Don Romano, who was president and CEO for more than ten years, is succeeded by Steve Flamand. Romano was elevated to the positions of advisor for Hyundai Motor Pacific and president and CEO of Hyundai Motor Australia. Romano made Hyundai Canada the second-largest import brand in Canada by leading the company to record retail sales and market share during his tenure there.

Randy Parker said he was confident Flamand could lead Hyundai in Canada because of his vast experience in a variety of international roles and his customer-focused approach.

“I can’t think of a better person to lead Hyundai in Canada than Steve. He brings invaluable experience through his numerous positions across the globe, matched with a customer-focused mindset and Canadian roots,” Parker said.

The appointment also comes amid the news of the 2026 Hyundai IONIQ 9, a fully electric three-row SUV and, most importantly, part of Canada’s most awarded lineup of EVs. It is redefining its segment with a range of 500 to 539 kilometres. The vehicle’s robust 110.3 kWh battery charges from 10% to 80% in just 24 minutes, offering both performance and practicality.

Hyundai Auto Canada, the Ontario-based subsidiary, was established in 1983 and was the first such expansion initiative of Hyundai Motor Company outside Korea. As of March 2025, the company provides a diverse range of technology-rich cars, SUVs, and electrified vehicles through over 250 dealerships across the North American country. Hyundai is also the official automotive partner of the NHLPA (National Hockey League Players’ Association) and NHL (National Hockey League) in Canada.

Who Is Steve Flamand?

Steve Flamand is an accomplished Canadian automotive executive who has worked in the field for more than thirty years. He moved to Ontario when he was a teenager, having been born in Blainville, Quebec. His degrees include an MBA from Queen’s University and a Bachelor of Science in Mechanical Engineering.

At General Motors (GM), where he started his career, Steve Flamand held a number of executive roles in Canada, the United States, Europe, South Korea, and China. He has so far worked in fields like manufacturing, labour relations, product marketing, quality assurance, portfolio planning, corporate strategy, sales, service, and marketing for more than thirty years.

In February 2018, Steve Flamand became the executive director of sales and digital strategy at Hyundai Auto Canada Corp (HACC). He eventually rose to roles like executive director of sales and digital strategy, greatly advancing the company’s expansion. Flamand took over the management of the Hyundai and Genesis brands in Canada when he was named president and CEO of HACC in March 2025.

Steve Flamand’s new position will involve overseeing day-to-day operations for the Hyundai and Genesis brands in Canada. This involves managing 31 distributors for Genesis and 226 Hyundai dealers across the country. While directing the strategic vision for both brands, his main goal will be to improve customer experiences through digitisation in all facets of the company.

As the automotive sector changes due to the popularity of hybrids and electric cars, Flamand’s leadership is anticipated to spur innovation in Hyundai Auto Canada, apart from improving overall consumer experiences.

“Under Steve’s leadership, Hyundai has experienced remarkable growth over the past seven years, reaching record sales,” Romano said of Steve Flamand’s leadership during his time at Hyundai Canada. Flamand’s contribution to the company’s diversity initiatives was also emphasised by Romano.

Hyundai Auto Canada Starts 2025 On A Solid Note

Hyundai Auto Canada started 2025 on a solid note, as it witnessed a significant rise in sales in the month of January. With 9,200 units sold, the period marked a 30.3% increase compared to the previous year. This achievement represents the company’s best January sales performance to date. The TUCSON, ELANTRA, and KONA models were the top sellers, with the TUCSON leading at 2,286 units.

“The IONIQ 5 electric vehicle continued its strong performance with 1,375 units delivered in January. Hyundai’s electrified vehicles, including electric, hybrid, and plug-in hybrid models, accounted for nearly 40% of total sales. In total, 3,646 electrified units were sold during this period,” reported the DriveSpark.

Comparable year-over-year data also revealed substantial growth in electrified vehicle sales. The IONIQ 5 saw a remarkable increase of 244.6%, while the TUCSON PHEV experienced an impressive rise of 387.9%. However, some models like the KONA EV and IONIQ 6 saw declines of 55.3% and 67%, respectively.

“In terms of overall model performance for January, the TUCSON recorded a significant growth of 70%, while the ELANTRA increased by 17.2%. The SANTA FE also showed strong results with a rise of 114.6%. Conversely, the KONA experienced a decline of 32.3% in sales compared to last year. The SONATA model achieved an extraordinary increase in sales by 835.7%, albeit from a low base figure last year. Meanwhile, the SANTA CRUZ saw a decrease of 38.9% in its sales numbers,” DriveSpark noted.

Image Credits: Hyundai Auto Canada

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Samuelsson will begin his two-year term while the group gets ready to name a long-term replacement. Jim Rowan’s departure occurred just roughly three years after he was appointed in January 2022, the same month that Volvo went public on the Stockholm Stock Exchange. Eric Li, the chair of the Volvo Cars board, stated that the company was dealing with rapidly changing technology, escalating geopolitical issues, and heightened competition.

Volvo Cars issued a warning last month that 2025 would be a turbulent and competitive year and that it might find it difficult to match its 2024 profitability and sales results.

Meet Hakan Samuelsson

Samuelsson, who was born in Sweden in 1957, has had a long and illustrious career in the automotive industry. He grew up in a country renowned for its automotive heritage and was always drawn to the engineering and manufacturing sectors.

After completing his engineering education, Hakan Samuelsson became involved with major international auto brands, especially Volvo, where he would play a significant role in determining the company’s future.

Early in the 1990s, Samuelsson joined Volvo, one of Sweden’s most recognisable automakers. With a solid technical background, he advanced through the ranks swiftly and gained experience in a variety of roles that exposed him to the intricacies of technology, management, and car manufacturing.

