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Tesla’s Shocking Price Hike, You Won’t Believe How Much Extra You’ll Pay for Their Futuristic Steering Yoke

Tesla's Shocking Price

In a recent update spotted on Tesla’s online configurator for the Model S sedan and Model X SUV, enthusiasts of the brand’s distinctive steering yoke will need to dig deeper into their pockets to enjoy this unique control feature. How much deeper? Well, U.S. customers will now have to shell out an additional $1,000 for the yoke option, while European and Chinese buyers will face additional charges of €1,000 and RMB 8,000, respectively. For those keeping tabs, this marks a significant four-fold increase from the previous $250 price tag for this “upgrade.”

The story of the steering yoke goes back to 2021 when the latest generation Model S and Model X vehicles were exclusively equipped with this distinctive feature. However, earlier this year, Tesla CEO Elon Musk succumbed to criticism and began manufacturing these flagship models with conventional round steering wheels. For customers who had purchased their Teslas during the mandatory steering yoke era, a dealer-installed retrofit to a round wheel became available in January 2023, albeit at a cost of $700, and it quickly sold out.

The current steering yoke design, reminiscent of something from the 1980s television show “Knight Rider,” has stirred strong opinions among Tesla aficionados. Some owners cherish it for its uniqueness and novelty, while others find it somewhat cumbersome to handle, especially at lower speeds. A similar divide exists among racing drivers who navigate Teslas, with a round-wheeled Model S Plaid dominating its class at the 2021 Pikes Peak Hill Climb, while another Model S Plaid set a record lap for production all-electric vehicles on Germany’s renowned Nurburgring track using a steering yoke.

According to reports from InsideEVs, Tesla is not ready to bid farewell to its idiosyncratic steering wheel just yet. The company is said to be working on an updated yoke design that merges elements of the yoke and a conventional steering wheel, possibly making it more appealing to a broader audience. A steering wheel fitting this description (pictured above) was observed on the upcoming Cybertruck at Tesla’s Investor Day event.

This recent alteration is just one of many in a continuous series of adjustments to pricing and option availability across the Tesla lineup. Additionally, Tesla enthusiasts eagerly anticipate the redesign of the brand’s staple, the Model 3. Tesla’s ability to adapt and innovate in response to consumer feedback remains a defining characteristic of the company’s trajectory in the ever-evolving electric vehicle market.

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In late 2023, The Wall Street Journal dropped a bombshell report claiming Tesla’s board had quietly initiated a search for Elon Musk’s successor as CEO. According to anonymous sources familiar with the matter:

  • The board allegedly began the process approximately one month before the report
  • Multiple executive search firms were contacted, with one firm reportedly selected to lead the process
  • Directors supposedly urged Musk to publicly commit more time to Tesla

The timing is critical. This alleged search coincided with:

  • Tesla’s first year-over-year delivery decline since 2020 (8.5% drop in Q1 2024)
  • A 13% decline in annual revenue – the first since 2017
  • Musk’s increasingly polarizing political engagements

Tesla’s Furious Rebuttal and the Credibility Battle

Within hours of publication, Tesla launched an aggressive counterattack:

1. Official Statement from Chair Robyn Denholm:

  • Called the report “absolutely false”
  • Claimed the board remains “highly confident” in Musk’s leadership
  • Alleged the WSJ was informed of this before publication

2. Musk’s Personal Response:

  • Accused WSJ of “EXTREMELY BAD BREACH OF ETHICS”
  • Claimed the paper ignored Tesla’s “unequivocal denial”

Journalistic Standoff:
The WSJ maintains it:

  • Reached out to Musk for comment (received no response)
  • Never received any pre-publication statement from Tesla

This credibility battle raises serious questions about:

  • The independence of Tesla’s board
  • The reliability of anonymous sourcing
  • Musk’s increasingly adversarial relationship with mainstream media

Deep Dive: Tesla’s Board Composition and Governance Concerns

Tesla’s eight-member board has long faced criticism for its close ties to Musk:

Notable Members:

  1. Kimbal Musk (Elon’s brother)
  2. James Murdoch (son of media mogul Rupert Murdoch)
  3. Ira Ehrenpreis (venture capitalist, Tesla director since 2007)
  4. Robyn Denholm (Chair since 2018)

Governance Red Flags:

  • Lack of Independence: 5 of 8 directors have served over 10 years
  • Compensation Controversy: Approved Musk’s $56B pay package (later voided by court)
  • Recent Insider Selling: Denholm sold $50M+ in shares over 90 days

Expert Perspective:
“Tesla’s board fails nearly every test of good corporate governance,” says Charles Elson, founding director of the Weinberg Center for Corporate Governance. “The level of entrenchment and lack of independent oversight is unprecedented for a company of this size.”

