Tesla is facing pressure from a group of investors
TED
Tesla is under pressure from a group of long-term investors holding over $1.5 billion in shares. These investors have voiced concerns over the company's governance and leadership and human rights issues within its operations and supply chain. They have called for changes in the composition of the Board of Directors, greater focus from CEO Elon Musk, and increased transparency in the company's practices.
Long-term Investors Voice Concerns
In a letter obtained by Teslarati and addressed to Tesla's Board of Directors, the investors expressed their worries about the Board's meager oversight of CEO Elon Musk and other critical aspects of corporate strategy. They believe this lack of oversight exposes the company to substantial legal, operational, and reputational risks, jeopardizing its long-term value. The investors are particularly concerned that Musk's multiple outside commitments, including his roles in SpaceX, The Boring Company, Neuralink, and as owner and CEO of Twitter, Inc., may distract him from addressing the strategic and competitive challenges facing Tesla.
Moreover, investors have pointed out that Tesla's stock has suffered since Musk's involvement in Twitter, with the company losing $582.4 billion in market capitalization within a year. As competition in the EV market intensifies with legacy automakers launching comparable models, they argue that Tesla's shareholders need their CEO to be exclusively focused on resolving the company's issues.
Calls for Changes in Board Composition, CEO Focus, and Increased Transparency
The long-term investors have urged Tesla's Board to announce a plan to ensure that the company has a CEO who dedicates enough time and attention to the company. They propose limiting the CEO's outside commitments or implementing a succession plan. Furthermore, they request an overhaul of the Board's composition, including removing directors with close ties to Musk. The investors believe that the current governance structure, board composition, and director compensation practices contribute to poor oversight and prioritize personal relationships over the needs of Tesla and its shareholders.
Workplace Issues and Human Rights Risks Draw Attention
The investors also highlighted a series of lawsuits, complaints, and allegations involving workplace equity, safety, and human rights violations within Tesla and its supply chain. These issues include racial discrimination, sexual harassment, unsafe working conditions, wage theft, and retaliatory termination. They noted that Tesla workers are bound by mandatory arbitration and non-disclosure agreements, which could potentially obscure the full scope of harassment and discrimination claims raised by employees.
Additionally, the letter pointed out Tesla's sourcing practices that expose the company to significant human rights risks, such as using cobalt from the Democratic Republic of the Congo, where child labor is pervasive, and potential connections to forced labor in China's Xinjiang Uygur Autonomous Region (XUAR). The investors emphasized the growing momentum in the US to enforce import bans on goods produced with forced labor and the increasing public attention on child labor and forced labor in supply chains.
Lastly, the investors call for increased transparency in the company's human capital management practices, workplace conditions, and human rights policies better to assess the company's risks and overall performance.
In light of these concerns, the investors have requested a meeting with the Board by May 25, 2023, to discuss their concerns and proposed remedies. As Tesla faces increased competition and scrutiny, addressing these issues will be crucial to maintaining its position as a leader in the EV market and ensuring the company's long-term success. The outcome of this meeting, and the letter itself, and the Board's response to the investors' demands may significantly impact Tesla's future and its relationship with shareholders.
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We’re eagerly anticipating Tesla’s biggest update of the year — the Holiday update. The update usually arrives in December, typically towards the end of the month. Last year, the rollout was actually earlier, happening in the second week of December.
As part of our ongoing series, we’re sharing our wishlist for features we hope to see in this year’s holiday update. This edition focuses on improvements to Tesla Maps and Autopilot.
User-contributed Map Data
Many users have asked for the integration of more Waze-like features into Tesla’s navigation. Earlier this year, Tesla added Speed Camera locations, traffic lights and stop signs to maps, but users really want it to be a Waze-like experience that lets you contribute data. This includes marking police car locations, accidents, construction, and more. We’re not sure how likely this is to happen. So far, Tesla has relied on the Google API and other vendors to highlight information on the map.