By the late 2000s, Volvo was facing serious difficulties, and Samuelsson’s leadership skills were needed to help steer the business through a challenging time. His strategic vision and in-depth knowledge of the automotive industry proved to be a game-changer.

Hakan Samuelsson eventually became the CEO of Volvo Cars in 2010. He oversaw several calculated actions that brought the brand back to life. Under his direction, Volvo strengthened its reputation as one of the world’s safest automakers by putting a strong emphasis on safety innovations.

He also pushed the company to switch to electric cars and set ambitious targets for the future, such as pledging to have an all-electric lineup by 2030. As an innovative leader in the automotive industry, Hakan Samuelsson gained recognition for his efforts to guide Volvo toward a sustainable future.

After leading Volvo with success, Samuelsson focused on Polestar, a performance electric vehicle brand that was originally a performance sub-brand of Volvo. Bringing his extensive automotive industry experience to the expanding electric vehicle market, Hakan Samuelsson became the Chairperson of Polestar after it was spun off as an independent business. Under his direction, Polestar produced high-performance electric cars that meet the rising demand for environmentally friendly luxury cars, fusing performance and sustainability. Developing vehicles that embody both state-of-the-art technology and a dedication to sustainability is at the heart of his vision for Polestar.

Throughout his career, Samuelsson has been instrumental in transforming conventional automakers into industry leaders in electric vehicles. His contribution to Volvo’s transition to electric cars and his strategic leadership at Polestar demonstrate his dedication to a more environmentally friendly future for the auto sector.

The future of transportation is still being shaped by Samuelsson’s work, and he continues to play a significant role in advancing sustainable automotive solutions and electric vehicle technology.

A Challenging Path Ahead

Hakan Samuelsson, who oversaw the company’s initial public offering (IPO) in 2021 on the Stockholm Stock Exchange, also witnessed Trump’s first term, something which may help the company chart out a survival route as the tariff warfare from the Republicans gets uglier.

During Trump 1.0 (2017-2021), the company built a car assembly plant in South Carolina, a move that could prove crucial right now in avoiding the dreaded 25% import tariffs.

In contrast to Hakan Samuelsson, Rowan was an unconventional choice with a three-decade career in the consumer and technology sectors. However, he is known for his solid knowledge in fields such as digitalisation, disruption, innovation, engineering, and supply chains.

Sverre Linton, the chief legal officer of the Swedish Shareholder’s Association, which represents small shareholders in Volvo, told Reuters, “Samuelsson is not a wizard; he also needs the help of a solid strategy in which the board plays a central role in creating.”

A similar sentiment was echoed by investors and analysts, who said in their research notes and interviews that they were surprised by the news but noted that Volvo is returning to its roots.

Talking about Volvo, the Swedish automaker’s owner, China’s Geely, which owns 78.7% of Volvo’s stock, is also facing hard times, as the venture has been restructuring its sprawling holdings, including replacing the CEO of troubled EV maker Polestar in August 2024.

Volvo Cars board Chair Eric Li, also known as Li Shufu, has come under pressure from investors. Shareholder advisory groups ISS and Glass Lewis have both advised against his re-election due to his failure to attend the vast majority of the Swedish automaker’s board meetings over the last fiscal year.

European Union (EU) tariffs on Chinese-made electric vehicles forced Volvo to move production of its SUV EX30 to Belgium from China. Trump’s re-election has produced more tariff headaches.

Rowan, before relinquishing his chair, talked about shifting more production to its US plant.

Volvo is one of the most exposed automakers to Trump’s tariffs because, even though it produces its SUV EX90 in its South Carolina plant, it imports most of its hybrid and electric models from Europe at the moment.

In September 2024, the slower-than-expected uptake of EVs also forced the Swedish automaker to abandon its target of going all-electric by 2030. Even though Volvo has impressed analysts with sales growth from previous years, delays to key electric models, a price war on electric cars, and weak EV demand have put pressure on its shares, which have underperformed the European car market.

Volvo, however, has received a new boost as the Swedish sodium-ion battery developer Altris has announced that Volvo Cars Tech Fund has become one of the startup’s strategic investors. In connection with this investment, Altris has agreed with Volvo Cars to collaborate on product development to identify new potential battery energy storage systems.

Since its formation in 2017, Altris has been developing its patented cathode material, “Altris Prussian White,” alongside electrolytes, battery cells, and production blueprints for market-leading sodium-ion batteries.

Volvo Cars will now explore the potential of Altris’ sodium-ion technology for battery energy storage systems (BESS) as well as other solutions within Volvo Cars’ product portfolio. With this move, the venture will become the first automotive manufacturer to collaborate with the startup.

By providing an alternative to lithium, this investment has the potential to support a more diverse supply chain for Volvo Cars. Sodium-ion batteries are still an emerging technology and are not currently planned for use in Volvo Cars’ electric vehicles.

Image Credit: Volvo Cars

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He was a little quirky, but America was used to eccentric, ingenious inventor-CEOs like Steve Jobs. Musk was seen as a hero of capitalism, welcomed with applause and given a prominent seat at the table of public discourse. Perhaps his charged opinions, fantastical futurism, and idiosyncrasies won the hearts of millions initially. But those same polarising opinions, unfulfilled promises, and outlandish behaviours are getting him (or more accurately, the company he built) into terrible trouble.

Without Elon Musk, there would be no Tesla. He poured his PayPal fortune into the struggling startup, a gamble that paid off splendidly. For the longest time, his cars were symbols of environmentalism, prestige, and tech-savviness. If he had just remained the focused CEO of Tesla, it could have been one of the greatest companies of all time.

However, Musk is no longer the man sleeping on the factory floor of his high-tech automobile corporation. He is distracted by politics, petty feuds, and a dozen other ventures like Neuralink, Starlink, SpaceX, and The Boring Company.

