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The judge ruling over Elon Musk’s ~$55 billion CEO pay package, which some Tesla shareholders claimed was obtained without following proper governance rules, has decided to reject Tesla’s attempt to reinstate it with a shareholder vote.

Delaware Supreme Court could be next.

In 2018, Tesla shareholders voted for Elon Musk to get a historic new CEO compensation package that could be worth $55 billion for the executive if Tesla achieved remarkable growth in valuation and profits, which it did.

However, some shareholders argued that Musk unfairly secured this extremely generous compensation plan by misleading shareholders about the fact that the plan was being put together by an independent board and negotiated in good faith.

They filed a complaint in court in Delaware. The case went to trial in 2022, but it took a long time for the judge to give her decision.

Earlier this year, Delaware Chancery Court Chief Judge Kathleen St. J. McCormick sided with the shareholders after testimonies from everyone involved in the pay package negotiations, or lack of negotiations, and a thorough investigation of how it came about.

She determined that Musk was in control of the board during the time it granted him the pay package while the board members who approved the package were also granted historically large compensations, which they ended up partly reimbursing as part of a settlement from a separate lawsuit for excessive compensation.

McCormick found many governance irregularities, including the fact that the board members who supposedly negotiated the package were not independent of Musk, and even his personal lead on the compensation was his own divorce lawyer, who he had recently hired to be general counsel at Tesla.

The judge rescinded the compensation package, which included over $50 billion worth of Tesla stock options that the CEO had yet to exercise. She asked Tesla to go back to the drawing board, renegotiate the pay package in good faith, and present it properly to shareholders.

Instead, Tesla disagreed with the judge’s findings around governance issues and decided to present the same package while including the judge’s decision in the updated proposal and having Tesla’s shareholders vote on it again.

In June, Tesla shareholders voted to reapprove the package, albeit at a lower percentage than the original vote.

Tesla’s legal team believed the vote would “ratify” the compensation package and force the judge to vacate her decision to void the pay package. However, both Tesla’s lawyers and most corporate law scholars agreed that this would require a completely new way to address ratification.

McCormick listened to both sides this August, and we were awaiting her decision by the end of the year.

Today, the judge released her decision and she sided against Tesla’s argument again:

“The large and talented group of defense firms got creative with the ratification argument, but their unprecedented theories go against multiple strains of settled law.”

Beyond the ratification problem, the judge also said that she believes Tesla again misrepresented the situation to shareholders in the statements made around the new vote:

“Even if a stockholder vote could have a ratifying effect, it could not do so here due to multiple, material misstatements in the proxy statement.”

On top of her ruling on the compensation, she also ruled against the lawyers for the shareholders, who were asking for a ridiculous $5 billion in Tesla stock as their legal fee. Instead, she awarded them $345 million.

Tesla is likely to contest the ruling, which could move the case to the Delaware Supreme Court.

Electrek’s Take

As I wrote last summer, Elon Musk’s compensation package case will haunt Tesla for years. Even if you believe Musk deserves this package, Tesla’s approach to reinstating it was boneheaded and didn’t follow the law as I, and seemingly the judge and most Delaware corporate law experts, understand it.

Tesla, and more specifically Elon Musk, it’s hard to differentiate the two lately, which is part of the problem, are showing no intention to address their governance issues.

Let’s be clear: Elon could get paid somewhat easily here. Even as much or close to this amount. However, it needs to do it through the proper governance and respect the process.

Instead, Elon prefers to lie to shareholders and present the situation as politically motivated lawfare. It’s nonsense.

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Elon Musk’s Boring Company has work crew in Nashville walk off job over unpaid bills and safety

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Elon Musk’s Boring Company has work crew in Nashville walk off job over unpaid bills and safety

The Boring Company, Elon Musk’s tunneling startup, is reportedly facing significant issues with its new project in Nashville, Tennessee. A key subcontractor has walked off the job, alleging that the company has failed to pay for work completed on the “Music City Loop,” claiming they have received only 5% of what they are owed.

We have been following The Boring Company’s expansion efforts closely.

