Spotlight on Musk's pay, why some EV owners are returning to gas, E.U. imposes new tariffs

Hey everyone. I’m so stoked to share that Randy Parker, CEO of Hyundai Motor America is on the CDG podcast today.

Randy discusses how he leads the fast-growing car brand in America, why the OEM is investing $1 billion in new dealerships, the future of FSD and fast charging, and much more. This is a big one folks.

— CDG

1. Musk touts shareholder vote approving $56 billion payment

Tesla CEO Elon Musk claimed late Wednesday that company shareholders had voted in favor of two measures, one approving the executive’s unprecedented $56 billion pay package, the other approving the company’s plans to move its headquarters to Texas.

Why this matters: With its continued dominance over the market, Tesla is, for better or worse, the future of the EV segment (at least for now). However, a list of controversies centered around the brand and its chief executive, as well as declines in profit and sales, have recently put that future in doubt … Read more

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2. New research challenges narrative on EV buyer satisfaction

New research indicates that more than 40% of EV buyers in the U.S. will purchase a gas vehicle the next time they shop for a car.

Why does this matter: This study conflicts with other research focusing on EV buyer satisfaction, which typically suggests that most electric car drivers have no plans to return to an ICE vehicle. This raises questions on both sides about the EV owner experience … Read more

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3. Chinese cars take lead, but E.U. slams brakes with tariffs

On the global stage, Chinese automakers outsold their U.S. competition for the first time last year, but that trend could change very soon.

At a glance: Weeks after America decided to increase tariffs on Chinese EVs from 25% to 100%, the European Union followed suit, albeit less aggressively … Read more 

• Tesla CEO Elon Musk quickly shot down a plea from dealership advisory firm Haig Partners to consider partnering with franchised dealerships in order to boost the EV maker's cooling U.S. sales.

• A coalition of oil and gas lobbying groups is suing the Biden administration to stop its new tailpipe emissions standards.

• Porsche Cars North America has signed an agreement that gives drivers access to ChargePoint’s network within the Porsche Charging Service.

• Honda will kill all of Its gas motorcycles by 2040.

• EV maker Fisker issued voluntary recalls for its Ocean SUV due to software-related issues.

Thanks for reading everyone.

— CDG