Shareholders of Tesla named the salary of Elon Mask

Shareholders of Tesla named the salary of Elon Mask

March 22, 2018 0 By autotimesnews

The head of Tesla Elon Musk will receive about 2.6 billion dollars a year, reports BBC. It was such payments to the American that the shareholders approved of the company after voting at the meeting, despite the record loss that Tesla incurred in 2017.

However, Mask will be able to count on such a salary only if Tesla achieves certain goals that shareholders will set. First of all, they will be connected with sales of electric cars of the American brand. For example, last year Tesla Motors sold 102 thousand new electric cars, having fulfilled the task of selling at least 100 thousand cars per year.

In total, 73% of the shareholders’ meeting voted for the decision. Against the backdrop of this information, the company’s shares rose by 3%.

Tesla, a company focused on the production of electric vehicles, was founded in 2003. Since 2008, he sells the Tesla Roadster. In 2012, the company introduced the Model S. sedan. The manufacturer’s headquarters are in Palo Alto, California. The company employs more than two thousand people.

In February of this year, Tesla Motors decided to change its name to Tesla Inc. At this step, the American company went to remind of its plans to go beyond selling only electric cars and create a real “energy empire.”

In 2017, the company suffered record losses – the net loss of the American manufacturer of electric cars exceeded two billion dollars. The total annual income of Tesla was $ 3.3 billion, but the total net loss was $ 2.24 billion, which is three times more than losses in 2016 ($ 773 million).

Last year was very controversial for the American company. On the one hand, it brought to market its most affordable electric car – Model 3, and also showed prototypes of two new models – the Semi truck and the sports car Roadster.

At the same time, Tesla failed to launch the same Model 3, faced with serious difficulties in setting up the production process. In addition, the company was involved in a number of court proceedings related to staff complaints about poor working conditions.