Elon Musk Seeks Increased Voting Control in Tesla for an Important Reason

Musk talks about arrangements with Tesla

Not a Tesla App

Tesla CEO Elon Musk has opened a can of worms with a four-word post on X. On January 13, he posted, “That would be nice.” The message popped up while Tesla shareholders, fans, critics, and haters discussed the company on the social media platform. Two days later, Musk added more details and context to the discussion.

Background and Context is Important

Unlike mainstream media outlets suggesting Musk went on an unprompted compensation rant, the CEO was merely further explaining himself to shareholders. On the 13th, an X user expressed concerns about Musk's apparent lack of Tesla engagement. Amy (_SFTahoe) highlighted that Musk hasn’t had a new incentive plan since completing his 2018 compensation milestones in 2022. Amy argued for significant goals and rewards for Musk, underscoring that mere share ownership isn't enough motivation and that Musk deserves a plan that matches his contributions and ambitions in AI, automation, and space exploration. That is when Musk chimed in with the four words.

That would be nice

— Elon Musk (@elonmusk) January 14, 2024

Two days later, Musk gave more details about his arrangement with Tesla. He expressed his discomfort with his current level of influence in the company. Musk stated his preference for approximately 25% voting control within Tesla, arguing that this level of influence is substantial but not overwhelming. He mentioned, "I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned." Vanguard controls more than 13% through its institutional and mutual fund holdings.

Share Structure and Compensation

Musk, who owns about 13% of Tesla, said he would consider building products outside Tesla unless he secures the desired voting control. He suggested a dual-class share structure as a potential solution but noted the challenges of implementing such a system post-IPO in Delaware. Musk's posts indicated no ongoing feud with the Tesla board, which he praised, and mentioned the delay in establishing a new compensation plan due to the pending Delaware compensation case.

Musk's focus on AI and robotics is a significant part of Tesla's future direction. He has touted the company's advancements in these areas, including developing the humanoid robot Optimus. Musk believes that AI and robotics are integral to Tesla's value, even more so than its automotive segment.

The Financial and Legal Context

Musk's statements come amidst financial and legal challenges. He sold a significant portion of his Tesla shares in 2022 to finance his acquisition of Twitter, which he renamed X. This sale reduced his stake in Tesla and his voting power. Additionally, Musk is involved in a lawsuit in Delaware over his previous compensation package, which is under scrutiny for its size and the influence Musk had in securing it.

I should note that the Tesla board is great. The reason for no new “compensation plan” is that we are still waiting for a decision in my Delaware compensation case. The trial for that was held in 2022, but a verdict has yet to be made.

I put “compensation plan” in quotes,…

— Elon Musk (@elonmusk) January 15, 2024

As Tesla awaits the decision in the Delaware compensation case, Musk's desire for increased voting control remains a central topic. The outcome of this case could influence the future structure of Tesla's leadership and Musk's role in the company. With the Q4 earnings report approaching, Tesla's strategic direction in AI and robotics and Musk's influence will be scrutiny.

Moving Forward

Musk's efforts to balance his various roles at Tesla, SpaceX, and X continue to be a point of discussion. His leadership style, often characterized by ambitious goals and unconventional approaches, has both been praised and criticized in the public and financial spheres.

Despite focusing on voting control and compensation, Musk's ambition for Tesla goes beyond financial incentives. His vision for Tesla involves significant advancements in AI and robotics, aiming to position the company at the forefront of technological innovation. This perspective aligns with Musk's broader goals of advancing human progress through technology.

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Tesla to Allow Drivers to Display License Plates in Vehicle Visualization

Rendering of what Tesla's license plate feature could look like

Not a Tesla App

Tesla update 2024.38 has started rolling out to several regions and vehicles. Thanks to Tesla hacker Greentheonly, we have a behind-the-scenes look at some new features coming to Teslas.

License Plate Display

According to Greentheonly, it looks like Tesla may soon let you display your actual license plate in the vehicle’s visualization on the screen. In our article, The Most Request Tesla Features, several readers suggested displaying the vehicle’s license plate in the visualization instead of a blank, white plate.

