Billionaire Elon Musk’s company said in a regulatory filing the meeting would be held on November 6, but that may prove troublesome because it comes nearly three months after it is required to do so under state law in Texas, where the company is incorporated.
The annual meeting, given Tesla’s fortunes this year, has the potential to be a raucous event and it is unclear how investors will react to the delay, which is rare for any major US corporation.
Tesla shares have plunged 27pc this year, largely due to the fallout over Mr Musk’s affiliation with Donald Trump, as well as rising competition.
The announcement of the meeting comes a day after a group of more than 20 Tesla shareholders sent a letter to the company’s board pressing for an annual meeting.
Many shareholders have been upset by Mr Musk’s participation in the Trump administration this year, saying he needs to focus on his EV company, which is facing extraordinary pressures.
US president Donald Trump. Photo: Reuters
“An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board’s approach to executive compensation, and other matters of material importance,” the group said in the letter.
The group cited Texas law, which requires companies to schedule annual shareholders meetings within 13 months of the prior annual meeting.
Tesla’s last shareholders meeting was on June 13 of last year, where investors voted to restore Mr Musk’s record $44.9bn (€38.4bn) pay package that was thrown out by a Delaware judge earlier that year.
Mr Musk has also announced the Grok chatbot will be heading to Tesla vehicles. “Grok is coming to Tesla vehicles very soon. Next week at the latest,” he said on X.
Grok was developed by Mr Musk’s artificial intelligence company xAI and pitched as an alternative to “woke AI” interactions from rival chatbots like Google’s Gemini, or OpenAI’s ChatGPT.
However, Grok has had a bumpy ride during its rollout. On Wednesday xAI announced it was taking down “inappropriate posts” made by its Grok chatbot, which appeared to include antisemitic comments that praised Adolf Hitler.
Shares of Tesla rose 3pc yesterday after tumbling this week when the feud between Mr Trump and Mr Musk heated up again.
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