Summary by Moomoo AI
Tesla Inc is facing a shareholder resolution to commit to a moratorium on sourcing minerals from deep sea mining (DSM), which is considered environmentally destructive and unnecessary for substantial electric vehicle deployment. The resolution, set for a vote at the annual meeting on June 13, 2024, is backed by As You Sow, an advocacy group that has submitted written materials voluntarily for public disclosure. The resolution highlights the irreversible damage DSM poses to marine ecosystems, the availability of alternative battery technologies that do not require deep sea minerals, and the reputational, regulatory, and financial risks Tesla could face by not committing to the moratorium. Tesla's peers in the auto manufacturing industry, including BMW, Polestar, Renault, Rivian, Scania, Volkswagen, and Volvo, have...Show More