Tesla’s Profit Tumbles
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Tesla, Elon Musk and Stock
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Tesla said on Thursday it is recalling 63,619 Cybertrucks over software that makes the front parking lights too bright, potentially impairing oncoming drivers' vision. It said an over-the-air software update has been released to the fix the issue at no charge for the Cybertrucks built between November 13,
Tesla chief Elon Musk said in a call with investors on Wednesday that his team is “on the cusp of something really tremendous” with Optimus, the humanoid robot that it’s been working on since 2021.
That pay package, according to Tesla, will keep Musk focused and committed to the company, and it’s contingent on unprecedented and unrealistic milestones that no other executive would be able to achieve for the business.
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The National Highway Traffic Safety Administration said that the recall includes certain Cybertrucks with a model year between 2024 and 2026.
Tesla said Wednesday that its profit sank in the third quarter after it cut car prices to lift sales. Profit fell to $1.4 billion from $2.2 billion a year earlier, a drop of 37 percent, the company said. Sales rose to $28.1 billion from $25.2 billion.
Tesla CEO Elon Musk asks shareholders to support his proposed $1 trillion compensation package that could give him up to 12% of the company's stock.