Tesla Electric Semis Make Their Inaugural Run Hauling Cargo

US$2.6b award plan for Musk cheered by big Tesla shareholders

Elon Musk's $2.6 Billion Award Cheered By Big Tesla Shareholders

Separately, Musk also took to Twitter on Thursday to call on U.S. President Donald Trump to challenge Chinese auto trade rules.

In 2016, Tesla sold $1 billion of electric cars in China, the company reported.

Musk then went on to describe how ownership rules among American automakers operating in China are skewed against the US-based firms. There is no exact arrival date for the said auto technology though Musk previously announced that it will be released sometime in early 2018, meaning it may be just around the corner. Just want a fair outcome, ideally where tariffs/rules are equally moderate.

While Donald Trump is yet to issue a direct response to Musk's statements on Twitter, the US President has been quite open about his support for Elon Musk.

Musk continued the thread by stating that the current discrepancy between the USA and China's tariffs on cars makes things "very difficult" and is like "competing in an Olympic race wearing lead shoes".

Baillie Gifford & Co. and T. Rowe Price Group, which combined own about 14 per cent of Tesla stock, indicated to Bloomberg News that they'll vote in favour of the board's proposal at a March 21 special meeting. It's a mirror tax, ' said Trump, explaining that the tax would try to replicate the taxes other nations put on US products. To get around the 25 percent import tariff, though, the company has explored setting up a factory.

Musk pointed out that American companies that ship their cars to China pay a significantly larger import duty than Chinese cars that come to the US. "To me, that was more wonderful than watching the rocket go up because I've never seen that before". "Nothing more. Hope this does not seem unreasonable", Musk tweeted.

Trump referenced the SpaceX launch last month that brought home two of the rocket's boosters, getting them to land within miles of the launch pads where they had launched - and touted the benefits of further private investments in space.

Baillie Gifford & Co. and T. Rowe Price, which together hold a 14% stake in Tesla, told Bloomberg News they plan to vote in favor of a $2.6 billion compensation package for Musk proposed by the company's board.

Although Tesla is primarily known for their line of premium electric cars, CEO Elon Musk has had his eyes set on more than just that.

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