The Five Critical Challenges Facing Tesla’s Leadership

1. The “Key Person” Risk

Musk isn’t just CEO – he’s Tesla’s:

  • Chief product architect
  • Primary technology visionary
  • Main public spokesperson

Succession Planning Reality:

  • Apple began grooming Tim Cook years before Steve Jobs’ passing
  • Microsoft had Satya Nadella in leadership pipeline before Ballmer’s exit
  • Tesla has no publicly identified successor

2. Musk’s Divided Attention

The billionaire currently oversees:

  • SpaceX (CEO)
  • Neuralink (Founder)
  • The Boring Company (Founder)
  • xAI (Founder)
  • X/Twitter (Owner)

Time Allocation Impact:

  • 2023 analysis shows Musk spent <40% time at Tesla
  • Critical product launches (Cybertruck, Roadster) repeatedly delayed

3. Brand Erosion and Political Polarization

Musk’s recent activities:

  • Endorsed conservative political candidates
  • Acquired Twitter and reinstated banned accounts
  • Made controversial statements on gender, COVID, and other hot-button issues

Consumer Impact:

  • 2023 survey showed 18% drop in brand favorability among Democrats
  • 7% increase among Republicans (showing increasing politicization)

4. Operational Challenges

Production Issues:

  • Cybertruck production at 25% of targets
  • Model 3 Highland refresh delayed in North America

Financial Pressures:

  • Operating margins fell from 19% (2021) to 8% (2023)
  • $18B debt load with rising interest expenses

5. Technological Crossroads

Autonomy Delays:

  • Full Self-Driving (FSD) still at Level 2 after 10+ years
  • Major competitors (Waymo, Cruise) deploying robotaxis

Battery Innovation:

  • 4680 cells not meeting energy density targets
  • Chinese competitors achieving faster charging speeds

Potential Succession Scenarios and Implications

Internal Candidates Analysis

1. Drew Baglino (Former SVP Powertrain & Energy)

  • Strengths: Deep technical expertise, 18-year Tesla veteran
  • Weaknesses: Limited public-facing experience, resigned April 2024

2. Tom Zhu (SVP Automotive)

  • Strengths: Turned around China operations, production expert
  • Weaknesses: Limited autonomy/AI experience

3. Lars Moravy (VP Vehicle Engineering)

  • Strengths: Product development leader, respected internally
  • Weaknesses: Unknown strategic vision

External Possibilities

Wildcard Option:
Could Tesla recruit an auto industry veteran like:

  • Jim Farley (Ford CEO)
  • Herbert Diess (Former VW CEO)

Tech Industry Options:

  • Jennifer Tejada (Former PagerDuty CEO)
  • Gwynne Shotwell (SpaceX COO)

Investor Perspectives: What the Street Is Saying

Bull Case:

  • “Musk is irreplaceable as a tech visionary” – Dan Ives, Wedbush
  • “Succession planning doesn’t equal imminent change” – Adam Jonas, Morgan Stanley

Bear Case:

  • “The board has failed shareholders by not planning sooner” – GLJ Research
  • “Tesla needs an operational CEO to complement Musk’s vision” – Bernstein

Institutional Investor Sentiment:

  • Vanguard and BlackRock both supported shareholder proposals for better succession planning
  • 32% of votes favored independent chair proposal in 2023 (up from 26% in 2022)

Historical Precedents: Lessons From Tech Leadership Transitions

Successful Transitions:

  1. Microsoft (Ballmer → Nadella)
    • Key: Clear succession pipeline
    • Result: $500B+ value creation
  2. Apple (Jobs → Cook)
    • Key: Multi-year transition period
    • Result: Maintained innovation while scaling

Failed Transitions:

  1. Uber (Kalanick → Khosrowshahi)
    • Issue: Crisis-driven change
    • Result: Years of instability
  2. WeWork (Neumann → SoftBank takeover)
    • Issue: No planning
    • Result: Near-collapse

