Author: john@provenroi.com
Norway Breaks New EV Sales Record in July as Tesla Model Y Leads Norway has once again solidified its position as the world leader in electric vehicle (EV) adoption, setting a new benchmark in July 2025. According to figures released by the Norwegian Road Traffic Information Council (OFV), the country saw a record number of EV sales in July, with the Tesla Model Y leading the pack. The popularity of electric vehicles in Norway continues to grow, with EVs accounting for a significant portion of total vehicle sales in the country. In July alone, EVs made up over 80% of…
Tesla is facing yet another lawsuit from activist shareholders, who are accusing the company and its CEO, Elon Musk, of securities fraud. The shareholders claim that Tesla misled investors about the safety of the vehicles used in the Robotaxi rollout in Austin, Texas, which began on June 22. According to the lawsuit filed in Texas federal court, videos show the Robotaxi vehicles speeding, exhibiting sudden braking, driving over curbs, entering the wrong lane, and dropping passengers off in the middle of multilane roads. The plaintiffs are seeking damages for shareholders between April 19, 2023, and June 22, 2025. Despite operating…
General Motors engineers recently achieved a remarkable feat by driving the Chevrolet Silverado EV WT over 1,000 miles on a single charge. This impressive milestone was achieved by adhering to a strict set of guidelines, including maintaining speeds between 20-25 mph, avoiding the use of climate control, and making modifications to reduce rolling resistance and drag. The 2026 Silverado EV WT boasts an EPA range rating of 493 miles, making it one of the most efficient electric vehicles on the market. While it may not be practical for the average driver to cover such a distance without stopping to charge,…
Tesla has recently granted CEO Elon Musk an interim compensation package valued at approximately $29 billion, in light of the ongoing legal dispute surrounding his original 2018 CEO Performance Award. In a letter addressed to shareholders, Tesla’s Board announced the unanimous approval (with Elon and Kimbal Musk abstaining) of issuing 96 million restricted shares to Musk, which represents about one-third of the total 300 million shares associated with the 2018 award. The original award, currently valued at over $50 billion, had garnered support from more than 72% of Tesla shareholders in both 2018 and 2024, but has faced legal challenges…
Volvo, the Swedish automaker, is facing a challenging time as it recorded its fifth consecutive drop in global sales in July. With sales plummeting to just 49,273 cars last month, Volvo experienced a 14% decrease compared to the previous year, marking its lowest volume of sales for the year 2025. This downward trend has been a persistent issue for the company, culminating in a $1 billion operating loss in the second quarter. The decline in sales can be attributed to several factors, including the company’s failure to adapt to changing market demands and a lack of foresight in production strategy.…
Tesla is making significant strides in its entry into the Indian market, with the recent opening of its first Supercharger site in the country. Located at One BKC in Mumbai’s Bandra Kurla Complex, this charging station features four V4 Superchargers for fast DC charging and four AC destination chargers. This is just the beginning, as Tesla has plans to open several more charging sites in Mumbai, including locations in Thane, Lower Parel, and Navi Mumbai. By the end of the September quarter, the city is expected to have a total of 16 Superchargers spread across four different locations. Next on…
Tesla has recently announced a groundbreaking move to retain CEO Elon Musk by rewarding him with a massive restricted stock package worth around $29 billion. This decision comes after Musk’s previous pay package was rejected by a Delaware Chancery Court in 2018, leading him to question his future at the company. The Special Committee of the Tesla Board, comprised of Board Chair Robyn Denholm and board member Kathleen Wilson-Thompson, unanimously approved this recommendation to compensate Musk for his exceptional contributions over the past seven years. The package aims to reward Musk for leading various successful Tesla projects that have generated…
Rivian, the electric vehicle manufacturer, is taking legal action against the State of Ohio over a ban that prevents direct-to-consumer sales of cars in the state. This ban, implemented in 2014, prohibits Rivian from selling its vehicles directly to consumers in Ohio. However, Tesla was granted a special exemption in 2014, allowing the company to operate its own direct-to-consumer stores in the state with a limit of three stores. The lawsuit filed by Rivian argues that the carveout given to Tesla is unfair and puts Rivian at a disadvantage. The company currently does not have any physical showrooms in Ohio,…
Tesla is making significant strides in ramping up Model Y production at its Gigafactory in Texas, with a renewed sense of urgency as the end of the U.S. federal EV tax credit approaches. According to industry expert Joe Tegtmeyer, Giga Texas has implemented a new production schedule for the Model Y, extending workdays by 1.5 hours and operating from Monday to Thursday, from 6:00 a.m. to 6:00 p.m. Additionally, the factory has been receiving new equipment deliveries, including a large robot being installed on the third-floor mezzanine of the main factory building, alongside upgrades in the paint shop and switchyard…
Tesla’s CEO Elon Musk has been rewarded with a substantial restricted stock package worth approximately $29 billion in shares to retain him as the head of the company. This move comes after Musk’s 2018 pay package was rejected by a Delaware Chancery Court, leading him to question his future at Tesla. The Special Committee of the Tesla Board approved this package unanimously, aiming to retain Musk for several years. On Monday morning, Tesla announced that a Special Committee, consisting of Board Chair Robyn Denholm and board member Kathleen Wilson-Thompson, recommended compensating Musk for his exceptional work and contributions to the…