Elon Musk’s Tesla payday, Toyota’s China problem: Autos news roundup
Tesla is going all-in on convincing investors to back CEO Elon Musk’s compensation package, which was most recently valued at about $46 billion.
In addition to a blitz behind the scenes, Tesla is pushing back against criticism from investor groups, digging into retail politics, and offering incentives like factory tours to drive up engagement. Plus, the company is reportedly set to register its “Full Self-Driving” (FSD) technology in China.
But Tesla isn’t the only electric vehicle company in town.
Stellantis CEO Carlos Tavares this week announced plans to sell a $25,000 fully-electric Jeep in the United States “very soon.” And Japanese automakers are making their own advancements in cleaner technology as sales slump — Toyota Motor Co., Subaru Co., and Mazda Motor Co. are all working on new, smaller engines that run on carbon-neutral fuels.
Meanwhile, Faraday Future Intelligence Electric is having a rough year as investors declare it a “meme stock” and scramble its value. Hyundai Motor Co. on Thursday was sued by the U.S. Department of Labor, which has accused it of benefiting from “oppressive child labor” in Alabama.
And Carfax is warning consumers that more than 6 million vehicles in the U.S. are equipped with dangerous Takata airbags, which may burst and shoot out shrapnel. Here’s what else is going on in the auto world this week.
