The rocket maker has been a useful financial tool for Mr. Musk, providing the billionaire with loans and aiding his struggling companies, a Times examination found.
Elon Musk’s electric vehicle company said that it needs to spend big on artificial intelligence and robots. Wall Street is worried about the bill.
The company is investing in robots and self-driving taxis that are not yet generating significant sales.
The megabillionaire was tied to about 90 companies in the state, which he uses for everything from paying nannies to buying land to supporting Donald Trump’s re-election, according to a Times examination.
The company’s chief executive, Elon Musk, said this week that it would stop making the car, an electric pioneer in 2012, as well as the Model X.
The electric vehicle maker’s shares are near record highs as Wall Street focuses on the company’s plans for robots and self-driving cars.
The automaker said that it would buy back stock worth up to $6 billion and that it expected profit to rise this year after it pulled back from electric vehicle production.
The president’s hostility to E.V.s is hurting U.S. automakers.
As the largest maker of electric vehicles in the United States, Tesla suffered more than other carmakers from the elimination of federal incentives.
The political polarization of battery-powered cars may have started when Toyota released its first hybrid model 25 years ago.
Shares of Tesla have hit new highs on optimism about the company’s self-driving taxis. But experts say Tesla is far behind Waymo, which has a big head start.
In the face of shareholders, corporate boards and even judges, Tesla’s chief executive shows what he can get away with.
Shareholders approved a plan to grant Mr. Musk shares worth nearly $1 trillion if he meets ambitious goals, including vastly expanding the company’s stock market valuation.
Economists and psychologists say that compensation may not provide as powerful an incentive as is often assumed.
Economists and psychologists say that compensation may not provide as powerful an incentive as is often assumed.
Mr. Musk’s supporters say he may quit if shareholders don’t approve a trillion-dollar package. Some investors say it’s excessive and would give him too much sway.
Despite a drop in Tesla profit, the billionaire exhorted investors to back his proposed compensation package, or face consequences.
The company sold more cars but made less money on each one because of discounts and low-interest loans.
Drivers will be able to converse with an artificial intelligence assistant while cars largely drive themselves in certain situations, the company said.
The justices on the State Supreme Court heard arguments in a long dispute about whether the Tesla chief executive’s compensation was fair to shareholders.