He became deeply embroiled in politics through his purchase of the micro-blogging platform Twitter (now X) and his platforming of Donald Trump. As time went by, Musk shifted from a liberal to a libertarian, eventually patronising right-wing hardliners, including those who deny the very climate change Tesla claims to solve. There are even accusations that he did a Nazi salute.

International Finance will examine how Elon Musk’s behaviour is quantifying into a “Musk Discount,” eroding brand trust, accelerating the partisan divide in sales, and leaving the company vulnerable to stagnation while its CEO fights political battles elsewhere.

The rise of a visionary

To understand the sheer magnitude of the reputational collapse and the financial “discount” currently weighing on Tesla’s valuation, one must first painstakingly reconstruct the extraordinary “Musk Premium” that characterised the company’s ascent.

For nearly fifteen years, Elon Musk was more than a CEO; he was the singular asset upon which the entire valuation of the enterprise rested. In the early 2010s, the automotive industry was defined by insurmountable barriers to entry. It was a graveyard of failed startups, a capital-intensive sector where margins were razor-thin, and brand loyalty was entrenched over decades. Into this rigid ecosystem stepped Musk, fresh from his PayPal exit, with a proposition that seemed economically suicidal. He suggested developing a luxury electric sports car to finance the production of a mass-market sedan.

The early narrative was one of existential heroism. Musk’s willingness to pour his personal fortune into Tesla (and SpaceX) when both teetered on the brink of bankruptcy in 2008 forged the initial layer of the “Iron Man” mythos. This was a technocratic saviour utilising capitalism to solve the climate crisis. By positioning himself as the protagonist in a battle for the planet’s future, Musk imbued Tesla products with a profound moral imperative. You did not merely purchase a Model S in 2013; it was also a symbolic vote for a sustainable future and a rejection of the “big oil” status quo.

This narrative construction created a formidable, intangible economic moat. While traditional automakers like General Motors and Toyota spent billions annually on advertising to maintain market share, Tesla spent absolute zero.

The CEO’s X account served as a global broadcasting tower, where updates on software, manufacturing targets, and rocket launches captivated an audience that far transcended the typical car-buying demographic. This “halo effect” allowed Tesla to command premium pricing and maintain high stock valuations despite fundamentally weaker financials than its legacy competitors.

The strength of this bond is visible in historical consumer data. For a sustained period between 2013 and 2020, Tesla topped Consumer Reports owner satisfaction surveys with consistency that defied statistical norms. In 2020, even as the company struggled with initial quality control issues on the Model Y, it secured the top spot for the fourth consecutive year. The satisfaction scores frequently hit 99%, a figure that indicated owners were judging the vehicle not by the panel gaps or paint quality, but by the ideological affinity they felt for the mission and the man leading it.

The financial apotheosis of this visionary status was reached during the bull run of 2020–2021. As Tesla finally conquered the “production hell” of the Model 3 ramp-up (a period where Musk famously slept on the factory floor at Giga Nevada), the market stopped pricing Tesla as a car company and began pricing it as a high-growth technology platform, akin to a software monopoly.

The inclusion of Tesla in the S&P 500 in December 2020 served as the ultimate institutional validation. It was the largest company ever added to the index by market capitalisation, entering with a weight that forced index funds to buy billions of dollars’ worth of shares, driving the price even higher. At the time of this inclusion, Tesla was trading at over 120 times earnings.

By comparison, traditional automakers like Ford or Volkswagen traded at single-digit price-to-earnings ratios. This delta, the difference between 8x earnings and 120x earnings, was the “Musk Premium.” It was the price investors were willing to pay for the optionality of Musk’s brain and the belief that he would solve full autonomy, robotics, and energy storage, creating trillions in value where others saw only steel and rubber.

Between 2010 and 2021, Tesla’s stock performance generated generational wealth for retail investors. The company’s market capitalisation eventually surpassed the combined value of the next nine largest automakers. This phenomenon cemented a base of retail shareholders (often referred to as “Tesla Stans”), who viewed Musk not just as a competent manager but as an infallible oracle.

However, the foundation of this valuation was implicitly and explicitly tied to the CEO’s singular focus. Tesla’s own 10-K filings contained “Key Man” risk disclosures that were far from boilerplate. They were a literal admission of corporate fragility with statements like “We are highly dependent on the services of Elon Musk, Techno King of Tesla and our Chief Executive Officer… Without his relentless drive and uncompromising standards, there would be no Tesla.”

As long as that “relentless drive” was directed at expanding the Supercharger network, improving battery energy density, and refining manufacturing processes, the market was willing to overlook missed deadlines, aggressive tweets, and eccentric behaviour. The eccentricities were seen as features of his genius, not bugs in his leadership.

The cost of madness

The transition from “visionary” to “liability” was not a singular event but a cascading series of reputational fractures that accelerated dramatically between late 2022 and early 2025. The purchase of Twitter (rebranded as X) marked a distinct inflexion point.

It was the moment Musk’s public output shifted from engineering optimism, the vision of sending rockets to Mars and creating electric tunnels and neural interfaces, to a relentless stream of partisan combat, cultural grievances, and conspiracy theories.

The most critical strategic error in Musk’s recent pivot has been the systematic alienation of Tesla’s primary demographic. Historically, the early adopters of electric vehicles (EVs) have skewed heavily Democratic, liberal, and environmentally conscious. These were the consumers willing to pay a premium for a “green” product.

By aligning himself with right-wing hardliners, amplifying climate change sceptics, and engaging in “anti-woke” crusades, Musk placed Tesla in an untenable commercial position. It is now a company selling a solution to climate change run by a man actively supporting politicians who mock its existence.

