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There finally appears to be some Tesla shareholder momentum to fire Elon Musk from the company after years of concerns being ignored by the board and most shareholders.

However, probably nothing will happen as long as the stock (TSLA) is up.

For years, we have expressed concerns about Elon Musk steering Tesla away from its mission to accelerate the world’s transition to sustainable transport and energy.

It has intensified over the last year when Musk threatened Tesla shareholders to breach his fiduciary duties, fired Tesla’s entire charging team in a kneejerk reaction, dove headfirst into a worrying social media addiction, shared countless misinformation on social media, and financed politicians who have directly attacked Tesla and whose policies go directly against Tesla’s mission.

Most of these would be firable offenses at most companies, but we also reported for years that Tesla has massive governance issues with the board basically being completely under Musk’s control despite him owning just 13% of the company.

This leaves things in the hands of shareholders, who are limited to voting once a year. During Tesla’s shareholders meeting in June 2024, they made it clear that they are still for Musk, with most of them voting in line with what the board (aka him) recommended.

Since the inauguration and Musk’s salutes, the blowback, and his response to the blowback, there seems to be more traction amongst Tesla shareholders to remove.

Currently, the most popular post on the Tesla Investor Club on Reddit, one of the biggest Tesla shareholder communities, is about removing Musk as CEO of Tesla, and there have been a few of these types of posts getting traction over the last few weeks.

The post focused on Tesla’s lack of new models other than the Cybertruck in the last 5 years and the lack of growth in delivery volumes despite the rest of the EV market growing.

It also makes the argument that Musk is not following his own guiding principles when it comes to work dedication:

Assuming a few things…

  1. Musk is good at keeping organizations focused on long term hard to reach goals
  2. Musk is good at managing engineering teams
  3. Taking Musk’s own words as truth: management and engineers co-locating with production and “in person” at the office interactions are net positives.
  4. Taking Musk’s own words as truth: employees not willing to do #3 should move on.

Musk is not doing #3 and thus is no longer performing #1 and #2 at Tesla for the mission. Additionally, with his own logic, he is now in the group of employees that were let go (#4).

This is not a bad argument considering that, in addition to virtually leading six companies and working out of the White House for his new DOGE government department, he was caught literally tweeting about non-Tesla stuff in the middle of Tesla’s earnings call last week.

All that while, he rages against employees who work from home because he believes it is less productive.

While many Tesla shareholders agreed with the post, the main objection was that “the stock is up, why mess with something that works?”

This is indeed a problem for Tesla fans who want to see Musk go. With the board not doing anything, it would come down to shareholders voting the board out and forcing a confidence vote on Musk.

Shareholders are afraid that pushing Musk out would result in him selling his stock and triggering a big correction in Tesla’s stock.

Considering Tesla is currently trading at an insane price-to-earnings ratio of 200 and closer to 400 if you remove ZEV credits and the Bitcoin gain, would that be such a bad thing if it meant realigning with the mission?

Electrek’s Take

Obviously, I don’t think we would see that happen if there were a confidence vote tomorrow. I think the stock would need to come down to reality to motivate shareholders to take action.

Personally, I think being scared of a selloff because of Musk leaving is shortsighted. Tesla’s fundamentals are looking worse by the day, and this quarter should be the worst in years.

If Tesla stock doesn’t crash this quarter, Tesla will likely be trading at a 500+ P/E after reporting Q1 2025 earnings. The last time Tesla traded at these levels, Musk warned Tesla employees that the stock would get crushed “like a soufflé being smashed by a sledgehammer” if it didn’t show profit growth.

A few years later, Tesla is in an even worse situation, considering profits from its main business, automotive, are actually crashing, while profits from self-driving cars and robots are realistically still years away.

It’s true that removing Musk would likely result in a short-term stock crash, but I think it would be good for Tesla long-term.

First, Musk is undoubtedly negatively affecting Tesla’s sales. Removing him would likely give Tesla some breathing room when it comes to demand.

Secondly, Musk has created a huge liability for Tesla by consistently promising self-driving capability on all cars produced since 2016. This needs to be addressed and fixed, and Musk is clearly not the person to do this.

Tesla needs leadership to realign the company with its mission and derisk the self-driving effort. I think there’s room to still aim for Musk’s grand vision for Tesla, but without consistently lying and overpromising.

