Sign In or Create an Account.

By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy

Electric Vehicles

Tesla Is Doomed to Be Interesting

We’ll never know what a Tesla without Elon Musk could have looked like.

Elon Musk getting erased.
Heatmap Illustration/Getty Images

Elon Musk got his money.

At a meeting on Thursday, Tesla shareholders voted to re-approve an enormous pay package for Musk, the CEO, worth $45 billion or more depending on Tesla’s fluctuating stock price. The deal had been struck down in January by a judge in Delaware, where the EV company is (for now) incorporated. Musk spent much of the intervening months campaigning on his social network, X, for the gigantic package to be reinstated.

The vote puts to bed a variety of rumors and threats surrounding the electric car company — including, most seriously, that Musk would neglect Tesla in favor of his other companies if he didn’t get his way and might consider leaving for good, taking his talents for artificial intelligence and autonomous driving elsewhere. With his colossal payday back in place, he appears likely to stay and to push Tesla toward those fields.

It means, for better and for worse, that Tesla the company will remain tethered to the whims of its mercurial chief. While Musk excels at generating hype and driving up Tesla’s stock price (the thing that earned him the enormous payday in question), we may have lost our last chance to see what Tesla would look like if it matured into a normal, steady company that just makes good electric vehicles.

New companies, especially flashy startups out of Silicon Valley, often go through a transition moment when they must decide how to grow up. Sometimes that means moving on from the combustible, blue-sky founder or CEO who helped the company become a hit, but isn’t the right fit for growing into a large company on a solid foundation.

Now would have been Tesla’s time. With the introduction of the Model 3 and especially the Model Y, the EV-maker reached remarkable scale, with the latter becoming the best-selling EV in the United States and the best-selling car in the entire world in 2023. A more conventional business leader might have tried to expand Tesla’s huge lead in the EV market, and double down on the advantage it gained by convincing the other carmakers to adopt its charging standard by re-commiting to the Supercharger team. We might have seen this alternate universe Tesla fill the burgeoning EV space with crossovers of varying size to beat GM and Hyundai/Kia to the punch. We might have seen it commit to the entry-level EV project to grab the next group of Americans who’ll go electric.

Musk, though, built his entire brand on being seen as unconventional. Instead of introducing an electrified pickup truck that resembled everything else on the road, he built the Cybertruck. He laid off the Supercharger team just when things were looking up. Rather than introducing a slightly bigger or smaller version of the Model Y, he bought Twitter, and then tweeted a lot about AI while Tesla sales started to decline.

You take the bad with the good when it comes to Musk. With their ‘yes’ vote on his stock package, the company’s board and shareholders decided the good was worth it — and that by backing the horse that brought them, the company and its stock value could continue on to new heights. In doing so, they hitched their wagons to Musk’s notion that Tesla is decidedly not a car company, but rather a software and AI company that happens to put those things into vehicles. The Tesla in our timeline will live or die with projects such as the fully autonomous robotaxi Musk has promised to reveal in some capacity later this summer.

As many analysts predicted, the shareholders decided they needed Musk. Perhaps even more than he needed Tesla, if his big bluff can be believed. “Tesla is Elon,” as one investor put it. The chairperson of the Tesla board came right out and said that the shareholders needed to approve Musk’s stock deal to keep his attention focused on Tesla rather than SpaceX, X, or his other ventures.

Now, as the company recommits to his path, the question for everybody else is: How badly do we need Tesla?

Very badly is what I would have said just a few years ago. When I bought my Model 3 in 2019, the available competitors weren’t inspiring and the competing fast-charging networks were utterly unreliable. Tesla was responsible for taking EVs mainstream in the United States and it was by far the best hope for those who wanted to see more and more American cars go electric.

