, the 2025 Audi Q6 e-tron has received its safety rating from the Insurance Institute for Highway Safety (IIHS). According to the German automaker, its compact luxury crossover has been awarded Top Safety Pick+ status—the highest possible rating from the IIHS.
The Q6 e-tron remains the newest edition to Audi’s long-running all-electric segment of sedans, GTs, and SUVs. We first caught wind of it back in March 2024 when Audi teased a shadowy image while promising the Q6 e-tron would “overtake expectations.”
The 2025 Q6 e-tron made its official debut last September. The lineup includes an RWD version that delivers the longest range (321 miles) of any Audi BEV. At that point, the Q6 e-tron had received a five-star safety rating from the Euro NCAP, but until today, we were still awaiting its rating from the IIHS.
Today, Audi confirmed that the 2025 Q6 e-tron is an IIHS Top Safety Pick+ – the best you can get.
Audi Q6 e-tron wins Top Safety Pick+ amidst higher criteria
When announcing the award status from the IIHS, Audi pointed out that the US institute altered its Top Safety Pick+ criteria for 2025 models, making the top-tier award harder to achieve. This included a new focus on rear-passenger safety and a moderate overlap front collision test, which simulates a head-on collision, whereas the test vehicle strikes a vehicle of equal size and weight at 40 mph with 40% of the front widths of those vehicles overlapping.
The compact crossover achieved a “good” (the highest IIHS) rating on all tests, warranting the Top Safety Pick+ status. As such, the IIHS has deemed the Q6 e-tron one of the safest all-electric models on the road.
The 2025 Q6 e-tron starts at $63,800 in the US and is currently available in three trimlines and a Premium quattro powertrain configuration.
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