Call me crazy, but I think the company would fair better with a competent full-time CEO instead of an egomaniac wannabe oligarch who consistently lies to shareholders, engages in resource tunneling with his private competing company, and is deeply lost in one of the worst cases of social media addiction that I’ve ever seen.

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Caterpillar autonomous haul trucks reach one MILLION ton milestone

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Caterpillar autonomous haul trucks reach one MILLION ton milestone

Construction and mining giant Caterpillar has reached a major milestone for its autonomous haulage system (AHS), reaching one million tons (!) of aggregate hauled by the company’s massive self-driving trucks.

The milestone was reached as part of an ongoing collaboration between Cat and Luck Stone’s Bull Run Quarry in Chantilly, Virginia to help demonstrate the worth of Caterpillar’s in-house AHS solution, and goes a long way towards proving to doubters of autonomous technology that AHS has what it takes to safely and dependably operate in a working quarry.

And, crucially, that the AHS Cats can keep an existing quarry running strong, even in the face of continuous labor shortages in the mining and aggregate industries.

Reaching the one million tons hauled autonomously milestone confirms that autonomous haulage can deliver consistent, repeatable performance. It also signals how autonomous solutions will address skilled labor shortages, improve site safety, increase operational efficiency, and upskill quarry employees to run autonomy. 

CATERPILLAR

Since the initial deployment of the autonomous tech stack-equipped Cat 777 haul trucks, the collaboration has focused on validating autonomy along with the people and processes in conditions that are typical in quarry operations but distinct from mining, where the benefits of autonomous operation has seen more significant deployment.

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With the success of the Luck Stone pilot at Bull Run, however, that mining/quarry imbalance may not be the status quo for much longer.

“This milestone is a powerful demonstration of what’s possible when we collaborate with our customers to deliver solutions for their critical needs,” explains Denise Johnson, Caterpillar Group President, Resource Industries. “Reaching one million tons hauled autonomously at Bull Run shows that autonomy isn’t just for mining – it’s scalable, reliable, and ready to transform the aggregates industry. We’re proud to collaborate with Luck Stone to lead that transformation.”

Caterpillar hopes the Bull Run project sets a precedent for the broader aggregates industry, and they continue to explore opportunities to expand autonomy across additional Luck Stone sites and operations.

SOURCE | IMAGES: Caterpillar.


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Zeem set to deploy 19 electric semi trucks on Seattle-Tacoma gateway

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Zeem set to deploy 19 electric semi trucks on Seattle-Tacoma gateway

The Northwest Seaport Alliance has announced the recipients of its inaugural incentive program for zero emission drayage trucks – and they’ve turned to the logistics experts at Zeem to deploy 19 battery electric semi trucks to serve the Seattle-Tacoma gateway.

The Northwest Seaport Alliance incentive program is funded by a $6.2 million grant from the Washington State Department of Transportation (WSDOT), and will see bring 19 zero emission Class 8 semi trucks (like the Kenworth T680, shown) and their associated charging infrastructure to the Puget Sound region.

“We are thankful to the Northwest Seaport Alliance for helping the region adopt electric trucks, and we invite truck operators to experience how well they are matched to the job of hauling drayage,” says Paul Gioupis, CEO of Zeem Solutions. “We have served truck fleets for several years, and our goal is to make it a compelling business decision for fleets, that is both economically and environmentally sustainable.”

19 trucks, hundreds of charging customers


he Northwest Seaport Alliance Announces Inaugural Incentive Program for Zero Emission Drayage
NWSA announcement event, via Zeem.

In a bid to help make electrification an even more compelling option for PNW truck fleets, the new Zeem facility won’t just serve its fleet of 19 electric semi trucks – the project also includes a charging depot that will be able to serve up to 250 electric vehicles per day, with overnight parking capacity for up to 70 vehicles, including heavy-, medium-, and light-duty vehicles.

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Nearly 4,000 short-haul trucks serve the ports of Seattle and Tacoma, traveling to nearby distribution centers and warehouses,” reads the official press release. “… operators will be able to switch to electric trucks and charging without the large amount of upfront capital typically needed for heavy-duty EVs and charging infrastructure.”

The charging site will be located near the new I-5 exit ramp just south of SeaTac Airport, along SR-99 (International Blvd./Pacific Hwy.), convenient for nearby warehouse and distribution centers that see a large volume of truck deliveries.

