Musk aims to secure a 25% voting stake in Tesla before pursuing the realization of his artificial intelligence (AI) objectives.

Musk aims to secure a 25% voting stake in Tesla before pursuing the realization of his artificial intelligence (AI) objectives.

Elon Musk, CEO of Tesla and SpaceX, and owner of the social network X (formerly Twitter), expressed on Monday his desire to attain approximately 25% of voting control in his electric vehicle venture. Currently holding around 13% of Tesla, equivalent to roughly 411 million shares out of the company's 3.19 billion outstanding common stock, Musk is seeking a more substantial influence over the company.

Despite having sold a substantial portion of his Tesla shares in 2022 to fund a $44 billion leveraged buyout of Twitter, Musk is now aiming for increased control over Tesla. In a Monday statement, he conveyed, "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."

Musk emphasized his preference to build AI and robotics products outside of Tesla unless he attains the desired level of voting control. He argued that Tesla is not a single startup but rather a collection of ventures, highlighting the contrast between Tesla and other automakers like GM.

This stance contradicts Musk's earlier statements emphasizing Tesla's significance in AI and robotics, with predictions in April 2022 that Tesla's humanoid robot, Optimus, would eventually surpass the value of the car business and full self-driving technology. Despite these prior assertions, Musk's current position underscores his insistence on achieving a higher level of control to lead Tesla's AI and robotics initiatives.

Tesla has yet to provide a response to Musk's latest remarks.

The Cybertruck Foundation Series, boasting a 320-mile estimated range on its all-wheel drive, faced challenges during a 1,340-mile journey, with the driver expressing that the range felt as if it were halved. The duo made 12 stops, averaging just over 110 miles between charges, extending what could have been a 20-hour road trip to 27 hours. Despite taking turns driving through the night, frequent recharging stops were necessary.

The reduced range efficiency was attributed to cooler temperatures in Texas and a penchant for speeding, with reported improvements in range experienced in California's milder climate. Closing the tonneau, the back cover of the truck, was found to enhance the Cybertruck's range.

Tesla has yet to comment on the reported issues. Concerns about the Cybertruck's estimated range were previously raised by Out of Spec Reviews, indicating 254 miles of range in an unofficial highway test, approximately 80% of the estimated range. The driver noted a charging routine from 10-30% up to a 70-80% charge.

Various factors, including tires, weight load, speed, and cold weather conditions, can impact an electric car's range. A 2023 study cited by Bloomberg revealed that electric vehicles could lose about 30% of their range in temperatures below freezing.

Charging the Cybertruck also presented unexpected challenges, with Tesla's Superchargers seemingly not designed with the Cybertruck's larger size in mind. The driver highlighted the need to maneuver carefully to reach the charging cable, sometimes finding it barely long enough to plug into the vehicle.

Despite encountering challenges during the trip, the YouTuber mentioned that the Cybertruck's infotainment system in the front malfunctioned approximately 12 hours into the journey. The screen went black, losing its backlight, but remained responsive to touch. To navigate this issue, the two relied on the Tesla app to control some vehicle features. The infotainment system eventually illuminated again after turning off the truck for several hours upon reaching their destination.

While acknowledging the inconvenience, Wang expressed overall enjoyment of the experience, particularly highlighting the spacious cabin and the vehicle's comfort. He described the Cybertruck as a fantastic truck, commending its interior and build quality as among Tesla's best. This positive experience left him excited about the potential designs of future Tesla vehicles.

 

---------This article is partly excerpted from CNBC.

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