Tesla board denies having done the only right thing it has been reported to do in years
Tesla’s Chairwoman of the Board, Robyn Denholm, has denied that a report claiming the board has searched for a new CEO to replace Elon Musk, the only positive move it would have made in years.
Musk also commented on the report.
Yesterday, we shared a Wall Street Journal report that claimed Tesla’s board had considered hiring an executive search firm to potentially replace Musk as CEO, among other things, including pressuring Musk to spend more time at Tesla.
We noted that if the report is accurate, it would be the first time the board has stood up to Musk after years of letting him do as he pleases at Tesla, despite being a minority shareholder.
They have backed his every move, granted him a $55 billion CEO compensation package, and remained silent when he threatened Tesla shareholders that he would not develop AI products at Tesla unless given a larger, more controlling share of the company, or decided to fire Tesla’s entire charging team to make an example out of the head of the team.
Tesla’s then-third-largest individual shareholder, after Musk, Leo KoGuan, told Electrek last year that he couldn’t get his concerns about Musk heard by the board.
Most recently, they have not addressed the protests at Tesla stores and product boycotts, which are attributed to Musk’s involvement in politics, angering a significant portion of the population and Tesla’s consumer base.
As a result, Tesla’s sales are crashing, but the board never ever hinted at considering blaming the company’s top management until the WSJ report.
Now, Tesla issued a statement signed by Chairwoman Robyn Denholm denying the report:
Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company. This is absolutely false (and this was communicated to the media before the report was published). The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.
Musk shared the statement and added this comment:
It is an EXTREMELY BAD BREACH OF ETHICS that the Wall Street Journal would publish a DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial beforehand by the Tesla board of directors!
It’s fair to mention that Tesla, and Musk in particular, have been known to deny reports that turned out to be true.
The WSJ claimed to have reached out to both Musk and Tesla before publishing, and that neither responded.
Electrek’s Take
It’s pretty hilarious that, finally, the board is reported to be doing the right thing, and it rushes to deny it. It’s literally the board’s job to plan for the CEO succession. Musk is splitting his time between 6 different major projects and Tesla deserves a committed CEO.
But: “hey! Woah, no, we are not searching for a new CEO because that would mean we are not Musk’s personal puppets.”
While I did note to take the WSJ report with a grain of salt as the unnamed sources did appear to come from an executive search firm that wasn’t selected, and some Tesla investors, I tend to believe them more than Tesla and Musk here.
They did say that they reached out to both, which they are now denying. This is standard practice and would be surprising if it didn’t happen. What would be less surprising is for Tesla and Musk not to answer since they don’t have a press department.
I wouldn’t be surprised if the board started floating the idea of potentially replacing Musk as leverage against him to commit more time to Tesla.
But the entire thing is ridiculous. Trying to get Musk to spend more time at Tesla is counterintuitive to saving the company.
Let’s be honest, any CEO from any other automaker that finds itself in the situation that I am about to describe would have been fired a long time ago:
- Launched a single new vehicle in 5 years, and it’s a commercial flop
- Rapidly declining sales
- Rapidly declining gross margins
- Massive protests and boycotts of your product due to its CEO’s senseless involvement in politics
- CEO promising full self-driving hardware on millions of vehicles and only admitting 6 years later to be wrong – needing all those vehicles to be retrofitted.
Any one of those is a fireable offense, and yet, Musk is stacking them up while the board cashes hundreds of millions in stock options.
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Last week, we reported that the e-bike world had a new motor claiming to be the lightest and most efficient. Now, we’re already seeing TQ’s new TQHPR40 motor proliferate on more road and gravel e-bikes, including the recently announced E-ASTR from Ridely.
Ridley’s new E‑ASTR brings lightweight electric assistance to its already impressive ASTR gravel platform, powered by the cutting-edge TQ HPR40 mid-drive system. Unlike bulkier e‑bike setups, this system adds just 1.17 kg (2.6 lb) at the crank and a discreet 1.46 kg (3.2 lb) and 290 Wh battery hidden within the downtube, keeping the frame’s silhouette nearly identical to the non-electric version of the same bike. According to BikeRumor, riders looking closely might spot only a slightly fatter downtube, internal cable routing, and a handlebar-end LED indicator, giving visual clues without shouting “electric bike.”
What the E‑ASTR gives up in sheer power from the petite motor, it gains in ride feel. The HPR40 is said to deliver a modest 40 Nm of torque and up to 200W of assist, or enough to smooth out climbs or offer a tailwind on gravel without overpowering the rider. With support cut off at 25 km/h (15.5 mph), pedal responsiveness remains natural and fluid. Combined with the ASTR’s race-inspired geometry, the bike looks to offer sharp handling and comfort suited to the rigors of modern gravel routes.
