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News| | Publish on Wed, 04/23/2025 - 00:34

As Tesla profits plunge 71%, Elon Musk says he'll spend less time on DOGE

Elon Musk says he'll cut back his work with the federal government to one to two days per week. He said demand for Teslas is still strong, despite protests and plunging sales.

As Tesla profits plunge 71%, Elon Musk says he'll spend less time on DOGE

It seems that Tesla is facing some challenges, with declining sales and profits, as well as negative publicity surrounding CEO Elon Musk's political work. However, Musk remains confident in the company's long-term profitability, focusing on the potential of robotaxis and autonomous robots rather than just selling cars. Investors are eager to see Musk refocus his attention on Tesla and its business, rather than his work with the federal government and DOGE. Musk has indicated that he will spend less time on government work, but he is not completely stepping away from it. Despite the challenges, Tesla still holds a significant portion of the EV market in the U.S., although its share is decreasing. Competition from Chinese manufacturers is also growing, posing a potential threat to Tesla's dominance. Overall, Tesla's future remains uncertain, but Musk's confidence in the company's technology and potential for success suggests that it may still have a bright future ahead.

Author Name: Camila Domonoske

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