After the relative success of the Las Vegas Loop and several projects that failed to materialize, it looked like the company was winding down until a new proposal in Nashville gained some momentum.

However, a new report from the Nashville Banner indicates that the project is hitting a major wall.

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Shane Trucking and Excavating, a local contractor hired to handle preliminary work for the tunnel project, pulled its workers off the site this Monday. William Shane, the owner of the company, told the Banner that The Boring Company has “ghosted” them and failed to pay invoices totaling in the six figures.

According to Shane, the payment terms were initially set for every 15 days, then unilaterally switched to 60 days. Now, he claims it has been over 120 days since they broke ground, and his company has received only a fraction of the payment due.

“We were really skeptical from the beginning, and then since then, things pretty much just went downhill,” Shane said.

The contractor was reportedly responsible for preparing the launch pad for “Prufrock,” The Boring Company’s proprietary tunnel boring machine (TBM). We previously reported on Prufrock’s capabilities, with the company claiming it can dig tunnels significantly faster than conventional machines, supposedly porpoising directly from the surface to avoid digging expensive launch pits.

If the launch pad isn’t finished because the excavator wasn’t paid, Prufrock isn’t digging anywhere.

This isn’t the first time we’ve heard of payment issues involving Musk-led companies. Tesla has been known to not pay its bills, leading to small companies going bankrupt.

As The Boring Company was stiffing Shane on the bills, the company tried to poach workers from its own contractor and lied about it:

“One of their head guys texts two of my welders, offering them a job for $45 an hour from his work phone,” Shane described, noting that the same TBC employee denied sending the texts when confronted with screenshots. “That’s actually a breach of contract.”

On top of the missed payments, Shane alleges serious safety concerns. They made several official complaints to OSHA:

“Where we’re digging, we’re so far down, there should be concrete and different structures like that to hold the slope back from falling on you while you’re working. Where most people use concrete, they currently have — I’m not even kidding — they currently have wood. They had us install wood 2x12s.” 

The Boring Company Vice President David Buss blamed missed payments on “invoicing errors” in a statement to the Banner:

“It does look like we had some invoicing errors on that. It was, you know, unfortunately, too common of a thing, but I assured them that we are going to make sure that invoices are wired tomorrow.”

He also said that he would look into the poaching allegations, but added that he is not aware of any OSHA complaints.

The “Music City Loop” was pitched as a solution to connect downtown Nashville to the airport, a route that is notoriously congested.

The Boring Company claims it can complete the project without public money, but there are some obvious issues with its financing.

Electrek’s Take

I’ve been willing to give them the benefit of the doubt on the “Loop” concept. While it falls short of the original “autonomous pods” vision or the “Hyperloop” speed dreams, the system in Las Vegas does work to move people, even if it is just Teslas in tunnels driven by humans.

There’s just no evidence that it would be more efficient than any other public transit system.

When Musk launched The Boring Company’s first test tunnel in LA, I asked him if he had any simulations showing his “loop” system to be more efficient. He said that they were working on that. That was 7 years ago.

Therefore, while The Boring Company appears to have achieved marginal improvements in tunnel boring, mainly when it comes to smaller tunnels; it has yet to show clear evidence that its Loop system is a better solution than any other public transit system.

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Heybike Mars 3.0 and Ranger 3.0 Pro e-bikes get Black Friday cuts to lows from $1,199, Tesla + Leviton EV chargers, Hiboy EV lows, more

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Heybike Mars 3.0 and Ranger 3.0 Pro e-bikes get Black Friday cuts to lows from ,199, Tesla + Leviton EV chargers, Hiboy EV lows, more

Our Green Deals today are all centered around Black Friday EV savings, led by the first post-launch price cuts on Heybike’s new Mars 3.0 Folding e-bike to its $1,199 low, as well as the equally new Ranger 3.0 Folding e-bike options starting from a $1,399 low. From there, we spotted Tesla’s Universal Wall Connector EV charger retaining a $50 price cut to $600, as well as Leviton’s smart 48A level 2 EV charger at a new low, Hiboy’s Black Friday EV sale with tons of new low prices thanks to the 53% initial discounts and bonus savings codes, and much more waiting for you below. And don’t forget about the hangover deals that are collected together at the bottom of the page, like yesterday’s increased Velotric Black Friday savings with new lows and extra battery bundles starting from $999, the Lectric XPeak 2.0 Off-Road e-bike bundles that are shrinking in stock, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Heybike drops new Mars 3.0 folding e-bike back to its $1,199 low during Black Friday sale for first time since launch

