During Tesla’s recent third-quarter earnings call, CEO Elon Musk presented a proposal for a $1 trillion compensation package tied to Tesla’s market value. Musk emphasized the concept of having control over a ‘robot army’ as a key driver behind the proposed compensation plan.
Shareholders are set to vote on November 6 on whether to approve Musk receiving up to 12% of Tesla’s stock if the company reaches a target market value of $8.6 trillion. Despite proxy advisers recommending against the proposal, Musk has actively campaigned for shareholder approval, highlighting the potential power and financial gains associated with controlling a vast network of autonomous vehicles.
Readers of TechCrunch Mobility also weighed in on the future of autonomous vehicle technology, with longer-haul delivery emerging as the preferred business model for profitability. Robotaxis, licensing tech to automakers, and last-mile delivery were also considered, showcasing diverse perspectives on the industry’s potential directions.
While the $1 trillion compensation package may seem extraordinary, Musk’s focus on building a ‘robot army’ underscores his strategic vision for Tesla’s future growth and influence in the transportation sector.
Source: TechCrunch