Connect with us

Published

on

Tesla (TSLA) has revealed the latest web of transactions between itself, Elon Musk, his multiple companies, and board members.

As a public company, Tesla has to report to its shareholders transactions between the company and its executives, board members, and other companies linked to them.

With a new SEC filing, the company has disclosed those latest transactions for 2024 and up to February 2025.

Here’s a list with my comments:

Advertisement – scroll for more content

SpaceX is party to certain commercial, licensing and support agreements with Tesla. Under these agreements, SpaceX incurred expenses of approximately $2.4 million in 2024 and approximately $0.1 million through February 2025.

Tesla didn’t specifically disclosed what are those “certain commercial, licensing and support agreements”.

However, we do know that Tesla and SpaceX share a material science team and they have shared ERP systems in the past.

Tesla also pays SpaceX for the use of Elon Musk’s jet:

Since April 2016, SpaceX has invoiced Tesla for our use of an aircraft owned and operated by SpaceX at rates determined by Tesla and SpaceX, subject to rules of the Federal Aviation Administration governing such arrangements. Tesla incurred expenses of approximately $0.8 million in 2024 and approximately $0.04 million through February 2025.

These transactions have been reported every year between Tesla and SpaceX.

X is a newer addition to Musk enterprises and the CEO has pushed Tesla to spend on advertising on his privately owned platform.

It only amounted to about $400,000 in Tesla spending on X last year aboud only $10,000 this year:

X is party to certain commercial, consulting and support agreements with Tesla. Under these agreements, Tesla incurred expenses of approximately $0.1 million in 2024. As part of a multi-platform advertising campaign, Tesla also directly or indirectly purchased advertising on X, which totaled approximately $0.4 million in 2024 and approximately $0.01 million through February 2025.

Tesla only started to advertise in 2023, shortly after Musk bought Twitter, a platform that relies on advertising, but it has yet to really ramp up its advertising effort.

Instead, it relies on marketing.

xAI is the latest private Musk company that Tesla’s CEO is pushing to work with Tesla.

Based on Tesla’s new disclosure, xAI paid Tesla almost $200 million in 2024 and almost $37 million in the first two months of 2025:

xAI is party to certain commercial (including those for the purchase of Megapacks), consulting and support agreements with Tesla. Under these agreements, xAI incurred expenses of approximately $198.3 million in 2024 and approximately $36.9 million through February 2025. Approximately $191.0 million during 2024 and $36.8 million through February 2025 was incurred by xAI for its purchase of our Megapack products.

The vast majority of that was xAI buying Tesla Megapacks to power its data centers.

However, there are also a few millions not accounted for.

Musk has admitted to redirecting NVIDIA computers that were supposed to be used for Tesla’s super cluster in Texas to xAI.

Tesla also disclosed paying The Boring Company (TBC), a company privately owned by Musk, over $3 million in 2024 and $800,000 in the first two months of 2025:

TBC is party to commercial agreements with Tesla. Under these agreements, Tesla incurred expenses of approximately $3.6 million in 2024 and approximately $0.8 million through February 2025.

This is likely related to TBC building a tunnel to link the Cybertruck’s end-of-line at Gigafactory Texas to a loading lot.

Tesla also pays a security company owned by Musk to provide security services to the CEO:

We are party to a service agreement with a security company, owned by Elon Musk and organized to provide security services concerning him, including in connection with his duties to and work for Tesla. Tesla incurred expenses of approximately $2.8 million for such security services in 2024 and approximately $0.5 million through February 2025, representing a portion of the total cost of security services concerning Elon Musk.

These costs have greatly increased. In 2023, Tesla paid $2.4 million. It increased to $2.8 million in 2024 and based on Tesla having spent $500,000 in the first two months of the year, it looks like it could increase to $3 million in 2025.

Tesla also disclosed that it sold about $30 million worth of scrap materials for JB Straubel’s Redwood Mateirals to recycle:

JB Straubel is the Chief Executive Officer of Redwood. Tesla is party to an agreement with Redwood to supply certain scrap materials. Under this agreement, Redwood incurred expenses of approximately $30.3 million in 2024 and approximately $0.6 million through February 2025.

Straubel is a Tesla co-founder and long-time CTO. He left in 2019 to build a battery recycling and battery material firm, but he also more recently rejoined Tesla’s board – hence why transactions between his company and Tesla need to be reported.