As part of its ongoing Black Friday e-bike sale, and coming right alongside the equally new price cut on the Ranger 3.0 Pro, Heybike is giving us the first official post-launch discount on its Mars 3.0 Folding Fat-Tire e-bike for $1,199 shipped, as well as a FREE Black Friday gift pack. It launched back at the top of August with a $100 discount from its $1,299 full price, which is repeating here for the first time since those initial deals cooled, and while the discount may not be large, you’re certainly getting a lot of upgraded features for such a low price.

Designed for those riders who seek greater thrills, the new Heybike Mars 3.0 e-bike brings along the new Galaxy Perform eDrive System, which pairs a 750W rear hub motor (1,400W peak) with 95nM of torque (and an obvious torque sensor), as well as a removable 624Wh battery. This system allows you to reach 20 or 28 MPH top speeds, determined by your local laws, and provides pedal-assisted support for up to 65 miles on one full charge. Just like the equally new Ranger 3.0 Pro model, you’ll find a new TFT display on this generation that delivers NFC start-up so you can turn it on by simply tapping your device to the display.

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Aside from its continued space-saving, folding frame, you’ll also notice an improved 440-pound payload so heavier riders can get in on the fun or allow smaller riders to haul some serious cargo weight. The lineup of upgraded features includes a hydraulic suspension fork, a rear Horst link suspension, hydraulic disc brakes, 4-inch puncture-protected tires with fenders, a brake-lit taillight with turn signals, a headlight, a horn, a rear cargo rack, a Shimano Altus 8-speed derailleur, and more.

man and woman riding Heybike Ranger 3.0 Pro e-bikes down street

Heybike’s new-gen Ranger 3.0 Pro folding commuter e-bike gets first post-launch cut to $1,399 low for Black Friday

As part of Heybike’s ongoing Black Friday Sale, and coming in right alongside the new Mars 3.0 Folding e-bike price drop, we’re also now seeing the new Ranger 3.0 Pro Folding Fat-Tire e-bike getting a cut to $1,399 shipped and coming with a FREE Black Friday gift pack. This model was released alongside the Mars 3.0 back in August, and has remained at its $1,499 full price since the initial launch deals ended that month. Now, during this Black Friday season, the brand is offering the first post-launch discount we have seen, giving you another chance at $100 savings on an already lower-cost commuter solution at its best price that we have tracked. Of course, if you want an even more premium look, this model has a Limited Miami Sunset colorway option that has been given a price cut to $1,599 shipped, as well as a Black Friday gift pack and a Miami Sunset gift pack for more added goodies.

Like the Mars 3.0 counterpart, the new Heybike Ranger 3.0 Pro e-bike is quite the higher-end solution for folks seeking new commuting options, all while retaining accessible pricing. It’s been upgraded from the popular Ranger S model with the new Galaxy Perform eDrive System, combining a 750W rear hub motor (1,200W peak), 80nM of torque, and a 720Wh battery. This combination provides a max speed of 20/28 MPH (depending on individual state laws), as well as pedal-assisted support (presided over by a torque sensor) for up to 90 miles on one charge, making it quite the handy commuter – plus, there’s the space-saving folding frame when you reach your destination. It boasts a new TFT display that allows you to tap your phone for NFC start-ups, giving you an extra layer of smart security.

Among its upgraded features, you’ll find a hydraulic suspension fork, 4-inch puncture-protected tires with fenders over each, hydraulic disc brakes, a headlight and horn at its front, a taillight with brake lighting and turn signal lighting, an 8-speed Shimano Altus derailleur, and more. And pivoting back to its folding design, this model condenses even smaller than its predecessor to a 41.7-inch by 20.5-inch by 32.7-inch size.