A landmark study by economists from Yale University and the National Bureau of Economic Research (NBER), released in early 2025, provided devastating empirical evidence of this phenomenon. Analysing vehicle registration data matched with voter registration records across the United States from October 2022 through early 2025, the researchers identified a massive, statistically significant “Musk Partisan Effect.”

The study found an estimated 1.0 to 1.26 million lost vehicle sales (tens of billions of dollars in lost revenue) between October 2022 and early 2025. This decline was most severe in strongly Democratic counties, where sales plummeted by an astonishing 67% to 83% compared to expected trends, simultaneously providing a 17% to 22% sales increase to competitors like Rivian, Ford, and Hyundai. The study posits that without this alienation of his core customer base, Tesla’s sales in the first quarter of 2025 could have been approximately 125% higher than actual figures.

Republican interest in EVs remains structurally low due to ideological opposition to the technology itself, while Democratic interest in Tesla specifically has collapsed. The buyers haven’t stopped wanting electric cars; instead, they have stopped wanting Musk’s electric cars. They are migrating to “anti-Musk” alternatives. The study notes that this effect “showed no indication of slowing down” and had actually increased in intensity by the first quarter of 2025.
The damage to the brand’s intangible value mirrors the devastating sales data. In the early 2020s, Tesla enjoyed a reputation as the gold standard in corporate innovation, akin to the iPhone in 2010. By 2024 and early 2025, brand sentiment trackers painted a bleak picture of a brand in freefall.

Data from YouGov and other reputation indices highlight this precipitous drop. Tesla’s “Buzz score” (a metric that tracks whether consumers are hearing positive or negative news about a brand) remained consistently negative throughout 2023 and 2024, averaging -7.1. This indicates that the dominant conversation around the brand was negative for two straight years.

More alarmingly, in broader reputation polls, Tesla’s ranking plummeted from a top-tier status (sixth) to near the bottom of the list (95th). This erosion is inextricably linked to the CEO’s personal approval ratings. Pew Research Centre data from early 2025 indicates that 54% of American adults now hold an unfavourable view of Musk.

If the partisan alienation was a slow bleed, the events of January 20, 2025, served as a traumatic arterial wound for the brand. Following the inauguration of Donald Trump, Musk, who had been tapped to lead a new “Department of Government Efficiency,” addressed a crowd of supporters at the Capital One Arena in Washington, DC.

During this speech, celebrating what he called “no ordinary victory,” Musk performed a gesture that was widely interpreted as a Nazi salute. The reaction was immediate, visceral, and global.

The optical damage to Tesla was catastrophic. For a brand that relies on coastal urban professionals, a demographic sensitive to social justice and historical sensitivity, the image of their CEO performing a gesture associated with the Third Reich was a breaking point. It cemented the “Musk Discount” as a moral penalty. Driving a Tesla was becoming a social stigma.

The “Musk Discount” is visible in the sharp divergence between Tesla’s stock performance and the broader market. While the S&P 500 and other tech giants surged on the back of the AI boom in 2024, Tesla’s stock languished, decoupling from the “Magnificent Seven” tech cohort.

Over the 12 months leading into early 2025, Tesla significantly underperformed the S&P 500. While the index grew by approximately 12%, Tesla delivered negative returns, dropping 1% over the same period and down nearly 40% from its late 2024 peak by March 2025.

By January 2025, the “political noise” was no longer treated as a sideshow by Wall Street but as a fundamental risk factor. Morgan Stanley, historically one of the most bullish firms on Tesla, downgraded the stock to “equal-weight” and cut price targets, explicitly citing “volatile behaviour” and the distraction of the CEO as primary risks to earnings. Analysts noted that the “political noise” had begun to overshadow the fundamentals.

In 2024, for the first time in its history as a mass-market manufacturer, Tesla saw a decline in annual sales in the United States and failed to meet its global growth targets. The company sold approximately 1.79 million vehicles, while the broader electric vehicle market continued to grow.

The contingency

As the liability of Musk’s leadership grows, the question of corporate governance and succession has moved to the forefront of institutional investor concerns. The lack of a clear contingency plan represents a critical failure of the board of directors, which has been accused of being “captive” to the CEO and derelict in its duty to protect shareholder value from his personal whims.

The extent of the board’s subservience to Musk was laid bare in a landmark legal ruling that reverberated through 2024 and early 2025. In the case of Tornetta vs Musk, Delaware Chancery Court Chancellor Kathaleen McCormick struck down Musk’s massive 2018 compensation package (valued at over $55 billion), ruling that the process to approve it was deeply flawed and legally invalid.

Tesla functions as a monarchy. The board’s subsequent attempts to reinstate the pay package through new shareholder votes in 2024 and 2025, rather than negotiating a new, reasonable deal, only deepened the conflict between institutional investors concerned with governance and retail investors loyal to Musk.
Despite “Key Man” risk being the most significant threat to Tesla’s valuation, the company has stubbornly refused to publish a formal succession plan.

Shareholder proposals demanding a “Key Person Risk” report have been repeatedly voted down by the board, which argues that such disclosures would put the company at a competitive disadvantage. However, the urgency of this issue, amplified by Musk’s distraction with X, SpaceX, xAI, and politics, has forced internal movements that hint at a shadow succession strategy.

The most prominent figure to emerge as a potential stabilising force is Tom Zhu (Zhu Xiaotong). Zhu gained fame within the company for orchestrating the “production miracle” at Giga Shanghai, where he implemented the “China Speed” ethos, characterised by extremely efficient, 24/7 operational intensity.

Under his leadership, Giga Shanghai became Tesla’s most efficient export hub, accounting for half of global deliveries in 2022. Another key player is Omead Afshar, a long-time Musk confidant often referred to as the “fixer” in the office of the CEO. Reports in late 2024 and early 2025 placed him in critical roles overseeing operations in North America and Europe, stepping in to manage sales as inventory piled up. Afshar is viewed as an executor of Musk’s will, a bridge between the chaotic vision of the CEO and the operational reality of the company.