Finally, Tesla disclosed that it paid $300,000 to Kimbal Musk’s company, Nova Sky Stories, for a drone show:

Kimbal Musk is the Chief Executive Officer of Nova Sky Stories. In 2024, we entered into a commercial agreement with Nova Sky Stories in relation to the production of an aerial show. Under this agreement, Tesla incurred expenses of approximately $0.3 million in 2024.

Kimbal Musk is on Tesla’s board and he is Elon Musk’s brother.

Electrek’s Take

I can admit that there can be interesting synergy between companies. When Musk was just leading Tesla and SpaceX, I had some reservations, but I thought it was feasible and some collaboration, like the material science team, made sense.

However, now that Musk is leading Tesla, SpaceX, X, xAI, The Boring Company, Neuralink, and DOGE, it makes no sense whatsoever. It’s too much.

And the synergy between them is often looking like a stretch. For example, the $3 million tunnel is ridiculous. Tesla should have simply better designed its EOL. The Boring Company had a ton of projects that never amounted to anything and it looks like Musk is keeping them busy with Tesla money.

Tesla sending its NVIDIA computers to xAI is also ridiculous. Musk’s excuse was that Tesla’s data center was not ready to receive them, but then he boasted about xAI being to deploy its own data center in a record time of just 3 weeks.

Why was xAI able to do it in 3 weeks but Tesla couldn’t?

Finally, Tesla giving Elon’s brother $300,000 for a drone show is also highly questionable.

Like Leo KoGuan said, “Tesla is a family business masquerading as a public company.”

If you’re interested in installing solar panels and/or batteries for your home, we recommend using EnergySage. You will be able to get quotes without any hassle and only talk to someone when you are ready to move forward. Within minutes, you can get on the path to producing your own power with solar and battery storage, including with Powerwall.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

IRS gives a little more time for electric car buyers to secure the $7,500 tax credit

Published

on

By

IRS gives a little more time for electric car buyers to secure the ,500 tax credit

The IRS has updated the terms of the phase-out of the federal tax credit for electric vehicles to give buyers a little more time to secure the $7,500 tax credit.

Trump’s ‘Big Beautiful Bill’ set a deadline of September 30th to end the $7,500 tax credit for new electric vehicles and the $4,000 credit for used ones.

It looked clear that buyers needed to take delivery before the end of the day on September 30th in order to get the credit, but the IRS has now updated its website to give some leeway to buyers, dealers, and automakers.

The agency wrote in an update on its website:

Advertisement – scroll for more content

 If a taxpayer acquires a vehicle by having a written binding contract in place and a payment made on or before September 30, 2025, then the taxpayer will be entitled to claim the credit when they place the vehicle in service (namely, when they take possession of the vehicle), even if the vehicle is placed in service after September 30, 2025.

If a buyer has a binding order, not a reservation, and has placed a deposit, they can claim the tax credit once they take delivery, even if it’s after September 30th.

Interestingly, the IRS doesn’t mention a time limit after September 30 to secure the tax credit if you have a deposit on a binding contract.

Electrek’s Take

The last time the tax credit was eliminated, there was at least a planned phase-out period. This time, it looked like it was going to be a clean cut, making it difficult for buyers, dealers, and automakers.

This should make things a little easier.

The end of the tax credit has pulled forward a ton of EV demand into Q3 and it will likely exhaust a lot of automakers’ and dealers’ EV inventory.

They are also all rushing to deliver new orders by September 30th, but now it appears that the tax credit money will still be available for those who lock in their orders by the end of the quarter.

Now, this could also open the door to some shenanigans as automakers could try to convert reservations on upcoming electric vehicles that deliver further down the line, but that would be a risky play.

Any buyers getting into those kind of deals should do it at their own risk.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

This German automaker just became the latest to back off its plans to go all in on EVs

Published

on

By

This German automaker just became the latest to back off its plans to go all in on EVs

Another German automaker is scaling back EV plans will continue offering hybrid and ICE vehicles. The company claims that it’s still the first German brand to offer a fully electrified lineup.

German automaker Opel drops EV commitment plans

Opel is one of the many brands under the Stellantis Group, alongside Jeep, Ram, Peugeot, Citroën, Fiat, and several others.

Although it was one of the many automakers to commit to offering an all-electric lineup, it’s now backing off its promise.

During Stellantis’ EV Day in 2021, Opel announced its intention to transition to all-electric vehicles by 2028, accompanied by a slate of new models. Former CEO Michael Lohscheller, now chief executive at Polestar, said, “As of 2028, Opel will only offer electric cars in our core market Europe.”

