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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The judge rescinded the compensation package, which included over $50 billion worth of Tesla stock options that the CEO had yet to exercise.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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This new solar + storage site will help power the Las Vegas Strip

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This new solar + storage site will help power the Las Vegas Strip

The Escape Solar and Storage project in Lincoln County, Nevada, will send clean power to big resort customers on the Las Vegas Strip. 

Reno-based Estuary Power, Escape’s developer, closed a $340 million financing package for the solar and storage project in late December 2024. 

Escape includes 185 megawatts (MW) of JinkoSolar PV capacity and 400 megawatt-hours (MWh) of Tesla battery storage capacity. 

Escape will supply 115 MW of solar and 400 MWh of battery energy storage to MGM Resorts International, 25 MW to Caesars Entertainment, 20 MW to Wynn Las Vegas, and 25 MW to Overton Power District under long-term agreements.

MGM Resorts International has set a goal to source 100% of its energy from renewables by 2030. Las Vegas resorts are required to comply with Nevada’s Renewable Portfolio Standard (RPS), which aims to increase the percentage of renewable energy to 50% by 2030. However, many resorts have already exceeded the 40% renewable energy requirement set by the state. The Venetian and Sands Expo and Convention Center partnered with NV Energy to procure renewable energy certificates to cover 100% of its electricity use.

Jill Daniel, CEO of majority woman-owned Estuary Power, said, “We look forward to supplying renewable energy to the iconic Las Vegas Strip and to our valued partner Overton Power District. We are thankful for the support of our financing partners in making the Escape project a reality.”    

The project is the first utility-scale solar project to be developed in Lincoln County, just north of Las Vegas, where it will generate nearly $80 million in tax revenue for the county over its life span. It’s currently under construction and will begin operating in 2025.

Las Vegas is second in the US for solar capacity per capita.

Read more: This Florida solar farm is supplying clean energy to 12 cities


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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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Aptera signs LG as battery supplier for its solar electric car

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Aptera signs LG as battery supplier for its solar electric car

Aptera has signed a memorandum of understanding with LG Energy Solutions to supply batteries for its solar EV, which it says will start deliveries later this year.

Aptera is at CES this week, showing off it’s production-intent solar EV. We stopped by the booth for a few pictures, but beyond that, there wasn’t a lot new to announce.

But that changed today, as Aptera has now officially announced that it’s partnering with LG Energy Solutions as the exclusive supplier for battery cells for the Aptera solar EV, and CTNS for battery pack assembly.

Aptera said this partnership accomplishes three goals:

  • Enhance Aptera’s production capacity through a reliable and scalable battery supply chain. 
  • Solidify LG Energy Solution’s market presence as a trusted supplier.   
  • Strengthen CTNS’s reputation as a key manufacturing partner in the U.S. market. 

The agreement runs from 2025 to 2031, with LG supplying 2170-format cylindrical cells for battery modules and packs that will be assembled by CTNS and designed by Aptera.

The agreement covers 4.4GWh of battery capacity supply. Given that the Aptera has a 44kWh, 400-mile battery pack (at least at launch, other options might be available at some point), that’s enough for a total of 100,000 vehicles – quite a lofty goal for a rather small company that is relying on crowdfunding and has not yet shipped a car.

“This partnership represents a significant milestone in bringing our solar electric vehicles to market with the reliability and performance our customers expect. LG Energy Solution and CTNS bring unparalleled expertise, and we’re excited to work together to power the future of sustainable transportation.”

-Chris Anthony, Co-CEO of Aptera Motors

LG is one of the largest EV battery cell manufacturers in the world, and the largest outside China. The largest is CATL, but that company has found itself on a US blacklist.

As part of Aptera’s CES announcements, it reaffirmed that it plans to deliver its first vehicles by the end of this year, showed off the production configuration of its solar panels covering the hood, dash, roof and hatch of the vehicle, and said that it drove the car for 20 miles on a Las Vegas winter day and ended up with more charge than it had when it started. You can read more about Aptera’s CES show presence on our previous coverage here.

Aptera says it has 50,000 reservations for its vehicle, at $100 a pop (or $70, if you use our Aptera referral link). You can reserve an Aptera over at Aptera’s website.


But if you have an EV that *isn’t* covered with solar panels, maybe you can install solar panels on your home’s roof and charge your vehicle through solar anyway. Find a reliable and competitively priced solar installer near you on EnergySage, for free. They have pre-vetted installers competing for your business, ensuring high-quality solutions and 20-30% savings. It’s free, with no sales calls until you choose an installer. Compare personalized solar quotes online and receive guidance from unbiased Energy Advisers. Get started here. – ad*

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Mazda is bringing this $20,000 Chinese EV overseas, but prices will be much higher

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Mazda is bringing this ,000 Chinese EV overseas, but prices will be much higher

The electric Mazda 6 predecessor is headed for Europe this summer. Mazda’s EV starts at around $20,000 in China, but prices are expected to be significantly higher in Europe. Here’s what we know about the Chinese-made EV so far.

When will Mazda launch its $20,000 EV overseas?

Mazda unveiled the EZ-6 at the Beijing Auto Show alongside the Arata SUV last April. The EZ-6 is the all-electric predecessor to the Mazda 6 sedan.

Mazda’s Chinese joint venture, Changan Mazda, has been selling the EZ-6 in China since October. The electric sedan, which starts at just 139,800 yuan, or around $19,200, is already off to a hot sales start.

With nearly 2,500 models sold in November, its first sales month, Changan Mazda said the EZ-6 was among the top three mid-size new energy vehicle (NEV) sedans of joint ventures sold in China. According to Nikkei, Mazda will export the $20,000 EV to Europe starting this summer.

Based on Changan Auto’s hybrid platform, the EX-6 is available in EV and extended-range configurations in China. The all-electric version has a CLTC range of up to 600 km (372 miles).

Mazda-$20,000-EV
Mazda EZ-6 (Source: Changan Mazda)

The electric Mazda EZ-6 is 4,921 mm long, 1,890 mm wide, and 1,485 mm tall with a wheelbase of 2,895 mm, or about the size of a Tesla Model 3 (4,720 mm long, 1,922 mm wide, and 1,441 mm tall with a 2,875 mm wheelbase).

Inside, the EZ-6 has a modern cabin setup with 14.6″ infotainment and 10.1″ driver display screens. It also includes premium features like a 50″ AR head-up display and zero-gravity reclining seats.

Mazda-$20,000-EV-interior
Mazda EZ-6 interior (Source: Changan Mazda)

The imported model will feature improved stability and control for high-speed driving on European roads. Mazda will showcase the updated EZ-6 at the Brussels Motor Show, which kicks off on Friday.

Like many automakers, Mazda is looking to meet the EU’s Zero Emission Vehicle (ZEV) mandates and avoid heavy fines. However, after the EU increased tariffs on Chinese EV imports to as much as 45.3%, Mazda will still have to pay the price.

Mazda-$20,000-EV
Mazda EZ-6 electric sedan (Source: Changan Mazda)

China’s SAIC was hit the hardest with an extra 35.3% duty, while Geely (18.8%) and BYD (17%) were at the lower end. Other cooperating companies are subject to a 20.7% tariff, while non-cooperating automakers will have a duty of 35.3%.

Earlier this week, we learned Mazda will build a new module battery plant in Japan to supply its first dedicated EV. Although no details were revealed about the dedicated EV, Mazda said it will be powered by a new electric vehicle platform. The company aims to launch the new platform in 2027. Stay tuned for more.

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