Avoid Highways Option
Users have been asking for an ‘Avoid Highways’ option forever as it’s a standard option in navigation systems nowdays. While the Alternate Routes feature is helpful, it may not always provide a route that avoids the highway.
In June, Elon Musk confirmed that a “Avoid Highways” option would be added to Tesla navigation. We still haven’t seen it arrive, but we’re fairly confident that it will eventually be available in Tesla vehicles, maybe even for the Holiday update. What better way to enjoy a winter wonderland than to drive through some country roads instead of on the highway?
3D Buildings in Maps
Not a Tesla App
3D maps arrived in China earlier this year, and Google began rolling out 3D maps for various apps just last month. Apple already provides a 3D map with beautiful renderings of nearby buildings, and Rivian already features 3D buildings with an Apple-like look, so Tesla is playing catch-up a little bit here.
While 3D map support could be viewed as mostly eye candy, it can sometimes be useful when navigating an unknown area. Since the Intel infotainment processor is already near its limit and has excluded features in the past, such as improved visualizations and High Fidelity Park Assist, this feature could be limited to newer AMD-powered vehicles.
At Tesla’s recent Robotaxi event, we saw custom 3D maps in the vehicle with a specialized interface, so Tesla knows this is an appealing addition.
Detect and Visualize Emergency Vehicles
Greentheonly/X
Tesla already detects emergency vehicles while on Autopilot, however, it doesn’t display them in the visualization any differently than a normal car. Tesla was planning on adding emergency vehicle visualizations as far back as 2021, but they didn’t happen for some reason.
Tesla recently announced that they’re going to step up emergency vehicle detection by not only detecting the vehicles visually but also using audio input as a cue. With FSD v13, which is expected to be released to Tesla employees this month, FSD will detect emergency vehicles using the vehicle’s internal microphone. This should let the vehicle know about emergency vehicles sooner. We’re hoping that on-screen visualization comes along with this update.
If it’s anything like Tesla’s 2021 implementation, Tesla will design emergency lights that could be added to various existing 3D models, such as cars, SUVs, and motorcycles.
FSD Visualizations in Other Regions
This one is long overdue, and we hope it finally arrives. Owners outside of North America have been paying for FSD for years and have almost nothing to show for it. Sure, it includes some features like Summon (with USS vehicles) and, more recently, Autopark, but it doesn’t even include Actually Smart Summon yet.
While Tesla says the FSD is coming to Europe and other markets in Q1/Q2 next year, it’d be a great addition to add FSD visualizations for the time being.
There’s no doubt that Tesla is already detecting objects and vehicles behind the scenes and comparing what the vehicle would do to what the driver does to help improve Autopilot in these markets. For some reason, Tesla has decided to show different visualizations depending on whether you have Autopilot or FSD and whether you live in North America or elsewhere.
Adding FSD visualizations for everyone, regardless of whether they have Basic Autopilot, EAP, or FSD, would be an exciting addition — and it may even increase the subscription rate to FSD.
Expand Basic Autopilot
Tesla’s Basic Autopilot includes Adaptive Cruise Control and Autosteer, but we’d love for Tesla to expand this further to match what other manufacturers are offering.
Right now, Tesla considers Navigate on Autopilot and automatic lane changes part of Enhanced Autopilot. This means that if you’re on Autopilot and want to change lanes, you need to disable AP, change lanes, and re-enable it. Since many regions no longer offer Enhanced Autopilot for purchase, users are forced to put up with this annoyance or pay for FSD, which isn’t offered as a subscription outside of North America.
By creating a clearer distinction between Autopilot (focused on highway driving) and FSD (designed for city driving), Tesla could improve the Autopilot experience for users while encouraging them to upgrade to FSD.
Actually Smart Summon
Actually Smart Summon is still mostly limited to North America, with some small regions such as Taiwan, also receiving it. However, it still requires you to hold the ‘come’ button currently. The next big leap would be to remove this requirement and enable users to summon their vehicles with a single tap. Tesla previously said this was coming in a future improvement to A.S.S.