The Path Forward: Strategic Recommendations

For Tesla’s Board

  1. Formalize Succession Plan
    • Identify 2-3 internal candidates
    • Establish mentorship program
  2. Enhance Governance
    • Add independent directors
    • Separate Chair/CEO roles
  3. Manage Transparent Communication
    • Public roadmap for leadership development
    • Clear timelines for any transitions

For Investors

  1. Monitor These Key Metrics:
    • Musk’s time allocation (via jet tracking, public appearances)
    • Board refreshment (any new independent appointments)
    • Succession-related disclosures in next proxy statement
  2. Engagement Priorities:
    • Push for formal succession committee
    • Advocate for board independence

Conclusion: Why This Matters Beyond Tesla

The Tesla leadership saga represents a case study in:

  • Founder-led company challenges
  • Board governance in disruptive tech
  • Investor rights in high-growth firms

As Ark Invest’s Cathie Wood recently noted: “The market isn’t pricing in the key person risk at Tesla. When that changes, it could be dramatic.”

The coming months will prove crucial. Will Tesla:

  • Double down on Musk’s leadership?
  • Begin a gradual transition?
  • Face a crisis-driven change?

One thing is certain: How Tesla navigates this challenge will shape not just its future, but the broader conversation about leadership in transformative companies.

Last night, an audacious new automaker named Slate Auto unveiled its first vehicle—a minimalist, no-frills electric truck designed to combat America’s obsession with oversized, overpowered vehicles. With a target price under $20,000 (after incentives), 150 miles of range, and stripped-back design, the Slate Truck is a bold experiment in right-sizing personal transportation.

But will it succeed in a market dominated by monster trucks and SUVs?


Why America’s Obsession With Bigger Trucks Is a Problem

1. The Rise of the “Land Yacht”

  • In 2024, trucks and SUVs made up 75% of new vehicle sales—up from just 50% a decade ago.
  • The average new car now weighs over 5,000 lbs (2.27 tons), with EVs like the Ford F-150 Lightning pushing 6,500 lbs.
  • Bigger vehicles = deadlier roads:
    • Pedestrian deaths surged 57% from 2013–2022 (NHTSA).
    • Trucks with tall hoods (40+ inches) are 44% more lethal (IIHS).

2. The “Compact Truck” Is Nearly Extinct

  • Ford Maverick (2024):
    • 199.7 inches long, 83.5 inches wide
    • Considered “small” by today’s standards
  • Slate Truck:
    • 174.6 inches long, 70.6 inches wide
    • Closer in size to a classic 1985 Toyota pickup

“Our roads are packed with roving land yachts. The Slate Truck is a throwback to when vehicles were sized for humans, not egos.”


Slate Truck: What You Get (And What You Don’t)

✅ The Good: Simple, Affordable, Functional

✔ **20KPriceTag∗∗–Halfthecostofanaveragenewcar(20KPriceTag∗∗–Halfthecostofanaveragenewcar(49,740).
✔ No Bloatware – No touchscreen, no stereo, no paint (keeps costs down).
✔ Smartphone-Centric – Uses a phone/tablet mount + basic gauge cluster.
✔ Practical Hauling – 1,433 lbs payload, 1,000 lbs towing (enough for most users).

❌ The Trade-Offs

  • 150-Mile Range – Fine for city use, but not for road trips.
  • No Luxury Features – If you want Apple CarPlay or a premium sound system, look elsewhere.
  • Aftermarket Customization Required – Want paint? A stereo? You’ll have to DIY.

Could This Be the Start of a “Small Truck” Revival?

Why the Timing Might Be Right

  • EV Incentives – Federal tax credits could keep prices under $20K.
  • Younger Buyers – Gen Z and Millennials prefer affordability over status symbols.
  • Urban Living – Smaller trucks are easier to park in cities.

The Biggest Challenges

⚠ Consumer Psychology – Will buyers reject a “cheap” truck in a premium-obsessed market?
⚠ Political Risk – A Trump win could kill EV tax credits, raising the price.
⚠ Production Realities – Most EV startups fail. Can Slate deliver by 2026?


Verdict: A Long Shot, But a Necessary One

The Slate Truck isn’t for everyone—but it doesn’t need to be. If even 5% of truck buyers opt for a smaller, cheaper, more efficient alternative, it could shift the auto industry’s trajectory.

Final Question:

Would you drive a $20K electric truck with no frills?

  • Yes, if it saves money!
  • No, I need more power/luxury.

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