Elon the indispensable

While the “liability” argument is supported by robust sales and brand data, any honest analysis must contend with the formidable counter-argument, i.e. Elon Musk is not merely a manager. To fire him, or to marginalise him, risks turning Tesla into “just another car company,” stripping it of the innovation premium that justifies its stock price. His “madness” is inextricably linked to the method that produced the company’s greatest breakthroughs.

Musk’s value to Tesla is most tangible in the engineering trenches. His management style, characterised by “first principles” thinking (boiling things down to the fundamental truths of physics and economics), has led to breakthroughs that traditional OEMs deemed impossible or unwise. He refuses to accept “reasoning by analogy,” instead demanding to know the atomic cost of materials and the theoretical limits of physics.

The development of the Cybertruck provides a case study in both the madness and the genius of Musk’s method. In the design phase, Musk rejected traditional aluminium body-on-frame designs, which have been the standard for pickup trucks for nearly a century. Instead, he insisted on using an ultra-hard 30X cold-rolled stainless-steel exoskeleton.

At the same time, Musk had decided to pivot the Starship rocket design from carbon fibre to stainless steel to reduce costs and improve thermal durability. He forced this same material science onto the Cybertruck team, demanding they use an alloy so hard it would break traditional stamping presses. This decision caused immense manufacturing headaches, requiring the invention of entirely new manufacturing techniques and contributing to years of delays.

The steel was so hard it could not be painted or stamped into curves, dictating the truck’s polarising “origami” aesthetic. While some might say the design is ugly, the result is a vehicle that is bullet-resistant and dent-proof. The mobile fortress is the safest thing on the road and stands as a physical totem of his refusal to compromise vision for convenience.

The dilemma for investors is that the same psychological traits that led to the “Nazi salute” controversy (impulsiveness, lack of filter, extreme risk tolerance) are the same traits that led to the reusable rocket and the electric car revolution. You cannot have the stainless-steel truck without the chaotic personality that drives it.

Furthermore, Tesla’s recruitment strategy relies heavily on the allure of working for Musk. Top engineers in AI and robotics join Tesla not just for the stock options, but to work with the man who is trying to colonise Mars. The 10-K disclosure admits that the company competes for talent based on this “visionary” allure. Removing him could trigger a brain drain of the most critical technical talent, leaving the company as a hollow shell of its former innovative self.

The future of Tesla

The automaker is no longer a pioneer and has been sidelined by BYD in sales and technology. With Musk’s public relationship with climate change deniers, even the liberals are distancing themselves from him and his products.

The board needs to act fast and figure out if they should wait for an implosion or professionalise Tesla into a mature corporation with clear succession plans, potentially elevating leaders like Tom Zhu.

While Musk’s “first principles” thinking remains essential for breakthroughs in AI and robotics (Optimus, FSD), investors must weigh whether this engineering value still outweighs the “Musk Discount.” The company’s valuation depends on whether Wall Street continues to treat it as a tech monopoly or re-rates it as a distressed auto manufacturer.

Tesla’s future is no longer guaranteed. If the “political noise” continues to drown out product fundamentals, the company risks stagnation, surviving as a niche, volatile tech holding rather than becoming the mass-market, global titan it was promised to be.

The post Visionary CEO or liability? Tesla’s future hangs appeared first on International Finance.

Lithium is essential, be it manufacturing batteries, electronics, or any other technological commodity. Given the high levels of demand and consumption of the material, dependable supply networks are a must to ensure effective production processes.

Abundant natural resources

Mining operations in Chile produce a wide variety of minerals and metals, including copper, gold, iron ore, lithium, and silver. Since lithium is essential to the operation of renewable energy sources like smart grids and electric cars, its manufacturing has grown in importance.

The Chilean government has made significant investments in the growth of the lithium sector.

They intend to encourage international investment through public-private partnerships, invest in research and training programmes for people involved in lithium extraction, improve infrastructure for easier transportation of mined material, and offer tax advantages for new enterprises.

In addition to enabling Chilean businesses to expand operations quickly, the country’s easy access to international markets and easily available resources enables other nations to source this precious metal more efficiently from their supply chains.

In recent years, the production of lithium and related technologies has grown in importance as a source of income. Many countries are attempting to safeguard their supply of the mineral by investing in more effective extraction and refining techniques.

Approximately 40% of the lithium produced worldwide is currently produced in Chile. This places it among the top producers in the world, holding a sizable portion of the resources and the technologies associated with it.

Utilising cutting-edge mining methods, Chile can extract ore of a better grade than other nations. This enables them to continue offering lower pricing than rivals from Asia and Europe. They have therefore succeeded in capturing almost half of the world’s lithium use in recent years.

To cut costs without sacrificing customer needs, many nations are now looking to other sources, such as renewable energy storage systems or recycled batteries from electric cars. Despite this pattern, Chile is still a significant supplier of competitively priced, reasonably priced lithium products to the world market.

Because of its robust infrastructure and affordable operating expenses, the nation is a desirable choice for manufacturers looking for dependable suppliers in the face of unstable geopolitical environments. Chile is an essential component of any thorough analysis of the status of the global lithium market today and its prospective future growth trajectory because of these characteristics.

A 2019 research by the University of Antofagasta and the Chilean government found that Chile accounts for more than 30% of the world’s lithium deposits. This demonstrates the substantial influence Chile’s mining sector has on the global supply of this priceless resource.

There are several financial advantages to Chile’s participation in the lithium sector, including employment creation. Mining activities give locals jobs, especially in outlying communities where there are not many other options.

Improved foreign investments also help the Chilean economy through taxes and royalties, businesses wishing to buy or invest in local mines greatly boost Chile’s economy.

