Tesla CEO Elon Musk joined a twitter space today to speak about the recent moves in TSLA stock and defends his recent actions from Tesla investors who have called for him to stop wasting time on Twitter, which he recently purchased.
Today he finally went into a public twitter space to talk about these issues, including with Ross Gerber, the aforementioned investor he has been feuding with.
The main point of contention with Gerber has been regarding the source of TSLA’s recent price drop. Musk contends that Fed interest rates are the primary contributor, both because it drives capital flight from equities and into safer bonds as bond yields go up, and because it suppresses demand for consumer products that are often bought with debt, such as autos (or, perhaps, twitter itself, which Musk took on tens of billions in loans to buy).
Part of the difference could be related to Musk’s recent large sales of Tesla stock, having sold tens of billions over the course of the last year to fund his twitter acquisition (aka disaster, aka dumpster fire). Generally, insider stock sales send a signal to the market that insiders, particularly the CEO, may not have full confidence in the company’s performance, and add negative pressure to a stock price.
Musk’s sales have happened in a high-profile way and for inopportune reasons, as well. Tesla investors don’t seem to see the upside of these stock sales for the future of Tesla, even though Musk says it will help the EV company in the long term.
Today, Musk stated that he wouldn’t sell any more stock:
“I’m not selling any stock for, I dunno, a minimum of 18-24 months. You can count on me, no stock sales until 2025 or something. I need to sell some stock just to make sure there’s still some powder dry to account for a worst-case scenario… I won’t sell stock until probably two years from now. Definitely not next year under any circumstances. Probably not the year after either.”
Tesla CEO Elon Musk, Dec 22, twitter space
However, Musk has said this many times before, and has still sold Tesla stock. Despite routinely saying he would be the last person to sell TSLA stock for the last decade, Musk has sold large chunks of stock several times over the last year. So investors may be glad to hear that he is done selling, but they’ve heard that before.
Musk also stated “I’m somewhat paranoid having gone through two really intense recessions,” suggesting that his companies might want cash on hand to weather what he sees as an upcoming recession, or at least some sort of “macro drama.” Musk said, “if we do have another 2009 situation, the stock price of everything is gonna be lower.”
Given that Twitter is a private company wholly owned by him, and Musk’s wealth is largely concentrated in TSLA stock, we’re not sure what other major methods of fundraising are available to Musk to free up more “dry powder” other than selling more Tesla stock or taking on more debt.
On the contrary, Musk even talked about the possibility of a stock buyback. Despite his concern about a recession, he also stated that the stock price is currently low, and said his vote would be for a buyback. Though this statement was couched in the eventuality that we aren’t in another 2008-2009 recession situation, which Musk believes we might be going into.
While many have made note of Musk’s distractions with twitter, he stated that “there’s not an important Tesla meeting I’ve missed the entire time. I’m not totally missing in action” and asked “is there anything I could have done in the last two months that would have helped with Tesla execution? I literally cant think of anything.” But he also referred to twitter colorfully by stating “if you cross catnip with crack, that’s what twitter is” – which is not exactly the sort of statement a person would make about something they aren’t addicted to.
Another question was asked by Earl Banning, known as 28delayslater on twitter, a longtime investor and fan who referred to how Musk’s recent political statements have taken the shine off of Tesla for him and his family (including his children, one of whom is trans, a group that Musk’s tweets have recently negatively targeted). This is something we’ve seen in data, with Tesla losing popular support due to these divisive statements.
Musk said that he doesn’t hate trans people, and “doesn’t want to be a hater of anyone.” Banning attempted to ask a follow-up, but was cut off.
Electrek’s Take
Well, this was quite the spectacle. It was nice to see Musk back to focusing on Tesla for once, after so much nonsense related to twitter for so long.
But it sort of sounded like he was saying whatever anyone wanted to hear. On the one hand, he thinks there will be a recession, and on the other hand, he thinks Tesla could do buybacks. On the one hand, he wants companies to have dry powder ready, but on the other hand, he absolutely will not sell stock in order to free up cash (as he has stated before, and then still sold stock).
So with this recent history of conflicting statements, it’s hard to take any of them seriously. However, the market seems to have been comforted by Musk’s words, as the stock went up about two and a half percent in after hours trading, mostly after his statement that he won’t sell anymore stock.
But as for our answer to one pointed question he asked on the call: “is there anything I could have done in the last two months that would have helped with Tesla execution?”
Yes, there is something. As Gerber said, Tesla has been flagging lately because it has been running without the focus of its CEO. For Tesla to function correctly, it either needs a focused CEO who can aid it in execution (perhaps by stepping down from Twitter, as Musk promised, then reversed that promise), or at the very least a COO who can take the place of the CEO while the CEO is busy with their “catnip crossed with crack.”
SpaceX has this in COO Gwynne Shotwell, who has executed well for that company. Perhaps Tesla needs someone similar (potentially Tom Zhu, head of Tesla China?).
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Texas-based tuning firm Vigilante 4×4 is known for its wild, high-horsepower Jeep SJ Hemi restomods – but they’re more than just a hot rod shop. To prove it, they’ve developed a bespoke, all-electric skateboard chassis designed to turn the classic Jeep Grand Wagoneer into a modern, desirable electric SUV.
The scope of the Vigilante 4×4 electric chassis project is truly impressive. More than just a Jeep SJ frame with an electric drive train bolted in, the chassis is a completely fresh design that utilizes precise 3D scans of the original SJ Wagoneers, Grand Wagoneers, and J-Trucks to establish hard points, then fitted with low-slung battery packs to give the electric restomods superior weight balance, a lower center of gravity, and objectively improved ride and handling compared to its classic, ICE-powered forefathers.