Advertisement – scroll for more content

On Monday, the German auto giant abandoned its plans for an all-EV lineup, saying it will continue to focus on its current “multi-energy” strategy.

Opel is the first German auto brand to offer a fully electrified model for every vehicle in its lineup, including electric (EVs), plug-in (PHEVs), and even internal combustion engine (ICE) vehicles.

German-automaker-EV-plans
Opel Corsa Electric (Source: Stellantis)

In response to media reports claiming it has changed its strategy, the company said in a statement, “This does not have to be limited to 2028 if the demand side requires otherwise.”

Although the company will continue to focus on EVs in specific regions, like the UK, France, and Germany, it will also offer other powertrain options based on demand.

German-automaker-EV-plans
Opel Corsa Electric (Source: Stellantis)

Opel, alongside British sister company Vauxhall, is one of the top-selling brands in Europe. In Germany and the UK, Opel and Vauxhall ranked first in the ever-expanding B-hatch segment through the first half of the year.

The German auto giant becomes the latest brand to scale back EV plans or shift to hybrids, following Volvo, Volkswagen, Mercedes-Benz, Audi, BMW, and others.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

New e-trike boasts 960W motor, full-suspension and 500 lb capacity

Published

on

By

New e-trike boasts 960W motor, full-suspension and 500 lb capacity

The electric trike world just got a new heavyweight contender. Puckipuppy’s latest release, the Rottweiler, looks like it was built to haul, climb, and cruise with equal confidence. And with full suspension as well as specs like these, it’s hard not to take notice.

At the heart of the Rottweiler e-trike is a 960W peak motor (750W “nominal”) paired with a torque sensor. That means smooth starts, steady hill climbs, and pedal assistance that feels like it’s working with you instead of for you. Of course, the included throttle allows riders to whip it around without pedaling if they prefer, but the torque sensor will hopefully remind owners that pedaling can be fun and a natural feeling too, especially when you’ve got an extra 960 watts of power helping you out.

The trike tops out at a modest 15 mph (25 km/h), keeping it relatively muted to avoid those high-speed tippy turns that trikes are notorious for. But even with the capped speed, it looks like the Rottweiler has plenty of raw hauling power to keep things fun.

The 48V 15Ah battery has 720 Wh of capacity and the company promises up to 55 miles (88 km) of range on a single charge, depending on how much weight you’re lugging around. And speaking of weight, this thing is no slouch. It’s rated for a payload capacity of 500 pounds (226 kg). That’s more than enough for hauling groceries, pets, or a load of gear down a bike path, all while keeping the SUV parked at home.

Advertisement – scroll for more content

Safety and convenience features also find a spot on the spec sheet. Integrated rear turn signals, hydraulic disc brakes, and even a parking brake make it feel more like a small utility vehicle than just an oversized e-bike. The thumb-operated reverse gear is another rare but welcome addition, letting you back out of a tight spot without doing the awkward trike shuffle. It’s rare to find an e-trike with a good (and easily accessible) reverse function, but it makes a big difference when trying to push the trike backwards on anything more than a tiny incline.

Other nice touches include a big 4.7-inch color LCD display, wild-looking butterfly handlebars for multiple riding positions, dual-beam headlights, a cushioned seat with backrest, and fat 20×4” tires that can roll over just about anything. Between those fat tires and the dual suspension setup, the trike should feel pretty darn comfortable over varied terrain.

I’m fearing how much this thing will weigh, if we ever get a chance to put one on a scale, but at least it’s packed to the brim with features!

Priced at $2,399, the Rottweiler is definitely not in the running for lowest-cost trike. There are plenty of others competing on price. This one looks like it’s trying to offer a lot more power, comfort, and features as a way to win over riders.

Electrek’s Take

While Puckipuppy isn’t quite the first dual suspension e-trike like they claim to be, there are still very few options on the market in this category, so it’s welcome news to see another full-suspension option.

The Rottweiler is interesting to me because it isn’t trying to be your fast-and-loose commuter; it’s clearly designed as a heavy-duty hauler for riders who want e-bike utility with a whole lot more stability. The 15 mph limit will feel slow to some, but for families, older riders, or anyone prioritizing cargo over thrills, this makes a lot of sense. With thoughtful design details like reverse, turn signals, and a 500-pound payload, it seems less like a bike and more like a mini pickup truck on three wheels.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending