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Elon Musk

With Tesla’s shareholder meeting still hours away, Tesla CEO Elon Musk shared charts suggesting that shareholders have approved two controversial ballot measures.

With Tesla’s shareholder meeting coming tomorrow, Tesla has been spending the last several weeks campaigning hard to get shareholders to vote. There are multiple shareholder proposals on the ballot, along with votes to reapprove two of Tesla’s board members who have been much criticized for their close ties to Elon Musk – Kimbal Musk, Elon’s brother; and James Murdoch, a friend of Elon and son of Rupert Murdoch, one of the world’s most prominent climate deniers.

The other shareholder proposals are interesting, but everyone’s attention has been on two in particular: whether to reapprove Musk’s previously-voided $55 billion pay package and whether to redomicile the company to Texas from Delaware.

Why this all started

These proposals date back quite some ways, with Tesla shareholders approving a massive compensation package for the CEO in 2018.

However, that package was later voided in the Delaware Court of Chancery, as it was found to be improperly given. The court found that Tesla’s board was not independent enough (the two board members mentioned above were given as examples of non-independent board members), and that Tesla did not properly inform shareholders of the details of the deal.

In the wake of the Delaware Court of Chancery’s decision about his illegal pay package, Musk immediately threatened to move the headquarters to Texas.

Soon after that, the Tesla board (with many of the same members as 2018, though also with some new ones) decided to bring this question of Musk’s pay back to current shareholders (with some of the same shareholders as 2018, but many new ones), along with the question over whether to move the company’s state of incorporation to Texas, rather than Delaware.

Why Delaware, anyway?

Delaware is an extremely popular state for companies to incorporate in – with a majority of US businesses, both large and small, choosing it to incorporate – as it is quite business-friendly with numerous benefits for businesses that incorporate there.

We spoke with Samantha Crispin, a Mergers & Acquisitions lawyer with Baker Botts, this week in advance of the vote, who told us that one of the main draws of Delaware is its many years of established caselaw which means businesses have more predictable outcomes in the case of lawsuits.

However, Crispin said, lately, some other states, primarily Texas and Nevada, have been trying to position themselves as options for businesses to incorporate in, though neither has nearly the history and established processes as Delaware does. Texas wants to establish a set of business-friendly courts, but those courts have not yet been established, which means there is no history of caselaw to draw on.

The campaigning process

For the last several weeks, Tesla has been pushing the vote – even spending ad money to influence shareholders to vote in favor of the pay and redomiciling proposals.

Part of the reason for this is because while the pay package only requires 50% of votes cast to pass, the redomiciling proposal requires 50% of total shares outstanding. So if turnout is low, then there’s no way the latter can pass, even if the former still can.

And the discussion was quite heated – Tesla shared statements from many prominent investors in support of the proposals, though we also saw major pension funds and proxy advisory firms recommending that shareholders vote against.

The deadline to vote remotely was just before midnight, June 12, Central time. It is still possible to vote shares in person tomorrow, physically at the shareholder meeting in Texas, but most of the counting will have been done by then.

Musk leaks results of upcoming vote

So tonight, a couple hours before the deadline, Musk shared what he claimed are the tentative results of the vote on twitter:

Musk states that “both” resolutions are passing, but leaves out multiple other resolutions that are on the ballot – ones about director term length, simple majority voting, anti-harassment and discrimination reporting, collective bargaining, electromagnetic radiation, sustainability metrics, and mineral sourcing.

And while the charts aren’t all that precise, a few interesting trends are notable here.

First, there are significantly fewer votes in favor of the compensation package than the move to Texas. Currently about 2 billion shares voted for the Texas move, which is enough to pass the ~1.6 billion threshold for the vote to succeed (out of ~3.2 billion shares outstanding), but only about 1.35 billion voted for Musk’s pay package.

So Musk himself may be less popular than the knee-jerk Texas move he proposed. Part of that difference is accounted for by Musk’s 411 million shares, which aren’t allowed to vote on his own pay package, but that still leaves a gulf of several hundred million shares. We don’t know the total number of shares that weren’t allowed to vote on this measure, so we can’t really draw a conclusion there.

Second, there is a sharp turn upward on June 12, which suggests that many shares waited until the very last day to vote – and that those last-day voters were much more likely to be in favor of each proposal, as there is no similar last-day upturn of “no” votes.

Third, the total number of shares voted is somewhere on the order of ~2.2 billion, which is still only a ~70% turnout, which is high but not hugely higher than turnout has been in the past (63% is the previous high-water mark). This suggests that all the campaigning for turnout had some, but still relatively little effect at turning out more votes.

But if we assume that campaigning resulted in about a ~10% turnout boost, that’s some 300 million votes, and could have made the difference on either vote (which both seem like they passed by about that margin).

It’s also quite rare for any company to see shareholders vote against a board recommendation. Despite that these measures both passed, they each saw significant resistance, much higher than generally expected from corporate proceedings.

Some of this might change tomorrow with votes cast at the shareholder meeting itself – if many voters waited until the last moment remotely, there might be more who wait until the last moment tomorrow. And it is still possible for shareholders to change their votes up until the shareholder meeting happens, so things could (but are unlikely to) change.

But if these charts are to be believed, each of these proposals has already gathered enough votes to be a “guaranteed win” (the line for the pay package is lower due to the exclusion of Musk’s shares – and seemingly the exclusion of other shares, given the line is ~600 million shares lower than the line for the Texas move).

What’s Next?

You’d think that was the end of the article, but it’s not. Despite this vote finally being (almost) behind us, there are bound to be many legal challenges ahead.

The vote on the pay package can be thought more in an advisory capacity than anything. Tesla says it will appeal the original decision in Delaware, regardless of whether the Texas move passes. It will surely use today’s vote as evidence in that case, stating that shareholders, even when fully informed, are still in favor of the package.

But these proposals may be challenged in the same way as the original proposal was. There are still several members of the Tesla board who are close to Musk, and therefore aren’t particularly “independent” directors, which is thought of as important in corporate ethics. And Tesla did campaign heavily in favor of specific options to the point of spending ad money for it, which seems… sketchy.

And the very tweet we’re talking about in this article might come up in legal cases as well. Musk’s leaking of the vote – which he did both today just before the remote deadline, and a few days ago – is kind of a no-no. Disney did the same for a shareholder vote recently, and the ethics of that were questioned.

The problem is, leaks can influence a vote – and given the number of votes required to make both proposals successful only came in after Musk leaked results, that only gives more credence to the idea that these votes might have been influenced.

And then there’s the matter of the lawyers who won the compensation-voiding case in the first place. After saving the company’s shareholders $55 billion, those lawyers have asked for a $6 billion fee – a relatively low percentage as far as lawyers’ fees go, but many balk at the idea of paying a small group of lawyers so much money (after all, no single person’s effort is worth hundreds of millions of dollars, much less $55 billion… right?).

To say nothing of other possible lawsuits or SEC investigations that might be filed over the actions or statements made in the run-up to this vote.

The fact is, this situation is something we really haven’t seen before. Legal observers aren’t sure where this will go from here, and many in the world of corporate law are interested to see how it turns out.

The one thing everyone knows, though, is that this will drag on for quite some time. So grab your popcorn and buckle up, folks.

Electrek’s Take

Personally, these are both proposals that do not strike me as particularly good governance.

Spending $55 billion on a CEO who has been distracted for years and whose main actions since returning his focus to Tesla have been to fire everyone including important leadership and successful teams, push back an all-important affordable car project and holding Tesla’s AI projects hostage while shifting both resources and staff from Tesla to his private AI company, even as he claims that AI is the future of Tesla.

It doesn’t seem like money well spent, given that that same amount of money could be spent paying six-figure salaries to every last one of the ~14,000 fired employees… for 40 whole years.

I’d certainly prefer the collective effort of all those smart folks to 1/7th of the attention of a guy who has seemed more interested in advocating for the policies of a climate denying political party (that recently got expelled from the anti-immigrant EU party for being too racist even for them) than he has in running his largest company.

As for the other proposal, moving to Texas is a question worth considering, but it’s just too premature given the long history of caselaw in Delaware. This is not the case with Texas, which is only just establishing the business courts that it’s trying to lure corporations to redomicile with. Texas says it will be very business-friendly, but we just don’t have any evidence other than statements to that effect.

So these are conversations worth having, but they weren’t had – this decision was made as a knee-jerk reaction by a spurned egomaniac, not after cold calculation of the benefits for the corporation.

But, here’s the rub. Those who have lost confidence in Musk’s ability to lead the company are disproportionately likely to have sold their shares already, especially while watching them slide in value more than 50% from TSLA’s highs (as Musk himself has repeatedly sold huge chunks of shares), and by almost 30% in this year alone.

