"Today, the company will announce the results of a shareholder vote on CEO Elon Musk's proposed $1 trillion pay package. If approved, the deal would grant Musk unprecedented influence over Tesla, along with the largest corporate payday in history, should he meet a series of ambitious performance targets. In the unlikely event that shareholders reject the package, Musk says he'll leave the company."
"But the vote isn't just about Musk's paycheck. Far more is at stake for Tesla's direction and long-term strategy. Welcome to Critical Materials, your daily round-up of news and events shaping the world of electric cars and technology. Also on our radar today: Lucid Motors has reduced its production forecast for this year despite achieving record deliveries and increased revenue in the third quarter."
A shareholder vote will determine the fate of Elon Musk's proposed $1 trillion compensation package and his future leadership of Tesla. The package ties payouts to aggressive milestones including deploying one million robotaxis, delivering 20 million vehicles over the next decade, and driving Tesla's market capitalization to $8.5 trillion across multiple tranches. Analysts expect the vote to pass, but some shareholders oppose the terms. Additional industry developments include Lucid Motors lowering its production forecast despite record deliveries and revenue, and a former Tesla executive's battery recycling company opening a large U.S. facility to bolster the EV supply chain.
Read at insideevs.com
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