Why? Well, he made the deal years ago with outrageous performance targets,
either meet them or don't get paid. He met the targets. Pay him.
Oh, and he has to pay to get those shares. They aren't free. When was the last
time you paid to get paid? And he still has to wait 5 years to cash out.
As for laying off the supercharger team... that saves nearly $1B per year in
people costs. But Elon just said it will invest $500 million in a network
expansion and create thousands of new chargers this year. More chargers,
fewer people, more company money saved.
As for "the EV market is entering a new phase", lets look at some numbers.
The car majors are LOSING over $100,000 PER ELECTRIC CAR OR TRUCK.
Tesla is MAKING about $7000 per car. How do you think the race is going?
Ford is trying to build a CATL battery plant in Michigan but people won't let him.
Tesla is building several battery plants and investing in their own technology.
All of the majors buy "carbon credits" from Tesla amounting to Billions every year.
Tesla Semi pulls the same load and the same distance as deisel but saves an
estimated $80,000 over the lifetime of the truck in fuel costs (forget savings
in maintenance). So buy 2 trucks, get the third one free.
Tesla Model Y is the best selling car (EV or ICE) worldwide. Norway posted 95% of
vehicles sold last month, including non-Teslas, were EVs.
As for the investment required to make EVs, VW and Toyota are the world's largest
debt companies. They have to write off dozens-of-Billions of factory cost as a loss
during EV conversion. Tesla has $20 Billion in cash, not debt.
I'm sure the horse industry thought Henry Ford was stupid, evil, and a threat
to their business.
Why? Well, he made the deal years ago with outrageous performance targets, either meet them or don't get paid. He met the targets. Pay him.
Oh, and he has to pay to get those shares. They aren't free. When was the last time you paid to get paid? And he still has to wait 5 years to cash out.
As for laying off the supercharger team... that saves nearly $1B per year in people costs. But Elon just said it will invest $500 million in a network expansion and create thousands of new chargers this year. More chargers, fewer people, more company money saved.
As for "the EV market is entering a new phase", lets look at some numbers.
The car majors are LOSING over $100,000 PER ELECTRIC CAR OR TRUCK. Tesla is MAKING about $7000 per car. How do you think the race is going?
Ford is trying to build a CATL battery plant in Michigan but people won't let him. Tesla is building several battery plants and investing in their own technology.
All of the majors buy "carbon credits" from Tesla amounting to Billions every year.
Tesla Semi pulls the same load and the same distance as deisel but saves an estimated $80,000 over the lifetime of the truck in fuel costs (forget savings in maintenance). So buy 2 trucks, get the third one free.
Tesla Model Y is the best selling car (EV or ICE) worldwide. Norway posted 95% of vehicles sold last month, including non-Teslas, were EVs.
As for the investment required to make EVs, VW and Toyota are the world's largest debt companies. They have to write off dozens-of-Billions of factory cost as a loss during EV conversion. Tesla has $20 Billion in cash, not debt.
I'm sure the horse industry thought Henry Ford was stupid, evil, and a threat to their business.