Elon Musk’s $1 trillion pay package and Tesla’s ambitious goal of 10 million active Full Self-Driving (FSD) subscribers are facing potential hurdles as European regulators express concerns about the technology.
Concerns Over FSD
Regulators in the Netherlands and Scandinavian countries such as Sweden, Denmark, Norway, and Finland have raised concerns about the safety of FSD in icy road conditions. They are also worried about the technology’s tendency to speed up and its ability to circumvent phone use prevention. Additionally, regulators are concerned about Tesla asking its supporters to urge them to approve the technology in the region.
Approval Process
For EU-wide approval, the technology must receive a nod from committee members representing 55% of EU member states. It also requires 65% of the bloc’s population to vote “yes”. Following the approval by the Netherlands Vehicle Authority (RDW), Tesla lobbyists are urging countries like Finland, Estonia, and Sweden to approve the tech.
Elon Musk’s Tesla Pay Package
Tesla shareholders approved a $1 trillion pay package for Musk, which is contingent on Tesla achieving milestones like 10 million active FSD subscriptions and 1 million Tesla robotaxis on the road. Other milestones include delivering over 1 million robots by 2035. Meanwhile, Tesla is keeping up with Musk’s April timeline for the production of the Cybercab at the automaker’s Gigafactory in Texas.
Tesla’s European Rebound
Tesla has shown growth in multiple markets across Europe, with countries like France recording a 112% growth, while the Netherlands recorded a 23% growth in sales. However, the automaker’s sales were down 47% in Spain and 61% in Norway.
Price Action
TSLA was down 0.16% at $391.89 during overnight trading.