Tesla announces Nov. annual meeting under pressure from shareholders, but may still be skirting law
Billionaire Elon Musk's company said in a regulatory filing on Thursday that the meeting would be held Nov. 6, but that may prove troublesome because it comes nearly three months after it is required to do so under state law in Texas, where the company is incorporated.
The annual meeting, given Tesla's fortunes this year, has the potential to be a raucous event and it is unclear how investors will react to the delay, which is rare for major U.S. corporations.
Tesla shares have plunged 27% this year, largely due to blowback over Musk's affiliation with President Donald Trump, as well as rising competition.
The announcement of the meeting comes a day after a group of more than 20 Tesla shareholders sent a letter to the company's board pressing for an annual meeting after receiving now word of one with the deadline just days away.
Many shareholders have been miffed by Musk's participation in the Trump administration this year, saying he needs to focus on his EV company which is facing extraordinary pressures.
"An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board's approach to executive compensation, and other matters of material importance," the group said in the letter.
The group cited Texas law, which requires companies to schedule annual shareholders meetings within 13 months of the prior annual meeting.
Tesla's last shareholders meeting was on June 13 of last year, where investors voted to restore Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier that year.
Also on Thursday, Musk that the Grok chatbot will be heading to Tesla vehicles.
"Grok is coming to Tesla vehicles very soon. Next week at the latest," Musk said on social media platform X, in response to a post stating that Grok implementation on Teslas wasn't announced on the Grok update livestream on Wednesday.
Grok was developed by Musk's artificial intelligence company xAI and pitched as an alternative to "woke AI" interactions from rival chatbots like Google's Gemini, or OpenAI's ChatGPT.
Yet Grok has had a bumpy ride during its rollout.
On Wednesday xAI announced that it was taking down "inappropriate posts" made by its Grok chatbot, which appeared to include antisemitic comments that praised Adolf Hitler.
Shares of Tesla rose slightly before the opening bell on Thursday.>
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
an hour ago
- India.com
When will satellite internet services launch in India? Mukesh Ambani, Elon Musk, Sunil Mittal set to...; price will be...
(File) Starlink India: Elon Musk-led Satcom giant Starlink, as well as domestic telecom majors, Mukesh Ambani-owned Reliance Jio and Sunil Mittal's Bharti Airtel, have acquired the necessary licenses for operating satellite communication services in India, which is expected to transform the country's digital landscape by providing internet and voice connectivity in remote regions where conventional telecom network struggle to reach. Who will operate satcom services in India? According to media reports, Elon Musk's Starlink, Reliance Jio-SES JV, and Bharti Airtel's Eutelsat OneWeb, have acquired the necessary permits for operating satellite internet services in India even as the Indian government is finalizing terms of spectrum allocation, upon which there is a lack of consensus among service providers. Why the delay in spectrum allocation? The Telecom Regulatory Authority of India (TRAI) had given its recommendations on spectrum allocation in May this year, and it usually takes about 2-3 months for the Department of Telecommunications (DoT) to submit its own after TRAI does, The Economic Times reported, quoted a senior executive of a major satcom firm. As per the satcom executive, DoT recommendations are submitted to the (Digital Communications Commission) DCC for review, and after approval, these are examined by Union Cabinet. Following this process, DoT is tasked with charting the allocation rules, and currently its is expected that the allocation process will start by October this year, he noted. When will satellite internet launch in India? According to officials, it will likely take about a month for satcom providers to launch commercial services after spectrum allocation, which puts launch timeline somewhere around the end of November or early December. 'We are looking at a November-end or December timeframe for the launch of commercial service,' the ET report quoted an executive as saying. the first executive said. On Wednesday, US-based Starlink became the third satcom operator to get approval from space regulator Indian National Space Promotion and Authorisation Centre (IN-SPACe) to launch commercial satcom services in the country after Bharti-backed Eutelsat OneWeb and Reliance Jio-SES JV. Starlink received its Global Mobile Personal Communication by Satellite (GMPCS) permit last month. How much will satellite internet cost in India? While the price of satellite internet have not been formally announced, various reports provide insights into how much Elon Musk's Starlink will cost in India. According to a former top official at Starlink, the service could cost around Rs 1,58,000 for the first year, which will decreased to Rs 1,15,000 in the second year, including 30 percent tax. The difference in the prices between the first and second year is due to the fact that the customer needs to make a one-time purchase of the device needed to use the Starlink service, the first time around, The device costs Rs 37,400, according to reports. Additionally, users must pay an extra Rs 7,425 per month as service fee.
