Electric car making company Tesla hit by lawsuit over tweets by CEO Elon Musk
WION Web Team
California, United States Published: Dec 18, 2021
STORY HIGHLIGHTS
Famous for making eye-popping statements on social media, Musk had asked in a poll on Twitter if people thought he should sell 10 percent of his stake in Tesla
Electric car producer Tesla has been hit by a lawsuit because of tweets by CEO Elon Musk.
In the poll, almost 58 percent of the 3.5 million votes cast were in favor of him proceeding with the sale.
Now, Tesla investor David Wagner has accused Musk of violating an agreement with the US securities regulator.
He believes the company's board members failed to adhere to their fiduciary duties and has filed for access to internal documents to investigate the matter at the Delaware Court of Chancery.
Also read | Tesla CEO Elon Musk is thinking of quitting his jobs and becoming an influencer
Under a September 2018 settlement with the US Securities and Exchange Commission, Musk was required to step down as chairman and pay $20 million to settle charges he defrauded investors with false claims on Twitter about the possible go-private transaction that was quickly aborted.
Musk, who is the world's richest person, has sold just over 934,000 shares in Tesla, according to documents filed with US stock regulators. They were worth about $14 billion.
Also read | Tesla CEO Elon Musk wealthier than Pakistan’s GDP
Wagner alleges that Tesla shares, which had hovered near record-highs, lost their value by about a quarter after the irresponsible tweets made by Musk.
Analysts said the 50-year-old South African billionaire's stock sale will be liable for capital gains tax of at least $1.4 billion.
His tweets followed a proposal by US Congressional Democrats to tax the super-wealthy more heavily by targeting stocks, which are usually only taxed when sold.
(With inputs from agencies)
Watch: Telsa Owner Told Repairs Will Cost 20,000 Euros. He Chose Dynamite
Jaala, an idyllic and ice-covered village in south Finland's Kymenlaakso region with just a few thousand people, witnessed a bizarre incident as the owner of a 2013 Tesla Model S set his car up for an explosion.
Edited by Sumana Nandy
The Tesla was blown up at an abandoned quarry
The video opens with shots of the picturesque countryside of Finland with vast snow-covered expanses, very few houses, and trees. A voiceover speaks about life and its hardships in this country. "From time to time, things just go wrong, sh*t hits the fan. Then it's time for Finnish intransigence to step on the lead," it says, setting the tone for what's about to happen next - a massive explosion.
Sticks of dynamite were mounted onto one side of the car to direct the blast in one direction
"This time Pommijatkat's mission is to explode the 2013 Tesla Model S," the voiceover announces before the car's owner - Tuomas Katainen - reveals why.
"When I bought that Tesla, the first 1,500 km were nice. It was an excellent car. Then the error codes hit. So I ordered the tow truck to take my car to the service station. For almost a month the car was at the dealer's workshop and I finally got a call that they cannot do anything for my car. The only option is to change the whole battery cell," the owner says with his white Tesla in the background.
"It would cost me at least 20,000 Euros."
The explosion was no easy task
"So, I told them I am coming to pick up my car. And now I am going to explode the whole car away because apparently there was no guarantee or anything," he reasons.
The explosion was no easy task. Sticks of dynamite were mounted onto one side of the car to direct the blast in one direction and ensure that the fragments hit a rock wall behind the car. A circuit of fuses was built.
"Feels so good right now," the car's owner said
The video shows a montage of the kind of effort that went into readying the Tesla for this massive blast.
Suddenly, a helicopter is seen flying in and dropping an effigy of Tesla's CEO Elon Musk - complete with a helmet. "Well, Elon Musk called us yesterday and said he really wants to take the ride with that Tesla," the stuntman of the YouTube channel jokes.
A helicopter dropped an effigy of Tesla's CEO Elon Musk - complete with a helmet
The effigy is then strapped into the driver's seat of the Tesla and it is now time to blast off.
The crew, along with the car's owner, then goes inside a bunker, ready to push a button. "Any thoughts now?" they ask Mr Katainen. "Feels so good right now. Can't wait for the blast," he says. At the count of three, the car is blown.
