34 percent depreciation after one year and 6,000 miles
Recap: Although the Cybertruck began missing CEO Elon Musk's stated goals as soon as it launched in late 2023, the odd-looking electric pickup truck sold well out of the gate. However, the vehicle's commercial performance has tanked over the last few months. Musk's political activities have soured public opinion on the company and contributed to declining global sales.
In brief: Tesla has vehemently denied a report by the Wall Street Journal that alleges the EV giant's board contacted recruitment firms to search for a replacement for Elon Musk as CEO. Musk called the article "deliberately false" and an "extremely bad breach of ethics."
It's not the first time someone has made this claim
A hot potato: Tesla is being sued over allegations it alters the odometers of customers' cars. According to the lawsuit, the automaker does this to increase the money it makes on repairs, avoid warranty obligations, and force customers to purchase warranty extensions early.
In a nutshell: Tesla finds itself at the forefront of a heated competition between South Korean semiconductor giants Samsung and SK Hynix. The electric vehicle manufacturer has reportedly reached out to both companies, seeking samples of their upcoming HBM4 memory chips.
The requested $6 billion in lawyers' fee was also denied
What just happened? What's worse than having a multi-billion compensation package denied to you by a judge? Having it denied a second time, despite being overwhelmingly re-approved by Tesla shareholders. That's the situation Elon Musk has found himself in after Delaware judge Kathaleen McCormick upheld her original ruling that called the payment excessive. She also denied a request from lawyers who brought the case to be paid $6 billion.
Big quote: Zeng remarking on Musk's tendency to overpromise on timelines. "Maybe something needs five years," Zeng said. "But he says two years. I definitely asked him why. He told me he wanted to push people."