Institutional Shareholder Services opposes re-election of Tesla chairwoman

Institutional Shareholder Services Inc. (ISS)

Proxy adviser Institutional Shareholder Services Inc (ISS) has urged Tesla Inc shareholders to vote against the re-election of chairwoman Robyn Denholm at the electric automaker’s annual meeting next month. The firm expressed concerns regarding Denholm’s leadership, mentioning consecutive years of high compensation for directors, without a reasonable rationale, and a steep increase in share pledging […]

Volkswagen CEO praises Musk’s SpaceX success to motivate top executives

Elon Musk

Volkswagen CEO Herbert Diess evoked the historic rocket launch by rival electric automaker Tesla’s CEO Elon Musk to motivate top executives at the automaker as they seek to overcome the auto industry’s biggest market decline in decades, people familiar with the matter said. Musk’s Space Exploration Technologies has become the first private company to launch humans into […]

Tesla files lawsuit against California county over plant shutdown

Tesla Inc logo

Tesla remains opposed to Alameda County’s lockdown as it affects its facility Tesla has filed a federal lawsuit Saturday against Alameda County in California challenging its shutdown of the company’s main factory as a part of lockdown implemented for controlling the spread of the coronavirus. The lawsuit seeks to overturn the county’s May 4 health […]

Tesla reportedly halts car production at Chinese plant

Tesla Inc logo

Tesla has halted production this week at its factory near Shanghai, Bloomberg reported.  Factory workers were supposed to get back from a five-day Labor Day break on Wednesday, but were told to increase the holiday and return as soon as Saturday, Bloomberg reported, mentioning unnamed sources.  The company informed Bloomberg that its Shanghai factory is closed due […]

Tesla’s market value falls significantly after controversial tweet by Elon Musk

Elon Musk

A sort of bloodbath has been observed for Tesla stock as billions of dollars were just got wiped off after its CEO Elon Musk tweeted that the automaker’s stock was “too high”. Tesla stock declined over 10 percent and its valuation declined by almost $9 billion after Musk’s tweets in reminiscence of his controversial tweets in August 2018 when […]