This means that those who still hold shares would be disproportionately likely to vote in favor of the package, as they’re the ones who still have confidence in Musk despite his recent poor decisionmaking.

Despite to this self-selecting effect, and relatively low “yes” vote share compared to most board-certified proposals, Musk may take this vote as a vote of confidence in his leadership – when the true vote of confidence in his leadership is reflected in the stock slide in recent times, with more people selling than holding.

I think it’s quite clear that Musk’s recent actions, just a few of which were mentioned earlier in this Take, are not beneficial for Tesla’s health in either the long or short term. He’s too distracted with his other companies, with stroking his ego through his misguided twitter acquisition, and with acting as a warrior in any number of culture wars that are at best irrelevant, if not actively harmful, to his largest company’s success. And when the Eye of Sauro… I mean, Musk aims back in the direction of Tesla, he makes wild decisions that do not seem well-considered.

This is not what I would call the behavior of a quality CEO, and while some of us aren’t financially invested in the decisions made by Tesla, all of us in the world are invested in what happens in the EV industry, of which Tesla is an outsized player. It is necessary for the world that we electrify transport rapidly to avoid the worst effects of climate change, and Tesla has been the primary driver of moving the world towards sustainable transport for several years now.

But for some time now, that mission does not seem to be Musk’s primary focus, and that’s bad for EVs broadly, and bad for Tesla specifically.

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Elon Musk hypes Tesla’s 8th gen AI chip, but still hasn’t delivered promised self-driving on 3rd gen

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3 hours ago

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November 3, 2025

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Elon Musk hypes Tesla's 8th gen AI chip, but still hasn't delivered promised self-driving on 3rd gen

Tesla Full Self-driving computer

Elon Musk is now hyping Tesla’s 8th-gen AI chip, but he still hasn’t delivered the promised self-driving for millions of Tesla owners with the 3rd-gen chip, nor with the current 4th-gen chip in production.

Musk, whose compensation package at Tesla is up for a shareholder’s vote this week, has coincidentally been sharing more of what he does at Tesla lately to justify his upt to $1 trillion compensation package.

This weekend, he posted on X an update about Tesla’s AI chip roadmap:

Just finished a long AI5 design review with the Tesla California and Texas chip engineers. It’s going to be great. And AI6 and AI7 will follow in fast succession. AI8 will be out of this world.

Those chips power Tesla’s inference computing in its vehicles, enabling its advanced driver-assistance systems (ADAS) and self-driving capabilities.

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Currently, Tesla is producing AI4, its fourth-generation chip.

However, the automaker has been selling to customers the capability to achieve “Full Self-Driving” unsupervised capacity since its second-generation chip.

When it failed, it retrofitted second-gen cars with a new “HW3” third-generation chip.

In January, Musk admitted that Tesla’s HW3 in-car computer is not powerful enough to support unsupervised self-driving. He said Tesla would once again offer retrofits, but it’s been 10 months, and Tesla hasn’t communicated any concrete plan to make it right with customers.

During Tesla’s earnings call last month, Tesla partially walked back Musk’s previous admission that HW3 won’t support unsupervised self-driving.

CFO Vaibhav Taneja said:

“We’ve not completely given up on hardware 3.”

He didn’t really elaborate on what it means, but Tesla’s VP of self-driving, Ashok Elluswamy, added: 

“Once the v14 release series is fully done, we are planning on working on a v 14 Lite version for hardware 3. Probably expected in Q2 next year.”

V14 is currently available on Tesla vehicles with HW4, but it is still not capable of unsupervised self-driving as Tesla sold and promised to customers.

Electrek’s Take

It’s pretty wild that instead of delivering what it promised and sold to HW3 customers, Tesla now says that you might get a watered-down version of something else that is already available. And that’s going to be 6 months from now.

There’s moving the goal post, and then there’s throwing it away altogether.

Now, the fascinating thing is that Musk is talking about AI5, coming in 2026, then AI6. Now, he is even talking about AI7 and AI8.

We know what happens when Tesla launches a new self-driving computer. It gradually shifts its efforts into bigger models that fit on the new computer, but they don’t on the old one.

At this point, everything points to AI4 going the same way as HW3.

Tesla would have avoided itself a lot of headaches if it would have simply waited to have solved autonomy before selling it to customers.