Electrek’s Take


Drayage trucks are typically heavy-duty Class 8 trucks that work short haul routes from ports to warehouses or loading facilities. They frequently travel back and forth along local roadways, meaning they have a high impact on air quality in a given area. And, depending on who you believe, truck emissions represent about 6% of all seaport-related diesel pollution and about 30% of all seaport-related climate pollution in the Puget Sound region – emissions that disproportionately impact communities living near port operations and along freight corridors.

As such: more electric drayage is more good news.

We had a chance to talk to Zeem CEO, Paul Gioupis, as one of our guests on Quick Charge last summer, and a lot of that discussion is still relevant today. Give it a listen (above), then let us know what you think of all this in the comments.

SOURCE | IMAGES: Zeem Solutions.

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CA senate drops controversial contract-breaking provision of solar law

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CA senate drops controversial contract-breaking provision of solar law

The California Senate dropped a controversial provision of an upcoming solar law which would have broken long-standing solar contracts with California homeowners after significant public backlash over the state’s plans to do so.

For several months now, AB 942 has been working its way through the California legislature, with big changes to the way that California treats contracts for residential solar.

The state has long allowed for “net metering,” the concept that if you sell your excess solar power to the grid, it gives you a credit that you can use to draw from the grid when your solar isn’t producing.

Some 2 million homeowners in California signed contracts with 20-year terms when they purchased their solar systems, figuring that the solar panels would pay off their significant investment over the coming decades by allowing them to sell power to the grid that they generated from their rooftops.

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But this has long been a sticking point for the state’s regulated private utilities. They are in the business of selling power, so they tend to have little interest in buying it from the people they’re supposed to be selling it to.

As a result, utilities have consistently tried to get language watering down net metering contracts inserted into bills considered by the CA legislature, and the most recent one was a bit of a doozy.

The most recent plan was asked for by the CA Public Utilities Commission, in response to an executive order by Gov. Gavin Newsom, was authored by a former utility executive, and used some questionable justifications, claiming that solar customers were responsible for high utility bills by shifting costs from solar customers to non-solar customers. Other analyses show that rooftop solar helped save $1.5 billion for ratepayers.

The most controversial point of AB 942 was that it would break rooftop solar contracts early. At first, it was going to break all existing contracts, then was limited to only break contracts if a homeowner sells their home. The ability to transfer these contracts was key to the buying decision for many homeowners who installed solar, as the ability to generate your own power and lower your electricity bills adds to a home’s value.

This brought anger from several rooftop solar owners and organizations associated with the industry. 100 organizations signed onto an effort to stop blaming consumers who are doing their best to reduce emissions and instead focus on the real causes of higher electricity, which the groups said are associated with high utility spending and profits.

It also resulted in several protests outside CA assemblymembers’ offices, opposing the bill. And California representatives received a high volume of comments opposing the plan to break solar contracts.

But, as of Tuesday, the language which would break rooftop solar contracts has been removed by the CA Senate’s Energy Committee, chaired by Senator Josh Becker, who led the effort. Language which blamed consumers for utility rate-hikes was also removed from the bill, according to the Solar Rights Alliance.

The bill is still not law, it has only moved out of the Energy Committee. But bills that advance through committee in California do not usually meet a significant amount of debate when they come to a floor vote, due to the Democratic supermajority in the state. It seems likely that if this bill advances to a vote, it will pass.

Electrek’s Take

The bill is still not perfect for solar homeowners. It disallows anyone with a yearly electricity bill of under $300 from getting the “California Climate Credit,” which is a refund to state utility customers paid for by California’s carbon fee on polluting industry.

The justification is thin for removing this credit from homeowners who are doing even more for the climate by installing solar… but it turns out that limitation probably won’t affect many customers, because most solar customers will still pay a yearly grid connection tax of around $300/year, and most solar customers still have a small electricity bill anyway at the end of the year.

Now, the question of a grid connection fee is another point of possible contention. This has been referred to as a “tax on the sun” in some jurisdictions, and it does feel like an attempt to nickel-and-dime customers who are contributing to climate reductions and should not be penalized for doing so. However, there is at least some rationality in the concept that they should pay to use infrastructure (but then… isn’t that the point of taxes, to build infrastructure for people to use?).

In short, even if it’s not perfect for every solar homeowner, we can consider this a win, and an example of how, at least with functional governments (unlike the US’ one), the public can and should be able to stop bad laws, or bad portions of laws, with enough public effort.

Now, if only we could apply that to those ridiculous EV fees


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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