Elon Musk: Daimler's "golden handcuffs" mean I'll stay with Tesla through Model S launch
For a guy who allegedly wants a lot of the credit for creating Tesla Motors, Elon Musk certainly doesn't seem to like the job of being its CEO. As part of Daimler's investment deal with Tesla, Musk needed to commit to staying on as Tesla's CEO at least until the Model S launches in 2011. Musk told Reuters:
I didn't really have a choice. This was a requirement of Daimler that I remain CEO of Tesla through the Model S launch and then continue to be part of Tesla in a chairman role beyond that. It's flattering, but at the same time it's golden handcuffs.
Well, that sure makes it sound like fun, doesn't it? It's clear that Musk has always been interested in projects other than EVs (e.g.: electric planes and SpaceX), but does he have to make running one of the hippest electric car companies around sound like a drag?
Another nugget from the article: one of the reasons the price on the Roadster was raised was to help qualify Tesla Motors for the DOE loan it later received. Musk said, "We did the minimum we needed to do to make the business work."
Gallery: Tesla Model S
[Source: Reuters]
Reader Comments (Page 1 of 1)
Snoopy 11:29AM (7/01/2009)
This kind of makes all that talk about him just trying to build up the name and then exit ASAP sound very true. Why set yourself up for more people talking smack about you?
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Anonymouse 12:01PM (7/01/2009)
I like the term "golden handcuffs". My adviser has used the term in reference to my proposal to have my business compensate employee benefits at 1.35 times salary (a generous rate).
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FitFan 1:54PM (7/01/2009)
They should have used a golden gag instead.
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Throwback 1:58PM (7/01/2009)
"but does he have to make running one of the hippest electric car companies around sound like a drag?"
Well, yes. He is a serial entrenpenuer and is already thinking about his next endeavor. He has constantly said he is not a car guy and his interest is in showing he can create a viable EV, not running a car company.
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James 3:49PM (7/01/2009)
Am I the only person who thinks Musk is an idiot?
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jwer 4:25PM (7/01/2009)
No sir, you are not. Although I think "a huge douchebag" would be more appropriate.
Yanquetino 11:05AM (7/02/2009)
I'll believe it when I see the actual wording in the Daimler contract. Please post it soon, AutoBlogGreen. Along with a scan of his physics dipoma.
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