Tesla is facing a growing investor revolt over plans to reinstate Elon Musk’s $56bn (£44bn) executive pay deal.

A second major shareholder adviser, ISS, urged Tesla stockholders to reject Mr Musk’s pay award, calling it “excessive”.

The pay deal, the largest in US history, was originally awarded in 2018 but declared unlawful by a US court earlier this year. 

However, Tesla’s board has taken the decision back to shareholders, offering another vote on the award at Tesla’s upcoming annual general meeting on June 13.

But the company is facing a major backlash, with major proxy advisers Glass Lewis and ISS both telling shareholders to reject the deal as Tesla’s sales slump. 

Mr Musk has lashed out at investors critical of the pay offer, accusing one major US fund of being “oathbreakers”.

Read the latest updates below.