The result is a purpose-built platform that delivers power to the wheels through a dual-motor system – one mounted in the front, and one at the rear – to provide a permanent, infinitely variable four-wheel drive system that offers both on-road performance and the kind of off-road capability that made the Grand Wagoneer famous in the first place.
Vigilante 4×4 electric Jeep SJ
“This isn’t a replacement for our Vigilante HEMI offerings,” reads the official copy. “It’s a total revisit of the Vigilante platform under electric power.”
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The company emphasizes that its new chassis is still in the prototype stages. As such, there are no specs, there is no pricing, there are no range estimates. Despite it all, the response from Jeep enthusiasts has already been strong. “Keep in mind this is our first prototype,” a spokesperson said. “There’s still a lot of work to be done – but the journey has begun.”
Electrek’s Take
Electric SJ chassis; Vigilante 4×4.
Retro done wrong – think the Dodge Charger Daytona EV or VW ID.Buzz – is a disaster. Always. If that nostalgic tone is just a little bit off, the song doesn’t work. The heartstrings don’t pull. Done right, however, the siren song of nostalgia will have you putting a second mortgage on your house to put a Singer Porsche or ICON Bronco in your garage.
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EQORE, a distributed battery storage startup based in Somerville, Massachusetts, has raised $1.7 million in seed funding to help industrial buildings tackle rising electricity costs. The round was oversubscribed and includes backing from the Massachusetts Clean Energy Center (MassCEC), Henry Ford III of Ford Motor Company, and Jonathan Kraft of The Kraft Group.
The timing couldn’t be more relevant. Data centers are booming, and that demand is slamming an already stressed grid. Big, utility-scale batteries help at the grid level, but they can’t fix the bottlenecks happening on local distribution networks. That’s where onsite storage steps in — storing energy when demand is low and discharging it when demand spikes, which helps stabilize costs for both the grid and the businesses using it.
MassCEC’s head of investments, Susan Stewart, said, “What excites us the most about EQORE’s technology is the dual impact: grid support and customer savings.” She noted that commercial and industrial buildings are ideal hosts for battery storage, but haven’t gotten much attention until now. “EQORE is closing that gap.”
Investor Randolph Mann highlighted what makes the company stand out: “By uniting advanced controls with high‑resolution metering and true end‑to‑end service, EQORE finally makes commercial behind-the-meter storage effortless and financially compelling for businesses.”
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EQORE comes out of MIT’s Sandbox program and delta v accelerator and is currently part of the Harvard Climate Entrepreneurs Circle incubator. CEO and cofounder Valeriia Tyshchenko, a third‑generation engineer from Ukraine and MIT graduate, said the new funding will help the company scale alongside its existing revenue.
With the seed round closed, EQORE plans to grow its team and ramp up battery deployments at energy-intensive manufacturing facilities. The company doesn’t just install batteries; it operates them. Its autonomous software shifts when a facility uses power based on market conditions and utility incentives, reshaping load in real-time without disrupting operations.
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Hyundai took the sheets of its new off-road electric SUV, the Crater Concept, at the LA Auto Show. Here’s our first look at the compact off-roader.
Meet Hyundai’s new off-road SUV, the Crater Concept
We knew it was coming after Hyundai teased the off-road SUV earlier this week, hidden under a drape. Hyundai took the sheets off the Crater Concept at the LA Auto Show on Thursday, giving us our first real look at the rugged off-roader.
Hyundai refers to it as a compact off-road SUV that’s inspired by extreme events. The concept was brought to life at the Hyundai America Technical Center in Irvine, California.
The off-road SUV draws design elements from Hyundai’s Extra Rugged Terrain (XRT) models, such as the IONIQ 5 XRT, Santa Cruz XRT, and the new Pallisade XRT Pro.
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Although it’s a concept, Hyundai said the Crater Concept is a testament to its commitment to designing future XRT vehicles that are more functional, more capable, and more emotional.
The Hyundai Crater off-road SUV Concept (Source: Hyundai)
“CRATER began with a question: ‘What does freedom look like?’ This vehicle stands as our answer,” Hyundai’s global design boss, SangYup Lee said.
The off-road SUV features Hyundai’s new Art of Steel design theme, first showcased on the THREE concept at the Munich Motor Show in September.
The Hyundai Crater Concept (Source: Hyundai)
Hyundai said the design team was guided by one clear goal: To create a rugged and capable vehicle that’s designed to go anywhere. The Crater Concept embodies that vision with added wide skid plates, 33″ off-road tires, limb risers, rocker panels, and a roof platform.
Hyundai designed the interior for “tech-savvy adventure seekers,” with a singular design centered around a high-brow crash pad that stretches across the dashboard.
The Hyundai Crater Concept (Source: Hyundai)
The concept also swaps the traditional infotainment setup for a head-up display that spans the entire front window, which Hyundai said includes a live rearview camera.
Hyundai’s off-roader includes a new Off-Road Controller for front and rear locking differentials, as well as a terrain selector with modes including Sand, Snow, and Mud. Other off-road features include downhill brake control, trailer brake control, a compass, and an altimeter.
Although Hyundai said it was electric, it didn’t reveal any further details about the powertrain. The off-road SUV could be a battery-electric or fuel-cell-electric vehicle.
Like the new Nexo, Hyundai’s hydrogen fuel cell vehicle, the concept features “HTWO” lamps exclusive to its FCEVs.
Earlier this week, the design team at Hyundai Design North America also introduced its new design and ideation studio codenamed “The Sandbox.” The creative design studio is set to serve as a global hub for future XRT vehicles and gear.
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