Time of India
an hour ago
- Time of India
Daily Horoscope July 13, 2025: Saturn retrograde marks huge shift on Aries, Gemini and other zodiac signs
Aries (March 21 - April 19) Taurus (April 20 - May 20) Live Events Gemini (May 21 - June 20) Cancer (June 21 - July 22) Leo (July 23 - August 22) Virgo (August 23 - September 22) Libra (September 23 - October 22) Scorpio (October 23 - November 21) Sagittarius (November 22 - December 21) Capricorn (December 22 - January 19) Aquarius (January 20 - February 18) Pisces (February 19 - March 20) FAQs What is Saturn retrograde, and why is it significant? When does Saturn retrograde begin in 2025? (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel A celestial shift is underway as Saturn retrograde commences in Aries this Sunday, setting the tone for significant introspection and transformation across all zodiac signs. Known as the disciplinarian of the skies, Saturn turning retrograde often brings about a sense of slowdown, inviting individuals to review the structures guiding their Aries charges ahead with unrestrained energy, Saturn demands patience, responsibility and reflection. The contrast between impulse and endurance now becomes the cosmic lesson for the weeks is your daily horoscope for July 13, 2025, outlining how this rare planetary alignment will affect each sign, as per a report by Your retrograde occurs in your sign, prompting a deeper look at your foundations. Today is about more than bold moves — it's about sustainability. Redirect your fiery momentum inward. The question isn't just where you're headed, but how you're getting may feel the urge to retreat. This slowdown is an invitation to confront inner fears rather than avoid them. Pay attention to emotional patterns rooted in self-protection. What you resist could be the key to your takes center stage. Today's horoscope nudges you to assess your social and professional circles. Are they supporting your long-term vision or merely crowding your space? It's time to draw distinctions and prune not ambition, defines you today. Saturn retrograde prompts reflection on how you wield influence. You're reminded that power without principle crumbles. Think beyond achievement — think legacy.A truth you once held firm may now seem outdated. Let this retrograde be a time of philosophical reevaluation. Consider learning over asserting, and allow wisdom to replace ego. Humility, not certainty, leads of trust and emotional vulnerability take precedence. Your daily horoscope urges you to sit with discomfort rather than micromanage your reactions. Growth lies in naming your fears, not in mastering are under Saturn's magnifying lens today. You're called to realign boundaries and redefine what partnership truly means. Surface harmony won't suffice — authenticity is the new retrograde emphasizes discipline over desire. Are your daily efforts aligned with your deeper goals? Commitment now trumps creativity. Build routines that honor your energy instead of depleting is your birthright, but Saturn asks: is your fun fulfilling or fleeting? Reevaluate how you express your creativity. This is a day to transform pleasure into something more meaningful — even may find yourself revisiting your definition of 'home'. Saturn, your ruling planet, nudges you to consider whether your emotional roots are strong enough to support the structure you're building. Renewal is not weakness — it's your thoughts and communication style to shift. Your horoscope suggests today is about refining expression — not just speaking truth, but speaking it well. Listen carefully, and align your words with relationship with value and self-worth is evolving. Are your choices being made from a place of scarcity or abundance? Saturn's energy today encourages you to slow down and build deliberately. If needed, now is the time to reassess financial boundaries and affirm your own Saturn's retrograde is a signal to pause and evaluate the internal systems that define us — from career paths and commitments to emotional structures. In Aries, a sign known for initiating change, the tension is evident: do we leap, or do we build?As Saturn continues its backward motion in Aries over the next several weeks, the effects will gradually intensify — making today's celestial shifts only the beginning of deeper retrograde is a planetary event where Saturn appears to move backward in the sky. Known as the planet of discipline and structure, its retrograde motion signals a time of introspection, reassessment, and slowing down in various life areas, especially those related to responsibility, long-term goals, and internal retrograde begins on Sunday, July 13, 2025, in the zodiac sign Aries.
Time of India
2 hours ago
- Time of India
Grok 4 seems to channel Elon Musk when answering controversial questions
Synopsis Grok 4, Elon Musk's AI chatbot, has been drawing criticism for seemingly echoing Musk's views on controversial topics. Several users have noted its reliance on his X posts. While xAI promotes it as a 'maximally truth-seeking AI,' users have questioned whether its answers are too closely aligned with the views of its creator.
