Tesla shareholders endorsed a massive pay package for CEO Elon Musk on Thursday at the company's factory in Austin. Cheers of 'Elon' broke out after the vote result was announced, though the activist group Tesla Takedown noted the the company's drop in auto sales, arguing: 'Elon Musk just got $1 trillion for failure.'

The car-maker is lobbying fiercely for the pay package, which is being voted on ahead of its AGM on Thursday.

Tesla has faced mounting challenges this year, with global sales declining and investor confidence wavering.