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The new Lexus RZ is here, but it still costs way more than a Tesla Model Y

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4 hours ago

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November 3, 2025

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The new Lexus RZ is here, but it still costs way more than a Tesla Model Y

New-Lexus-RZ-prices

Lexus upgraded the RZ in about way you could imagine. It can now drive over 300 miles on a single charge, recharge at Tesla Superchargers, and even has a sporty new F-Sport trim. Is it enough?

New 2026 Lexus RZ prices and range by trim

The new and improved Lexus RZ is now on sale in the US. Lexus revealed the refreshed electric SUV earlier this year, featuring more range, faster charging, additional features, and more trim options.

With a new battery system, the 2026 RZ now provides up to 301 miles of driving range, or 35 miles more than the outgoing model.

The new Lexus RZ can also recharge at Tesla Superchargers via its built-in NACS port. It can now charge from 10% to 80% in about 30 minutes using a DC fast charger.

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RZ drivers can use one of the more than 25,000 Tesla Superchargers, as well as other DC fast-charging networks such as IONNA, ChargePoint, and EVgo.

Other new features, such as Plug & Charge and Apple Maps EV Routing via Apple CarPlay, make it much easier to find and use public chargers.

Lexus introduced a new F Sport trim to the 2026 RZ lineup. Packing 402 horsepower from a dual motor powertrain, the 2026 Lexus RZ 550e is the most powerful RZ model yet. It also gains exclusive black F Sport badges on the rear spoiler, front and rear bumpers, and front grille.

The RZ 450e offers an optional performance upgrade that boosts output to 375 hp, good for a 0 to 60 mph sprint in 4.3 seconds. The upgrade costs an extra $1,750 and is available for installation at the dealer.

New-Lexus-RZ-interior
The interior of the 2026 Lexus RZ (Source: Lexus)

Lexus revamped the electric SUV’s interior with a new Dynamic Sky Panorama Glass Roof. The F-Sport trim features a Black Ultrasuede trim with blue stitching and added emblems on the pedals and footrests.

Starting at $47,295, the 2026 Lexus RZ is already $5,000 more than the outgoing model. It’s also over $7,300 more expensive than the Tesla Model Y.

2026 Lexus RZ trim Starting Price
(MSRP*)
RZ 350e $47,295
RZ 350e Premium $49,495
RZ 450e AWD $50,795
RZ 450e Premium AWD $52,995
RZ 450 e Luxury AWD $58,295
RZ 55e F Sport AWD $58,295
2026 Lexus RZ price by trim (*includes $1,295 delivery fee)

The 2026 Tesla Model Y Standard RWD is priced from $39,990 with an EPA-estimated driving range of 321 miles. Even the Premium trim, starting at $44,990, is less expensive.

Which electric SUV are you choosing, the new 2026 Lexus RZ or the Tesla Model Y? Let us know in the comments.

Want to test drive the Lexus RZ or Tesla Model Y to see for yourself? You can use our links below to see what’s available in your area.


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Early Black Friday e-bike sales from Lectric and Heybike with up to $893 savings, EcoFlow 40A level 2 EV charger low, EGO, more

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4 hours ago

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November 3, 2025

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Early Black Friday e-bike sales from Lectric and Heybike with up to 3 savings, EcoFlow 40A level 2 EV charger low, EGO, more


We’re kicking off this week’s Green Deals with an EV-packed edition, led by Lectric’s early Black Friday Sale that is offering up to $893 in FREE bundled gear with e-bikes, like the XPedition 2.0 Cargo e-bikes that are getting some of the biggest packages up to $893 in size, starting from $1,399. That’s not all, as Heybike’s early Black Friday Sale is taking up to $600 off e-bikes with select bundles and FREE gift packs starting from $899 lows. There’s also EcoFlow’s PowerPulse Level 2 40A EV Charger and bundle starting from a $699 low, EGO’s 56V 12-inch cordless snow shovel, and several ongoing exclusive EcoFlow and Jackery power station lows – one of which has even fallen another $100 lower. And don’t forget about the hangover deals from last week that are collected together at the bottom of the page, rounded together in our latest edition of Electrified Weekly.

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.

Lectric e-bikes lined up in early Black Friday promotional image

Lectric’s early Black Friday Sale offers up to $893 bundles with e-bikes starting from $999

The month is kicking off big for folks looking to score a commuting solution from one of America’s favorite e-bike brands. Lectric eBikes has launched its early Black Friday Sale that is seeing up to $893 in savings across the e-bike lineup, including another $500 price cut on the premium ONE commuter and up to 25% discounts on accessories. Leading the group with some of the biggest bundles are Lectric’s XPedition Cargo e-bikes, which can be broken down into three configurations: the starting 13Ah single-battery e-bike with $346 in gear at $1,399 shipped, the 26Ah dual-battery e-bike with $744 in gear at $1,799 shipped, or the 35Ah dual-battery long-range e-bike with $893 in gear at $1,999 shipped. These bundles would normally run you $1,745, $2,543, and $2,892, respectively, but now, you’re getting the largest packages we’ve tracked since this second-generation hauler hit the market one year ago.

