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Tesla announces Cybertruck recall at the worst possible time for Elon Musk [View all]
April 20, 2024, 2:23 PM EDT
By Ja'han Jones
Tesla, Elon Musk’s tech and car company, is recalling nearly 4,000 Cybertrucks after reports of a faulty accelerator pedal — and the news couldn’t have come at a worse time for Musk.
Tesla decided to issue the recall for all trucks made between November of 2023 and April of 2024 after a viral video posted by a Cybertruck owner warned of issues with the accelerator pedal. . . .
Following the news on Friday, Tesla’s stock dropped for the sixth consecutive day. And the recall came just days after Bloomberg’s billionaire index showed Musk had been supplanted on the list of the world’s richest people by his archrival, Meta CEO Mark Zuckerberg . . .
All of this just as Musk is trying to convince Tesla investors to vote to reapprove the gargantuan, $56 billion pay package. A judge voided the payout in January, finding it unfair to shareholders because the investors who approved it were too cozy with Musk to have acted independently. Frightening recalls and a descending stock price would hardly seem to warrant a $56 billion reward — much less at a company that’s ensnared in a racial discrimination class action lawsuit — but perhaps Tesla's investors feel differently. . . .
By Ja'han Jones
Tesla, Elon Musk’s tech and car company, is recalling nearly 4,000 Cybertrucks after reports of a faulty accelerator pedal — and the news couldn’t have come at a worse time for Musk.
Tesla decided to issue the recall for all trucks made between November of 2023 and April of 2024 after a viral video posted by a Cybertruck owner warned of issues with the accelerator pedal. . . .
Following the news on Friday, Tesla’s stock dropped for the sixth consecutive day. And the recall came just days after Bloomberg’s billionaire index showed Musk had been supplanted on the list of the world’s richest people by his archrival, Meta CEO Mark Zuckerberg . . .
All of this just as Musk is trying to convince Tesla investors to vote to reapprove the gargantuan, $56 billion pay package. A judge voided the payout in January, finding it unfair to shareholders because the investors who approved it were too cozy with Musk to have acted independently. Frightening recalls and a descending stock price would hardly seem to warrant a $56 billion reward — much less at a company that’s ensnared in a racial discrimination class action lawsuit — but perhaps Tesla's investors feel differently. . . .
https://www.msnbc.com/the-reidout/reidout-blog/tesla-recall-elon-musk-rcna148635
