Elon Musk, already the world’s richest man, scored another huge windfall Friday when the Delaware Supreme Court reversed a decision that deprived him of a $55 billion pay package that Tesla doled out in 2018 as an incentive for its CEO to steer the automaker to new heights. Besides padding Musk’s current fortune of $679 billion, the restoration of the 2018 pay package vindicates his long-held belief that the Delaware legal system had overstepped its bounds in January 2024 when Chancellor Kathaleen St. Jude McCormick rescinded the compensation in a case brought by a disgruntled Tesla shareholder.
Ford is recalling more than 270,000 electric and hybrid vehicles in the U.S. because of a parking function problem that could lead to them rolling away. The Detroit automaker says that the recall includes some 2022-2026 F-150 Lightnings, 2024-2026 Mustang Mach-Es, and 2025-2026 Mavericks. At issue is the integrated park module, which may fail to lock into the park position when the driver shifts into park. Ford says that it will implement a park module software update for free. Vehicle owners may contact Ford customer service at 1-866-436-7332 for additional information.
On Tuesday, BlueOval SK hosted a job fair at its new executive office space in Elizabethtown that will serve as a recruiting center.
Toyota is halting production for a few days at all of its automobile and components plants in North America, including its largest plant in the world in Georgetown, Ky.
In an automotive garage in downtown Louisville, students barely out of high school try to work through staged automotive issues on a fleet of Toyota vehicles.
As consumers are test driving the latest models at the Louisville Auto Show this weekend, Governor Steve Beshear will be meeting with auto industry leaders in Germany and Sweden.