Tesla Chair Robyn Denholm testified in a case surrounding Elon Musk’s $56 billion compensation plan in 2018, saying that she expected the automaker to produce as many as 100 Semis this year, according to a report from The Wall Street Journal.
Denholm testified remotely, noting that the Semi was originally planned for release in 2019, after revealing the semi truck in 2017. Internal projections for the electric semi oversaw the automaker planning to produce “thousands” of the trucks.
Today, Tesla’s set to deliver its first Semis to PepsiCo on December 1.
The opening day of the trial was primarily focused on Musk’s influence in dictating the compensation package, ahead of Musk taking the stand on Wednesday.
How Tesla Shareholders Can Attend the Semi Delivery Event https://t.co/ohTX3AZtWQ
— TeslaNorth.com (@RealTeslaNorth) November 14, 2022
During her testimony, Denholm also described Tesla’s 2017 and 2018 plans as “audacious,” calling forecasts at the time “ambitious.”
The first witness was Ira Ehrenpreis, the Tesla board member in charge of running point while the plan was generated. In his testimony, he said the pay package included “extraordinarily ambitious and difficult” milestones to help keep Musk engaged in Tesla’s success.
Chancellor Kathaleen McCormick is overseeing the case in a Delaware Chancery Court, and it’s set to last five days — although a decision as to the trial’s result could take weeks or even months.
The case doesn’t include a jury and comes just weeks after Musk closed a $44 billion deal to buy Twitter, narrowly avoiding a court case with the company.
