Elon Musk has insulted the Securities and Exchange Commission days after settling a fraud lawsuit with the US agency, potentially imperiling a deal that allows him to remain Tesla’s CEO.
Oil’s march towards $100/barrel is coming at just the right the time for car makers investing billions in the switch to electric cars.
Tesla has posted a surge in electric-car deliveries that could prove pivotal to earning an elusive profit and overcoming a series of distracting missteps by CEO Elon Musk.
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An army of Tesla-owning volunteers at the weekend swooped in to help deliver cars to new buyers while Musk cheered on his employees, telling them in e-mails to “ignore all distractions”.
Elon Musk will give up the role of Tesla chairman and pay a $20-million penalty to settle fraud charges brought by the US over his claims about taking the company private.
It is nearly impossible to imagine Tesla without Elon Musk – its chairman, CEO, largest shareholder and public face. But the SEC’s lawsuit on Thursday has raised questions about the executive’s future.
Elon Musk is in jeopardy of losing control over the electric car company he founded, with the Securities and Exchange Commission suing the billionaire for his explosive August tweet about taking Tesla private.
At this year’s Beijing Auto Show, a retired Chinese bureaucrat bent down to run his hands over the hood of a sleek sports coupe billed as the world’s fastest battery-powered car, and he smiled like a proud father.
Since we live in a world that loves to tear down its heroes as eagerly as it supports underdogs, we are only too happy to jump on every Elon Musk misstep as vindication for our doubts. By James Francis.