Elon Musk changes priorities. Will devote himself to Tesla at the expense of working in the government
Musk announced his decision during a teleconference with Tesla investors summarizing the company's financial results in the first quarter. The billionaire announced that his work as an informal head of the team to fight unnecessary expenses and slim down the bureaucracy is “mostly finished” and announced that from May he would devote work for dog “perhaps one or two days a week, as long as this work will be useful and as long as the president will want him.”
Musk announced that henceforth will focus mainly on managing Tesla, who is struggling with more and more problems. In the first quarter, the company generated $ 409 million, i.e. 71 percent. The lower profit compared to the same period of 2024. The company's profit was worse than expected and, as the New York Times records, Tesla would record a loss of over half a billion dollars, if not for its interest revenues from interest from financial resources (including cryptocurrencies) and the sale of coal loans to other companies.
Musk hit the activists
The company's poor results are the result of, among others rapidly falling demand for Tesla cars, which is associated with both competition from Chinese electric car manufacturers and the declining image of a company related to the political activity of its owner.
Musk admitted that for this reason a little criticism fell on him, but claimed that activists protesting against his company were “paid”.
The billionaire also said that he advised the president lower duties, but said that Tesla was less exposed to their effects, despite the fact that the company's largest factory was in Shanghai, and Reuters reported to suspend the supply of some parts from China.
– I have said many times that I think the lower duties are generally a good idea for prosperity. But this decision essentially depends on the selected representative of the people, including the President of the United States. I will continue to be in favor of lower tariffs, not higher, but that's all I can do, “he said.