This leads to economic growth, enhanced living standards and better infrastructure. Chile must keep formulating plans as other nations join the lithium market. This will guarantee that its resources are used ethically and effectively while upholding high standards. By doing this, Chile will be able to maximise its profit share in the lucrative global lithium market.

Government laws on lithium mining

The three main pillars of Chilean policy around mineral exports and mining are renewable energy, economy, and safety.

Chile has imposed stringent regulations on miners, including the need for them to pay taxes on any earnings from their activities. Furthermore, foreign businesses who want to conduct business within the nation’s borders are subject to limitations. In addition to safeguarding against possible foreign exploitation, the goal is to guarantee that Chilean enterprises profit from resource extraction.

The country also has strict legislation about renewable energy projects, with an emphasis on ensuring lithium-using facilities follow environmental regulations. This guarantees that businesses generate as little waste or pollution as possible while they are operating. Furthermore, to lessen the burden on natural resources, a lot of organisations are required to use recycled materials whenever feasible.

Several regulations are in place at mines and other associated locations where lithium is extracted or processed to safeguard employees and prevent mishaps. These include the need for appropriate safety gear, frequent inspections, and management-employee communication regarding potentially dangerous situations or processes.

Foreign involvement in the sector

Businesses like Tesla, Apple, and Microsoft have partnerships with some of the top mining businesses in Chile to gain a position in the global lithium market.

These investments offer worldwide markets and Chilean miners a profitable chance. This means that miners will be better protected against changes in export prices. Foreign companies can benefit from lower input costs because of localised labour prices and enhanced technological platforms.

Moreover, these expenditures indicate a change in the sector toward more environmentally friendly practises. By employing contemporary technologies, manufacturers may lessen the waste and emissions linked to the extraction of lithium, which makes them far more desirable partners when seeking to invest in the resources of any given nation.

Lithium battery production is depending more and more on cutting-edge technologies. This has made it possible for battery production to quickly develop in terms of efficacy, affordability, and safety. The emergence of novel technologies, including solid-state battery cells, has made it possible to store more energy in smaller forms at a cheaper cost.

The worldwide lithium market has also been completely transformed using nanotechnology to anode designs that are more effective at charging and discharging lithium ions.

Robotics allows battery manufacturing facilities to produce large quantities of batteries with lower error rates than manual procedures. Automated assembly lines have the potential to boost productivity, lower labour expenses, and enhance product quality assurance.

There is now more rivalry among lithium battery suppliers and manufacturers, which has raised industry performance standards.

Effect of lithium on EV production

The lithium market in Chile can revolutionise the worldwide electric vehicle industry.

Due to its many desirable qualities, Chilean lithium is perfect for use in batteries that power electric cars. For producers wishing to grow into the manufacturing of electric vehicles and associated components, this may present new prospects. In addition, the extraction of lithium from Chile may lessen dependency on fossil fuels and other energy sources, contributing to a more sustainable future.

The use of lithium from Chile has the potential to transform existing smart grid and renewable energy source technologies. Larger amounts of energy from renewable sources may be stored via smart grids, which would also enable more effective information transit between devices. With these technological advancements, renewable energy sources like solar and wind power might be integrated more successfully.

Consumers who depend on electric cars or want dependable access to electricity generated by renewable resources will eventually profit from these advancements. The expanded accessibility to effective transportation networks across the globe or better options for individuals looking for environmentally friendly solutions could arise from the increased availability of Chilean lithium.

Chile’s lithium market’s future

With one of the biggest lithium markets in the world, Chilean authorities have several options for strengthening their nation’s standing in the sector.

Among them are assisting in the development of new extraction techniques and ensuring that current operations adhere to environmental standards. They are also offering rewards for foreign direct investments, and are encouraging regional companies to take part in value-added initiatives linked to the production of lithium.

Authorities are also investigating potential domestic and international partnerships between public and private actors.

Chile has to pursue these tactics in addition to engaging with other nations through trade agreements or joint ventures to develop the sector and effectively realise its full potential within the global lithium market.

Furthermore, for investments to benefit all stakeholders sustainably, they must be made with ethics and responsibility. Chile will be able to capitalise on its natural resources and establish a dominant position in the global lithium market with sustained support from national leaders and long-term planning grounded in sound economic analysis.

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According to the consumer group, plug-in hybrid electric vehicles (PHEVs) have an even worse scorecard, with an average of nearly 150% more issues.

On the other hand, the analysis discovered that standard hybrid cars are a ‘bright spot,’ having roughly 25% fewer issues than gas-powered vehicles.

The most recent vehicle reliability report from Consumer Reports is released while automakers are releasing several new models and consumers can take advantage of a federal tax credit of up to USD 7,500 for buying an electric vehicle.

However, consumers have taken longer than anticipated to adopt EVs, in part because they require additional equipment, like a home electric charging port, and are frequently more expensive to maintain than conventional cars, Consumer Reports noted further.

“This story is one of growing pains. It’s a story of just working out the bugs and the kinks of new technology,” Jake Fisher, senior director of auto testing at Consumer Reports said, while interacting with CBS News.

The results are based on a survey that Consumer Reports members completed regarding issues they had with their cars since 2022. With a few reports concerning new 2024 models, the current report contained data on over 330,000 vehicles manufactured between 2000 and 2023.

The most common complaints from EV owners were related to issues with the charging and battery systems, as well as fit issues between the interior and exterior panels of the cars.

As Electric Vehicle manufacturers continue to learn how to create entirely new power systems, Consumer Reports observed, while noting that the overall reliability of electric vehicles should increase.

However, Consumer Reports pointed out that the persistent worries about dependability would probably compound with worries about increased prices, a lack of charging stations, and lengthy charging times to make many buyers hesitate before making the switch to the technology.

