TechCrunch Mobility: Elon Musk’s threats worked

In a significant development for Tesla, Elon Musk has been granted a staggering $1 trillion pay package, a move that underlines his desire for enhanced control over the company. This decision, which has garnered widespread media attention, is not just about financial gain; it represents a deeper quest for authority within the automotive giant. Musk has long emphasized the importance of maintaining control at Tesla, even suggesting outlandish scenarios to reinforce his argument. His threats to leave the company if he did not secure this control resonated with shareholders, who could not envision Tesla's future without him at the helm. The financial arrangement is tied to ambitious performance milestones, including a market capitalization goal of $2 trillion. Currently, Tesla's market cap hovers around $1.5 trillion. Musk stands to gain 35.3 million shares for each milestone reached, emphasizing the high stakes involved. Among the goals Musk outlined are delivering 20 million Tesla vehicles and achieving 10 million active subscriptions for Full Self-Driving technology within the next decade. Additionally, he aims for the delivery of 1 million robots and the operation of 1 million robotaxis. During the recent shareholder meeting, Musk not only celebrated this achievement but also made several bold forecasts regarding Tesla's future. He announced that production of the Cybercab is set to commence in April, and hinted at the necessity of constructing a new semiconductor fabrication plant. However, he once again postponed the release of the highly anticipated Roadster 2, now slated for unveiling on April 1, 2026. In the realm of electric aviation, Beta Technologies has successfully launched its IPO, raising $1 billion despite ongoing government shutdowns. The company priced its shares at $34, above expectations, reflecting strong investor interest. On the operational front, Archer Aviation secured $650 million through a stock offering, while Evotrex, a startup focused on hybrid RVs, emerged from stealth mode with $16 million in funding. Meanwhile, Rivian continues to navigate its path, having recently spun off a new venture in industrial AI and robotics named Mind Robotics. In the broader market landscape, Lyft reported a positive third quarter with profits of $46.1 million, a welcome turnaround from the previous year. Rivian's revenue surged by 78% year-over-year, although losses remain a concern. As the electric vehicle industry evolves, Waymo is gearing up to launch its robotaxi services in multiple cities, aiming to significantly increase its operational capacity by the end of 2026. The pace of innovation and competition in this sector remains fierce, with major players vying for leadership amidst rapid technological advancements.