Ridley is currently offering the E‑ASTR in three spec levels: a value SRAM Apex XPLR AXS build €7,199 (or approximately US $8,500), a mid-range SRAM Rival XPLR AXS 1×13 version for €8,199 (or approximately US $9,700), and a top-tier Shimano GRX 2×12 Di2 model for €8,899 (or approximately US $10,500). Each features high-end drivetrains, integrated cockpit options, carbon wheels, and industry-standard gravel brakes and tires. With its race-ready frame and stealthy, lightweight e‑assistance, the E‑ASTR is positioning itself as a high-performance gravel machine that stays true to its roots, delivering help when needed, without overshadowing the rider.
Ultra-lightweight motors like the TQHPR40 are quietly reshaping the e-bike industry by making electric assistance almost invisible, both in looks and in feel. As systems shrink and integrate more seamlessly into traditional bike frames, they’re opening the door to new categories of performance-oriented e-bikes that preserve the ride dynamics of analog bikes while offering just enough support when it counts.
For riders who value a natural pedaling experience but still want a little help on climbs or longer days, and especially for aging riders who want to maintain their riding habits despite father time taking an impact on joints and muscles, these minimalist systems are proving that you don’t need a bulky battery or a massive motor to get the benefits of going electric. The result is a wave of stealthy, high-performance e-bikes that are less about replacing effort and more about enhancing the ride.
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After a month off trying to wrap our heads around all the chaos surrounding EVs, solar, and everything else in Washington, we’re back with the biggest EV news stories of the day from Tesla, Ford, Volvo, and everyone else on today’s hiatus-busting episode of Quick Charge!
It just gets worse and worse for the Tesla true believers – especially those willing to put their money where Elon’s mouth is! One believer is set to lose nearly $50,000 betting on Tesla’s ability to deliver a Robotaxi service by the end of June (didn’t happen), and the controversial CEO’s most recent spat with President Trump had TSLA down nearly 5% in pre-morning trading.
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Hyundai is getting ready to shake things up. A new electric crossover SUV, likely the Hyundai IONIQ 2, is set to debut in the coming months. It will sit below the Kona Electric as Hyundai expands its entry-level EV lineup.
Is Hyundai launching the IONIQ 2 in 2026?
After launching the Inster late last year, Hyundai is already preparing to introduce a new entry-level EV in Europe.
Xavier Martinet, President and CEO of Hyundai Europe, confirmed that the new EV will be revealed “in the next few months.” It will be built in Europe and scheduled to go on sale in mid-2026.
Hyundai’s new electric crossover is expected to be a twin to the Kia EV2, which will likely arrive just ahead of it next year.
It will be underpinned by the same E-GMP platform, which powers all IONIQ and Kia EV models (EV3, EV4, EV5, EV6, and EV9).
Like the Kia EV3, it will likely be available with either a 58.3 kWh or 81.4 kWh battery pack option. The former provides a WLTP range of 267 miles while the latter is rated with up to 372 miles. All trims are powered by a single electric motor at the front, producing 201 hp and 209 lb-ft of torque.
Although it may share the same underpinnings as the EV2, Hyundai’s new entry-level EV will feature an advanced new software and infotainment system.
According to Autocar, the interior will represent a “step change” in terms of usability and features. The new system enables new functions, such as ambient lighting and sounds that adjust depending on the drive mode.
It’s expected to showcase Hyundai’s powerful new Pleos software and infotainment system. As an end-to-end software platform, Pleos connects everything from the infotainment system (Pleos Connect) to the Vehicle Operating System (OS) and the cloud.
Pleos is set to power Hyundai’s upcoming software-defined vehicles (SDVs) with new features like autonomous driving and real-time data analysis.
As an Android-based system, Pleos Connect features a “smartphone-like UI” with new functions including multi-window viewing and an AI voice assistant.
The new electric crossover is expected to start at around €30,000 ($35,400), or slightly less than the Kia EV3, priced from €35,990 ($42,500). It will sit between the Inster and Kona Electric in Hyundai’s lineup.
Hyundai said that it would launch the first EV with its next-gen infotainment system in Q2 2026. Will it be the IONIQ 2? Hyundai is expected to unveil the new entry-level EV at IAA Mobility in September. Stay tuned for more info. We’ll keep you updated with the latest.
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