The Consumer Reports survey comes after the publication of the government data, which showed that in the first nine months of 2023, electric vehicle sales went up by nearly 50%, already surpassing the full-year total for 2022. The data also suggested that if American consumers continue to snap up EVs at the current pace, they will easily surpass 1 million annual sales for the first time.

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The most well-liked or family-friendly electric automobiles of 2022 have been featured in dozens of commercials and television programmes, but what is coming in 2023 is even more electrifying. In fact, scores of well-known and established manufacturers have already confirmed amazing electric cars that will go on sale this year. In this article, we will highlight 10 of the most fascinating electric vehicles that will be available in 2023.

Audi A6 E-Tron
The stunning Audi A6 E-Tron, scheduled for launch in 2023, has some pretty cool specifications. In addition to having a fantastic appearance, the car’s manufacturer claims that it will have a maximum range of 435 miles per charge. Speaking of charging, the electric vehicle will have a 100kWh battery and support 270kW fast charging if the right infrastructure is provided. The car can cover 186 miles in just 10 minutes of charging. The A6 E-Tron will have 462 horsepower and 590 lb-ft of torque, experts conclude that the car won’t be a weak vehicle in terms of power.

Fisker Ocean
Although Henry Fisker was a leader in the electric vehicle industry, he was never as successful as he had planned to be. However, he has been working overtime to create his all-electric SUV called the Ocean. The 5-seat Fisker Ocean SUV will be available with a variety of battery packs. The vehicle can drive up to 350 miles on a single charge thanks to the top-of-the-line Hyper Range battery. Additionally, according to Fisker, the Ocean will include a ‘Boost’ mode that will release 550 horsepower and enable the electric SUV to sprint from 0 to 60 miles per hour in just 3.6 seconds.

Faraday Future FF91
One of the most anticipated electric vehicles is the Faraday Future FF91 in 2023. The Chinese manufacturer has disclosed some specifications like the car will have a top speed of roughly 155 mph and a 130kWh battery that can be charged completely in less than an hour when using quick charge and the engine will produce 1050 horsepower.

Jeep Wrangler EV (Magneto)
The Magneto certainly has an all-electric Jeep with Wrangler specifications that appeals to individuals who enjoy driving on rough terrain. This Wrangler EV concept car will include a 285-hp electric motor and a 6-speed manual transmission. The electric vehicle will have a smaller four-battery pack, the capacity of which is presently unclear, due to the design. Price-wise, the regular variant of the electric Jeep is expected to start at USD 50,000.

Toyota Prius
The Toyota Prius is without a doubt the most well-known hybrid vehicle ever, despite not being entirely electric. Toyota unveiled the fifth generation Prius at the recent LA Auto Show, and it has received a significant transformation. The new Prius looks cooler than the previous model, and it has a more powerful hybrid drivetrain and a newly renovated cabin with the coolest technology. Depending on the variation you select, the power output will now be between 194 and 220 horsepower, which is a huge increase over the fairly meager 121 horsepower of the previous model. The latest Toyota Prius 2023 will feature a lithium-ion battery pack, and apparently, it will also get solar panels.

Kia EV9
Kia is aiming to make its car EV9 one of the most cutting-edge electric cars in modern history. Kia claims it will be one of the first full-size, three-row, fully-electric SUVs available and will be far less expensive than the competitors. The range of the car is estimated to be around 300 miles, and it will come with a battery that can sustain 350 kW fast charging. In terms of appearance, the dashboard will have a complete 27-inch infotainment system. As for the EV9’s power output, the company’s smaller EV6 had dual electric motors and 576 horsepower. According to estimates, the base model will cost USD 50,000 and come with a special 10-year Kia warranty.

Canoo Pickup Truck
Due to its innovative design, the American-made pod-like truck startled electric vehicle enthusiasts all over the world. It has a bed that can expand from 72 to 102 inches with a body of 184 to 213 inches long. The Canoo Pickup Truck has a fold-down work table with electrical outlets so a person can work and charge gadgets simultaneously. Given that the electric vehicle has dual electric motors and can generate 600 horsepower and 550 lb-ft of torque. The car has a range of about 200 miles.

Lotus Eletre
Even though Rolls-Royce has been a wholly-owned subsidiary of the BMW Group since 2003, it may seem odd that the company will switch to the world of electric automobiles. It was not as shocking when Rolls introduced the Spectre coupe, the company’s first electric vehicle. The car is almost 5.5 metres long, and weighs almost 3 tonnes. The car has a projected range of more than 300 miles which seems impressive.

BMW i7
Are you ready to catch a ride and go for a movie in this new BMW? Well, you could do both without leaving the car as the brand-new electric vehicle will include a full-fledged screen behind the driver and front passenger seats for the best viewing experience. The i7 will have a 740-hp tri-motor, a 120-kWh battery, and a 305-mile driving range. The BMW i7 has a lot to be envious of when compared to rival manufacturers like Tesla, including numerous technologies for driving assistants and a luxurious cabin. The starting price of the BMW i7 is USD 119,000.

Tesla Cybertruck
In 2023, consumers will be able to witness Tesla’s electric pickup truck. Starting from the exterior, the body is made from Ultra-Hard 30X Cold-Rolled stainless steel, making the truck almost impenetrable. The cybertruck has a payload capacity of up to 3,500 pounds, a towing capacity of 14,000 pounds, adaptive air suspension, six seats, and extra storage behind the second-row seats. Last but not least, the Cybertruck can go from 0 to 60 mph in less than three seconds and it also claims a range of up to 500 miles. It costs USD 40,000, USD 50,000, and USD 70,000 for single, dual, and triple motor variants, respectively, with the option of complete self-driving for an extra USD 10,000.

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The cost of electricity, the cost and availability of raw materials, the ongoing shortage of parts, and the widespread decline in disposable money are all having a significant impact on the manufacturing and sale of electric cars.

