The Tesla board raised concerns about Musk’s commitment following a report that the billionaire CEO had worked all night at Twitter’s San Francisco headquarters and was planning to keep working and sleeping at the HQ until the platform was fixed.
Musk, a self-described “nanomanager,” is known to have a tendency to work for long hours in the face of a crisis. In 2018, when Tesla struggled to produce Model 3, Musk worked and slept at Tesla Inc’s California and Nevada factories.
However, Tesla investors are now worried that Musk will focus more on his newly acquired social media company over the world’s most valuable car maker.
A Tesla investor and strong supporter of Musk commented, “I think he’s finally reached a point where he’s really challenging himself. I think they need to find the right person. And quite frankly, they just don’t have that person.”
On the other hand, Musk tweeted on Monday, “I have Tesla covered too,” adding that he was planning to work at Tesla for part of this week.
Tesla Board Chair Defends Musk’s Pay Package
Tesla’s board challenges Musk’s $55 billion 2018 compensation plan due to their concerns over Musk spending “minimal time” in Tesla.
However, Tesla’s head of the board of directors, Robyn Denholm, said on Tuesday’s pay trial that she was more concerned about the result Musk would bring than his commitment and time.
“We didn’t talk about time,” Denholm noted before adding, “He was focused on achieving results, not on any quantum of time he would need to spend.”
Two New Crashes Involving Tesla’s Driver Assistance System
Tesla reported on Tuesday two new crash fatalities involving Model 3 cars that have a connection to advance driver assistance systems (ADAS).
In June 2021, the National Highway Traffic Safety Administration (NHTSA) released an order that required automakers and tech companies to report all crashes that involved ADAS. And on Tuesday, NHTSA used that data as part of their investigation.
“NHTSA has reviewed these crashes and is conducting appropriate follow-up. NHTSA uses many data sources in its enforcement processes.”
Separately, consumer reports also ranked Tesla’s EVs among the least reliable vehicles in the US.
