The billionaire said the electric car maker will hold a shareholder vote to transfer the group’s state of incorporation. The shift comes as Musk, 52, the company’s chief executive, reels from the court decision on Tuesday that voided his £44billion pay package. Pay row: : Tesla boss Elon Musk said the electric car maker will hold a shareholder vote to transfer the group’s state of incorporationHe is currently said to be worth around £160billion. Last month, he warned that car production at Tesla will slow this year as the firm posted a sharp drop in profits. It comes as the company faces mounting pressure from Chinese rivals such as BYD which are looking to dominate the electric car market.

Source: Daily Mail February 01, 2024 22:27 UTC