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Musk Will Cut Back Doge Role To Prioritize Tesla
Business Standard
|April 24, 2025
Automaker's net income slumped 71% in Q1; market cap has nearly halved since Dec
Elon Musk vowed to pull back "significantly" from his work with the US government and pay more mind to Tesla Inc, assuaging investors concerned about the carmaker's worst quarter in years. The chief executive officer will devote "far more" of his time to Tesla starting next month, saying during an earnings call Tuesday that his work establishing the so-called Department of Government Efficiency (DOGE) will be "mostly done."
Investors and analysts have increasingly called for Musk to refocus on the electric-car company, which is struggling under the weight of slumping sales and rising costs from US President Donald Trump's trade war. Protests have sprung up in recent months in a consumer backlash against Musk's government work.
"At Tesla, we've gone through many a crisis over the years," Musk said. "This is not one of those times. We're not on the ragged edge of death, not even close."
Dit verhaal komt uit de April 24, 2025-editie van Business Standard.
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