Ideally, we’d see the reach of Actually Smart Summon expanded to Europe and other regions and improvements of the feature, although we’re much more likely to see the former for the Christmas update.
Cybertruck is also still waiting for Summon, so this could be an additional surprise.
Autoshift for All Cars
While Autoshift isn’t directly tied to Autopilot, it does leverage AI to decide whether to shift into reverse or drive. This feature has now been released on the new Model S, Model X, the new Model 3, and the Cybertruck. However, Musk once said that it would be added to all Tesla vehicles, so we’re hoping that’s still in the works.
There’s certainly no reason why Tesla can’t add it to older vehicles with stalks. For those not familiar with Autoshift, it allows the vehicle to automatically shift into reverse or drive when the driver is ready to start moving. This makes it even easier to get going: You simply get in the car, press the brake pedal, giving the vehicle a chance to shift, and then press the accelerator.
This is our second wishlist of features we’d love to see in Tesla vehicles this holiday season. If you haven’t seen our first wishlist, the Tesla App Edition, be sure to check it out.
While this is a list of the most popular user requests related to Tesla’s navigation and Autopilot features, we’re sure that there are some we missed. Let us know your thoughts and ideas in our forums.
There’s been a spade of Cybertruck announcements that just came up all at once, so let’s see what the polygonal truck is up to in the month of November. We’ve got a variety of topics to cover, starting with some disappointing news about Tesla’s in-house wrapping services, which are being discontinued for the Cybertruck. But don’t worry — there’s plenty of good news to follow.
No More Tesla Wraps
Tesla no longer offers wraps for the Cybertruck as an option for US customers. Tesla began wrapping vehicles earlier this year but stopped offering wraps for the Cybertruck as of November 13th.
This comes after Tesla previously reduced the color options for Cybertruck wraps from seven to five. However, this isn’t too big of an issue—there are plenty of companies that specialize in vehicle wraps.
The reason Tesla stopped offering wrap services for the Cybertruck isn’t clear. Was there not enough demand? Did it take up too much time from technicians who are already stretched thin?
Given the long repair backlogs in the United States, it makes more sense to have service technicians focus on vehicle repairs rather than spending time wrapping cars.
Inventory Foundation Series
The Cybertruck Foundation Series is now available as an inventory vehicle in certain locations in the United States. That means you can pick up a Foundation-series truck with little to no delay.
Only a few trucks are currently in stock, but this will likely expand as Tesla continues to ramp production and begins to offer the non-Foundation Series trucks as inventory vehicles.
These inventory vehicles are only available in the United States. Canadian owners will still need to put down a deposit for a Foundation Series Cybertruck to get it soon.
Crossbars
Tesla has just announced it is offering a new set of crossbars for the Cybertruck. With a load rating of 200 lbs, it’s on par with roof racks for other trucks. These crossbars also come with mounting pads and quick releases. There are also slots for attaching ski racks, bike racks, or even cargo boxes, letting owners expand the truck's storage capacity.
Interestingly, the Foundation Series trucks can install the crossbars over the cabin or the truck bed, while the non-Foundation Series can only mount the crossbars over the truck bed. That isn’t the greatest news - because one of the best uses for these crossbars is protecting the cabin glass when you’ve got items like long wooden planks hanging over the roof of the truck. Maybe we’ll see more on this soon.
The mounting points for the Cybertruck's crossbars.
Not a Tesla App
Update: It turns out that you can, in fact, install the crossbars anywhere on a non-Foundation series vehicle. You’ll just have to pay for an additional roof applique, according to Wes Morril, Lead Engineer of the Cybertruck Program.
Faster Charging
Tesla announced updated versions of the V4 Supercharger, with a more powerful electrical cabinet that can charge the Cybertruck at up to 500kW. That’s an insanely fast speed—nearly 1,300 mi/hr of charging. This will come as part of a future update for the Cybertruck and as V4 Supercharger stations begin to be deployed.
That’ll make the Cybertruck the fastest-charging Tesla - even with its enormous battery.
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