Tesla universal wall connector EV chargers installed at home driveway with two vehicles parked

Tesla’s Universal Wall Connector with dual NACS + J1772 connectors and customizable 48A speeds retains $50 cut to $600

While Amazon’s ongoing Black Friday Week Sale is going strong, we noticed that the official Tesla storefront is retaining the price cut on its Universal Wall Connector at $600 shipped during this holiday season, with it also matching the price at Best Buy. Earlier in the year we saw the price on this model rise to $650, where it’s been keeping until the more recent $50 markdown brought costs lower, giving you some continued holiday shopping relief here. Sadly, we haven’t seen any similar markdowns on its standard wall connector that is keeping to $450 shipped, or its newer Gen 2 Wall Connector models starting from $1,399 shipped.

If you want to learn more about this universal EV charger, be sure to check out our original coverage of this ongoing price cut here.

man riding Hiboy TITAN electric scooter
man using Leviton smart 48A level 2 EV charger to power vehicle

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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The Kia EV4 is delayed, but another EV is still quietly coming to the US

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The Kia EV4 is delayed, but another EV is still quietly coming to the US

The EV4 will sadly not arrive in the US as expected, but Kia said it’s still planning on launching another EV that’s expected to be an even bigger hit.

Kia confirms EV4 delay, says another EV is still US-bound

The EV4, Kia’s first electric sedan, was expected to launch in the US within the next few months, but that will no longer be the case.

Kia has indefinitely delayed the launch of the EV4 in the US due to policy changes under the Trump administration.

The loss of the $7,500 federal EV tax credit and added tariffs on Korean imports have forced Kia, like many others, to adjust their US lineup.

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According to Kia America’s marketing boss, Russel Wager, the EV4 is only a small part of the broader tariff-related impacts the Korean automaker is facing. Wager told Car and Driver on the sidelines of the LA Auto Show that the changes will likely impact other vehicles and prices.

Kia-EV4-US-delay
2026 Kia EV4 US-spec (Source: Kia)

When asked for specifics about why the EV4 is being pushed back, Wager said, “Can you give me the answer of when the tariffs are going to be resolved in Mexico, Canada, and Seoul? If you give me that answer, I’ll be as specific as possible.”

While the EV4 is delayed indefinitely, Wager suggested bringing the EV3 to the US, Kia’s compact SUV, is still part of the plan.

Kia-EV3-US
Kia EV3 (Source: Kia)

The Kia EV3 is already one of the most popular EVs in Europe and the UK’s best-selling retail electric car this year. Given the growing demand for smaller SUVs, the EV3 is expected to be an even bigger hit with US buyers than the EV4.

When it will launch in the US or how much it will cost remains up in the air until Kia gets a better idea of market conditions.

Kia-another-EV-US
The 2026 Kia EV9 (Source: Kia)

Kia’s EV sales plunged after the federal tax credit expired at the end of September. Sales of the EV6 and EV9 fell by 71% and 66% last month compared to October 2024.

According to Wager, the automaker won’t really know what demand looks like until February or March 2026, since the loss of the $7,500 credit likely pulled buyers forward.

Kia-EV3-US
Kia EV3 Air in Frost Blue (Source: Kia UK)

Kia is still ready to launch the EV4 in the US, but that’s only if the tariff situation stabilizes. Earlier this month, the US and South Korea agreed to reduce tariffs on imports from 25% to 15%.

“At that point in time we look at it and say, are we at 25 [percent], are we at 15—and then we can build our business case,” Wager said, adding, “It was originally designed and engineered when the tariffs were zero percent.”

The electric pickup that Kia announced just a few months ago may never make it to the US. Wager pointed to Ford halting F-150 Lightning production and reports that it could be scrapped altogether.

In the meantime, Kia is heavily discounting its current electric vehicles, offering a $10,000 customer cash bonus on every model. Or, you can opt for 0% financing for 72 months plus an extra $2,500 bonus cash. Kia’s sister company, Hyundai, is also offering generous discounts with IONIQ 5 leases starting at just $189 per month.

Interested in a test drive? We can help you get started. You can use our links below to find Kia and
Hyundai models in your area.

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