American businessman and investor, Elon Musk is demanding 25% ownership of Tesla and has also threatened to halt artificial intelligence (AI) and robotics development for the company.
Musk made the demand in a recent post shared on his official X handle, which appears to confirm and even clarify what can be seen as a threat to Tesla shareholders.
Recall that Musk had asserted in the past that Tesla is a robotics and AI company on multiple occasions. The billionaire businessman also declared that without self-driving, its primary AI product, Tesla is essentially nothing.
READ ALSO:Elon Musk seeks to charge new X users to allow them post
In a recent post on X, Musk appears to confirm his previous threat while agreeing to three conditions that would prevent him from diverting AI and robotics projects away from Tesla:
The post confirmed by Musk reads; ‘‘If Elon gets 25% voting power, Tesla is reincorporated in Texas, and compensation package is approved, then AI & Robotics stay within Tesla and the company can march forward to become the largest company in the world.’’
Musk’s proposal comes at a crucial time for Tesla, as the EV manufacturer is finally under pricing pressure and its stock is experiencing considerable volatility. The company’s profits have also dropped by 55% as a result of increased competition.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
