Two of Tesla's board members, Ira Ehrenpreis and Kimbal Musk, have sold nearly $200 million of the company's stock.
According to Electrek, Ehrenpreis sold 477,572 shares worth over $162 million, and Kimbal Musk sold 91,588 shares worth more than $32 million.
Tesla car sales are dropping, especially in Europe. In the United States, Tesla sales from the first quarter of 2025 were the lowest they have been in nearly three years, according to Reuters.
Even as sales drop, the Model Y and Model 3 are among the best-selling cars, in both traditional and EV markets, in California.
Despite this, board members are selling off their assets. Electrek pointed to Tesla chairwoman Robyn Denholm as another member liquidating their stocks. It wondered if this pattern has anything to do with Tesla's plan to implement a ride-hailing service with autonomous vehicles in the coming months.
One commenter on Electrek's article wrote, "The truth will be told shortly when Tesla fails to file with the department of transportation in Austin."
Regardless of whether you are a fan of Tesla, EVs offer distinct financial and environmental advantages over dirty fuel-powered vehicles. Financially, EVs can cost more upfront, but tax credits and incentives can minimize or even neutralize that gap.
According to Premium Autos Inc., EVs cost an average of $500 to $800 per year to charge, while filling a gas car can cost from $2,000 to $2,200.
Some EV critics say that they are also bad for the environment because of the mining activity required for battery minerals or pollution from manufacturing facilities. But the EPA has debunked the myth that EVs are worse for the environment than gas-powered vehicles.
Using electricity generated from home solar panels to charge can significantly increase the cost savings of owning an EV.
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Absolutely 👍 Home solar is cheaper than using public chargers or relying on electricity from the grid. SolarReviews noted that an EV owner with an at-home solar-powered charger will pay an average of $235 per year to charge their vehicle.
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