Tesla Motors Inc – Page 24

Elon Musk’s Distraction Is Just One of Tesla’s Problems

The maker of electric cars faces sharp competition, plummeting shares and production woes while its chief executive is preoccupied with Twitter.

Sales contracts prevent buyers of the company’s electric cars from pursuing class-action suits if something goes wrong.

Corporate governance experts say the electric-car maker’s directors may need to rein in the chief executive, with whom many have personal ties.

Firing people. Talking of bankruptcy. Telling workers to be “hard core.” Mr. Musk has repeatedly used those tactics at many of his companies.

The billionaire chief executive testified about a multibillion-dollar compensation package the electric car company’s board put in place in 2018.

A shareholder is asking the court to void a 2018 compensation package that has paid the chief executive nearly $50 billion.

While sales are still skewed toward affluent buyers, more people are choosing electric vehicles to save money.

Shares of the company slumped as investors worried about increasing competition.

The electric carmaker is growing fast but investors are worried that sales are starting to slow because of higher prices and interest rates.

The automaker’s performance indicates that the global semiconductor shortage is beginning to ease.