Things change in five years, though. The Model Y still rules the roost, but Tesla is losing ground to the good electric offerings that are finally coming from the legacy carmakers. With other EVs already using or soon to be able to use Tesla’s Supercharger network, one major competitive advantage that Musk’s company had in selling electric vehicles is disappearing. Maybe Musk will crack true-self driving. But as far as how important Tesla is to getting the average person into an EV, the answer looks to be: less and less all the time.

Blue

You’re out of free articles.

Subscribe today to experience Heatmap’s expert analysis 
of climate change, clean energy, and sustainability.
To continue reading
Create a free account or sign in to unlock more free articles.
or
Please enter an email address
By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy
Climate Tech

There’s More Than One Way to Build a Wind Turbine

Startups Airloom and Radia looked at the same set of problems and came up with very different solutions.

Possible future wind energy.
Heatmap Illustration/Radia, Airloom, IceWind, Getty Images

You’d be forgiven for assuming that wind energy is a technologically stagnant field. After all, the sleek, three-blade turbine has defined the industry for nearly half a century. But even with over 1,000 gigawatts of wind generating capacity installed worldwide, there’s a group of innovators who still see substantial room for improvement.

The problems are myriad. There are places in the world where the conditions are too windy and too volatile for conventional turbines to handle. Wind farms must be sited near existing transportation networks, accessible to the trucks delivering the massive components, leaving vast areas with fantastic wind resources underdeveloped. Today’s turbines have around 1,500 unique parts, and the infrastructure needed to assemble and stand up a turbine’s multi-hundred-foot tower and blades is expensive— giant cranes don’t come cheap.

Keep reading...Show less
Green
AM Briefing

Georgia on My Mind

On electrolyzers’ decline, Anthropic’s pledge, and Syria’s oil and gas

The Alabama statehouse.
Heatmap Illustration/Getty Images

Current conditions: Warmer air from down south is pushing the cold front in Northeast back up to Canada • Tropical Cyclone Gezani has killed at least 31 in Madagascar • The U.S. Virgin Islands are poised for two days of intense thunderstorms that threaten its grid after a major outage just days ago.

THE TOP FIVE

1. Alabama weighs scrapping utility commission elections after Democratic win in Georgia

Back in November, Democrats swept to victory in Georgia’s Public Service Commission races, ousting two Republican regulators in what one expert called a sign of a “seismic shift” in the body. Now Alabama is considering legislation that would end all future elections for that state’s utility regulator. A GOP-backed bill introduced in the Alabama House Transportation, Utilities, and Infrastructure Committee would end popular voting for the commissioners and instead authorize the governor, the Alabama House speaker, and the Alabama Senate president pro tempore to appoint members of the panel. The bill, according to AL.com, states that the current regulatory approach “was established over 100 years ago and is not the best model for ensuring that Alabamians are best-served and well-positioned for future challenges,” noting that “there are dozens of regulatory bodies and agencies in Alabama and none of them are elected.”

Keep reading...Show less
Red
Electric Vehicles

Why the Electric Toyota Highlander Matters

The maker of the Prius is finally embracing batteries — just as the rest of the industry retreats.

The 2027 Highlander.
Heatmap Illustration/Toyota, Getty Images

Selling an electric version of a widely known car model is no guarantee of success. Just look at the Ford F-150 Lightning, a great electric truck that, thanks to its high sticker price, soon will be no more. But the Toyota Highlander EV, announced Tuesday as a new vehicle for the 2027 model year, certainly has a chance to succeed given America’s love for cavernous SUVs.

Highlander is Toyota’s flagship titan, a three-row SUV with loads of room for seven people. It doesn’t sell in quite the staggering numbers of the two-row RAV4, which became the third-best-selling vehicle of any kind in America last year. Still, the Highlander is so popular as a big family ride that Toyota recently introduced an even bigger version, the Grand Highlander. Now, at last, comes the battery-powered version. (It’s just called Highlander and not “Highlander EV,” by the way. The Highlander nameplate will be electric-only, while gas and hybrid SUVs will fly the Grand Highlander flag.)

Keep reading...Show less
Green