The video, which amassed over 2.23 lakh views in just a few hours, shows the explosion from various angles, in slow motion, and also the charred parts of the high-end car. The crew and the owner then collect the debris, accumulate them in a pile.
Jaala, an idyllic and ice-covered village in south Finland's Kymenlaakso region with just a few thousand people, witnessed a bizarre incident as the owner of a 2013 Tesla Model S set his car up for an explosion.
Edited by Sumana Nandy
Updated: December 19, 2021
The owner of a 2013 Tesla Model S set his car up for an explosion
Automobile giant Tesla leads the EV sector with innovations and new technology. But that was not enough to stop a disgruntled customer from blowing up his Tesla car using 30 kg of dynamite.
Jaala, an idyllic and ice-covered village in south Finland's Kymenlaakso region with just a few thousand people, witnessed a bizarre incident as the owner of a 2013 Tesla Model S set his car up for an explosion.
The crew of a YouTube channel - Pommijatkat - shot the entire episode that premiered today with the help of a few volunteers.
The owner of a 2013 Tesla Model S set his car up for an explosion
Automobile giant Tesla leads the EV sector with innovations and new technology. But that was not enough to stop a disgruntled customer from blowing up his Tesla car using 30 kg of dynamite.
Jaala, an idyllic and ice-covered village in south Finland's Kymenlaakso region with just a few thousand people, witnessed a bizarre incident as the owner of a 2013 Tesla Model S set his car up for an explosion.
The crew of a YouTube channel - Pommijatkat - shot the entire episode that premiered today with the help of a few volunteers.
The Tesla was blown up at an abandoned quarry
The video opens with shots of the picturesque countryside of Finland with vast snow-covered expanses, very few houses, and trees. A voiceover speaks about life and its hardships in this country. "From time to time, things just go wrong, sh*t hits the fan. Then it's time for Finnish intransigence to step on the lead," it says, setting the tone for what's about to happen next - a massive explosion.
Sticks of dynamite were mounted onto one side of the car to direct the blast in one direction
"This time Pommijatkat's mission is to explode the 2013 Tesla Model S," the voiceover announces before the car's owner - Tuomas Katainen - reveals why.
"When I bought that Tesla, the first 1,500 km were nice. It was an excellent car. Then the error codes hit. So I ordered the tow truck to take my car to the service station. For almost a month the car was at the dealer's workshop and I finally got a call that they cannot do anything for my car. The only option is to change the whole battery cell," the owner says with his white Tesla in the background.
"It would cost me at least 20,000 Euros."
The explosion was no easy task
"So, I told them I am coming to pick up my car. And now I am going to explode the whole car away because apparently there was no guarantee or anything," he reasons.
The explosion was no easy task. Sticks of dynamite were mounted onto one side of the car to direct the blast in one direction and ensure that the fragments hit a rock wall behind the car. A circuit of fuses was built.
"Feels so good right now," the car's owner said
The video shows a montage of the kind of effort that went into readying the Tesla for this massive blast.
Suddenly, a helicopter is seen flying in and dropping an effigy of Tesla's CEO Elon Musk - complete with a helmet. "Well, Elon Musk called us yesterday and said he really wants to take the ride with that Tesla," the stuntman of the YouTube channel jokes.
A helicopter dropped an effigy of Tesla's CEO Elon Musk - complete with a helmet
The effigy is then strapped into the driver's seat of the Tesla and it is now time to blast off.
The crew, along with the car's owner, then goes inside a bunker, ready to push a button. "Any thoughts now?" they ask Mr Katainen. "Feels so good right now. Can't wait for the blast," he says. At the count of three, the car is blown.
The video, which amassed over 2.23 lakh views in just a few hours, shows the explosion from various angles, in slow motion, and also the charred parts of the high-end car. The crew and the owner then collect the debris, accumulate them in a pile.
"There's nothing left. Absolutely nothing," Mr Katainen says into the camera, adding, "I never enjoyed this much with the Tesla! And also, maybe I am the first person in the world who has exploded a Tesla. So maybe, made some history."
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