The bundles we’re seeing are mostly focused on passenger comfort and safety, with parents and nannies in NYC often using them to shepherd kids around to their daily appointments. The base 13Ah single-battery model is getting a pair of running boards, cushions, a suspension seat post, and an Elite headlight upgrade. The 26Ah dual-battery model is getting those with an orbiter, extra cushion, and two XL pannier bags, while the 35Ah dual-battery model is adding a fast charger that refills the battery in up to 3.5 hours.

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The Lectric XPedition 2.0 e-bikes are popular haulers that have regularly sold out of stock over 2025, as they carry a total 450-pound payload with an extended cargo rack and can carry precious cargo for up to 170 miles. Regardless of your battery configuration, they come with 750W M24 rear hub motors (peaking at 1,310W) that reach up to 20/28 MPH top speeds, depending on your state-specific laws. The 13Ah battery model provides pedal assistance for up to 60 miles, the 26Ah battery model extends that up to 120 miles, and the 35Ah battery model goes the distance for up to 170 miles.

Along with all the free gear you’re getting, these e-bikes also come stocked with dual spring front suspension forks, hydraulic mineral oil disc brakes, headlights and taillights that provide turn signaling and brake activation, a color display, and more.

Lectric early Black Friday XPedition 2.0 e-bike bundles:

Lectric early Black Friday ONE e-bike bundle + price cut:

Lectric early Black Friday XPeak 2.0 e-bike bundles:

Lectric early Black Friday XP Trike2 bundles:

Lectric early Black Friday XP4 e-bike bundles:

Lectric early Black Friday XP Lite 2.0 LR e-bike bundles:

Lectric early Black Friday XPress 750 e-bikes bundle:

electric vehicle in garage charging from EcoFlow PowerPulse Ev charger

You can save up to $2,498 on EcoFlow’s PowerPulse level 2 40A EV charger and bundles starting from a $699 low

EcoFlow is currently offering its PowerPulse Level 2 40A EV Charger at $699 shipped, while bundles are also seeing up to $2,498 discounts. This new charging solution was released back in June with a full $899 price tag, which we’ve been seeing drop down to $699 over the last four months. The deal here is giving you another chance at $200 starting savings on the charging station alone, which can connect to power stations and the brand’s home backup units at the best price we have tracked.

If you want to learn more about this EV charging solution, as well as view the lineup of bundle offers, be sure to check out our original coverage of these deals here.

man riding Heybike e-bike in early Black Friday promotional image

Get up to $600 early Black Friday savings on Heybike e-bikes with FREE gifts and bundled gear starting from $899 lows

Heybike has launched its Early Black Friday e-bike Sale with up to $600 price cuts, limited FREE gifts, and select bundle packages. Leading the group at its lowest price is Heybike’s Mars 2.0 Folding Fat-Tire e-bike that gets a FREE gift for $899 shipped, or you could upgrade to its 1,000W motor configuration for $100 more. It’s coming down off its $1,499 full price during this event, which we’ve been seeing keep between $999 and $1,099 since July, which is when we last saw it fall to this all-time low rate. Now, you can hop on with $600 savings and get a FREE Black Friday gift pack too – all at the best price we have tracked in its history.

If you want to learn more about this e-bike, or browse the entire lineup of deals, be sure to check out our original coverage of this early Black Friday sale here.

EGO's 56V 12-inch cordless snow shovel

Add EGO’s 56V 12-inch cordless snow shovel to your winter arsenal with a 2.5Ah battery at $270

Amazon is offering the EGO Power+ 56V 12-inch Cordless Snow Shovel with 2.5Ah battery at $269.99 shipped. Since late July it’s been keeping at its $359 full price, which we’ve seen taken as low as $264 back in May and June. You’re looking at a 25% markdown here while this deal remains, giving you $89 cut from the tag and landing it amongst the lowest prices we have tracked – just $6 above its low.

If you want to learn more about this snow-clearing solution, be sure to check out our original coverage of this deal here.

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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