It looks like Tesla will be doing just that, at least in China. Green found references that appear to conclude that you’ll be able to display your vehicle’s plate on screen. This will likely be user input, so you could have it say anything you’d like, and it doesn’t have to be your actual license plate.

For many owners, who may find it difficult to remember their license plate, this could serve a practical purpose in addition to adding to the visualization's realism.

While Green was only able to say it’ll be available in China, we expect this is due to China’s software development team working on it and that it’ll eventually be released worldwide.

We’ve seen several features originally released in China and later applied to everyone. Some of these include the Air Quality Index display, the trip meter that displays traffic along your route, and even the ability to change your vehicle’s color.

While code for this feature was found in update 2024.38, we may not be turned on in China yet. We suspect this feature may be a strong candidate for Tesla’s upcoming holiday update.

FSD Hardware Version Display

As part of the 2024.38 update, Tesla has now made it easy to determine whether your vehicle includes Hardware 3 or Hardware 4. You can now simply navigate to Controls > Software and tap Additional Vehicle Information. In addition to other hardware information about your vehicle, your Autopilot hardware version will now be listed as well.

You can see whether your vehicle has HW2.5, HW3, or AI4. This in-car display is useful, but if you don’t have access to the vehicle, you can always use our guide on how to determine the hardware version of a Tesla.

New Battery Health Test & Service Mode Improvements

Green found some additional things as well. There’s a new and improved Battery Health Test. The new test will show you how your car scores compared to similar vehicles in the Tesla fleet.

In addition, maintenance records can now be permanently stored “in the car.” It doesn’t appear that this feature is activated yet, but it’s likely in active development with some parts leaking out in the 2024.38 update.

Tesla has included various Service Mode improvements and new visualizations in this update.

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Leaked Images of the Tesla Model Y Juniper Refresh

Mr Li on X

It’s been a while since we saw the last batch of leaked images of the Model Y Juniper refresh. That inspiring photo, alongside other images, set the blood of many concept artists on fire. We saw a ton of awesome concepts of Project Juniper, and now there are even more leaked images.

Mr Li on X came across some covered-up Project Juniper vehicles recently and he managed to get various shots of the vehicle.

Juniper Images

This front image reveals what looks like two rows of lights, possibly confirming the front light bar for the Model Y refresh — similar to the one on the Cybercab.

The rear side has a lot of lights on it!

Mr Li on X

The rear side shows a ton of brake lights, but it’s not clear why. While it looks like the Model Y refresh will also feature a rear light bar similar to the Cybertruck, there isn’t strong evidence of that in this photo.

Mr Li on X

There's an obvious set of lights at the bottom, so it looks like the Model Y refresh will be similar to the new Model 3 where the bottom lights can operate as brake lights when the one-piece tail lights and trunk are up.

Mr Li on X

In the last photo, we see that the overall form factor of the refreshed Model Y will remain unchanged, and Tesla is focusing the changes on the front and rear ends of the vehicle, much like the Model 3 refresh. However, in this one shot, we can also see what appears to be red light leaking out of the rear camera cover opening, possibly due to the rear light bar.

The Model Y is not only Tesla’s best-selling vehicle but also the world’s best-selling car in 2023. This year, it’s expected to be the best-selling vehicle in the United States and again in the world, so this refresh will be huge for Tesla.

We expect most of the interior to remain the same as the Model 3 refresh, which saw substantial improvements in quality, noise reduction, and performance. Check out our wishlist of more things we hope to see in the Model Y refresh.

Dominic’s Concept

Dominic's Concept, in all its glory.

@DominicBRNKMN on X

@DominicBRNKMN made another fantastic set of concepts based on these new images. Given he had the most accurate Model 3 Highland concept before the official launch, we’re pretty sure his latest work be close here as well.

@DominicBRNKMN

We’re super excited to see the eventual reveal of Project Juniper, which is expected in the first half of 2025. However, expect to see a few more leaks before production kicks off at Giga Shanghai.

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