The electric-vehicle maker argued that his pay package - one of the biggest in corporate America - motivated Musk to create "tremendous value" for shareholders. This was in response to Institutional Shareholder Services (ISS) last week calling the pay "excessive", while raising concern over Tesla offering its shareholders an "all or nothing" option ahead of a vote at their annual meeting on June 13.
With EV sales slumping, Elon Musk is touting FSD and robotaxis. High-margin BYD just unveiled a more-efficient hybrid system.
Chinese EV makers NIO, XPeng, and Li Auto delivered almost 66,000 vehicles in May, up 29% from April, and up 57% year over year.