There is also worry that if the trend persists, investors won’t be motivated to create charging stations, which will make electric cars less desirable because they would be more challenging to operate.

Up until recently, buying an electric car had become more and more appealing as gas prices soared. However, the price gap has narrowed following recent increases in electricity costs, which in Germany increased by around a third from a year earlier.

Owners of electric cars have experienced price increases of 10% or more, whether they charge their vehicles at home or through agreements with charging companies.

Given that the price of energy is linked to that of gas, which has become increasingly scarce ever since Russia cut off its gas supply to Germany about a few weeks ago, further price increases are expected.

One of Germany’s biggest operators of charging stations, Allego, increased its rates at the beginning of this month from 43 cents to 47 cents per kilowatt hour.

While the fastest, so-called ultra-fast charging, has increased from 68 cents to 75 cents per kilowatt hour, express charging by continuous current has gone up from 65 to 70 cents.

Discount grocery stores, home improvement chains, and furniture retailers that previously provided clients with free charging while they shopped are now enforcing charges.

Automobile economist Stefan Bratzel believes that development poses a direct threat to the sector.

During an interaction with German media, Stefan Bratzel said, “The electricity price explosion could end up being an acute danger for vehicle transition, and we need to be damn careful about it.”

Stefan Bratzel, who is also founder of the Center for Automotive Management (CAM), said, “If electric cars become more expensive to use, the surge in electric mobility is in danger of collapsing, because hardly anyone is going to buy an electric car.”

Stefan Bratzel and other supporters of electric vehicles are now urging the German government to make sure that the price of energy stays below the price of gasoline, which they claim is essential for the viability of electric cars.

In a recent column for the financial newspaper Handelsblatt, Helena Wisbert, director of the Duisburg-based Center for Automotive Research, stated that “electric cars are losing their charm.”

From 2023, state subsidies for electric cars will be cut in half to €4,500, while plug-in hybrid vehicle buyers, who presently receive a €6,750 payment toward their vehicles, would no longer be supported.

A total of €2.5 billion will be made available, which will only be enough to pay bonuses for 400,000 electric cars, which is less than 1% of the cars on German roads.

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The plan has been undertaken in the attempt to have reduced costs on a significant scale, possibly by 30 percent.

Porsche CEO Oliver Blume said: “If both would act on their own, costs would be 30 percent higher.”

He also added that Audi was hiring 550 developers for the electric cars project and Porsche 300.

Blume said that Leipzig has ‘good chances’ for Porshe and there the company could assemble its first model on the basis of the joint planning. There the company is already assembling its Macan sport-utility model.

Rupert Stadler, the CEO at Audi told German newspapers Stuttgarter Zeitung and Stuttgarter Nachrichten: “By 2025, we’re facing a low single-digit billion euro sum to develop the architecture.”

Going forward, both the luxury car manufacturers have made plans to design products that will be manufactured on a joint platform from 2021.

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The new charging station facilitates speed and efficiency as EVs will get fully charged in less than 90 minutes. Proving to be of tremendous benefit to driver partners, fast charging stations will decrease idle time and help increase the operational time of vehicles on the platform with a direct and positive impact on their earnings.

Commenting on the launch Aravind G Raghavendra, Associate Director EV at Ola in Nagpur. said,“We are excited about the role electric mobility is going to play in shaping the future of transportation in the country. Strengthening the infrastructure for EVs will unlock immense opportunities, as well as positively impact the environment and quality of life in our cities. In our continued effort to bring about this transformational change, we are thrilled to partner with IOCL to launch India’s first fast charging station at a fuel station. We expect this to be a significant step towards improving the charging infrastructure network for EVs and setting an example for the EV ecosystem in other cities as the footprint expands. We look forward to partnering with other like-minded PSUs to further strengthen the EV ecosystem nationally.”

On this occasion Shri Murali Srinivasan, Executive Director IOCL , Maharashtra State Office said “We applaud Ola for building the Electric Vehicle ecosystem from a nascent stage in Nagpur and are happy to partner with them in their efforts. EVs have the ability to solve some of the key issues we are currently facing with respect to vehicular pollution and air quality; and as a large-scale mobility platform, Ola can bring about a catalytic change. As India’s largest commercial Petroleum organization, promoting ecological sustainability is core to our business. Thus, this partnership with Ola is the right step forward as we re-imagine how India will commute in the coming years.”

Ola commenced India’s first multimodal EV project in Nagpur in May 2017 with a 200-strong fleet, comprising of electric cars, e-rickshaws, electric auto rickshaws, and electric buses to lay the foundation of electric mobility in India. In line with the rapid adoption and demand from commuters, Ola has strengthened the fleet and is working to further to improve the electric vehicle ecosystem in the city.

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China is the world’s largest auto market, with 28 million vehicles sold in 2016, a boost in demand of 13.7 percent vs. 2015 sales numbers. The nation has already done a lot to incentivize manufacturers to develop and sell new EVs, including allowing foreign automakers to create a third joint venture with local automakers so long as it’s dedicated to the creation of EVs exclusively.

Several other countries have announced similar intentions to ban fossil fuel-powered vehicles: France and the United Kingdom are both aiming to ban sales by 2040. Automakers are also increasingly looking towards electric vehicles: Volvo announced its intentions to produce only electric or electric-hybrids by 2019. Jaguar Land Rover plans to go all electric by 2020, while Aston Martin announced its plans to go completely hybrid by 2025.

The government has also created a number of incentive programs for OEMs, including subsidies. This will add to its positive efforts to drive more EV sales in China with the ultimate negative condition on the other side – at some point, automakers just won’t be able to do business at all in the country if they’re still selling a mix of fossil fuel and electrified vehicles.

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