Musk Shifts Focus to Tesla Amidst Trade Talks and Share Surge
Elon Musk reduces government role, boosting Tesla shares as trade tensions ease, but profits drop 71% amid criticism of his political involvement.
Tesla’s Deadbeat CEO Is Coming Back
Mother Jones
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Straight Arrow News
Musk Makes Bombshell Decision to Step Back from DOGE
Western Journal
Tesla Q1 profit falls sharply
Boston Herald
Summary
Elon Musk announced he will significantly reduce his involvement with the Trump administration's Department of Government Efficiency, shifting back to Tesla. Despite a 71% profit drop and a 9% revenue decrease in Q1 2025, Tesla shares soared by 6%, buoyed by easing trade tensions and Musk’s renewed focus on the company. Musk described DOGE's work as nearly complete and reassured investors he would oversee the initiative until the end of Trump's term. Tesla aims to launch robotaxi services in Austin by June and develop advanced humanoid robots, despite facing significant challenges and criticism over Musk's political role.
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CNN·1M· "…The damage to the Tesla brand by Musk may be far greater than Ives and other bulls admit."
Mother Jones·1M· "…Judging by the billionaire’s compulsive inability to stop posting, coupled with China’s immense investment in the electric car market at a time when the global economic order is being rapidly upended, I wouldn’t bet that this is the company’s white knight moment."
Boston Globe·1M· "…Another challenge to Tesla, which once dominated the EV business: It is facing fierce competition for the first time."
The Guardian·1M· "…Trump placed import taxes of 145% on China, which countered with 125% tariffs on US goods, causing volatility in the stock market and concern about slowing global economic growth."
Salon·1M· "…Musk's electric vehicle brand has taken a massive hit due to his association with President Donald Trump's administration and protests against the Musk-led Department of Government Efficiency have broken out at Tesla dealerships throughout the country."
Rolling Stone·1M· "…Musk and DOGE have slashed the agency that manages Social Security, as he’s falsely criticized America’s core safety-net program as a “Ponzi scheme.”"
PBS NewsHour·1M· "…The company that once dominated EVs is also facing fierce competition for the first time."
Wired·1M· "…The drop exceeded even some pessimistic Wall Street analysts’ predictions."
The Guardian·1M· "…Tesla is at a major crossroads, analysts say, that will only be remedied if Musk leaves his role in the so-called 'department of government efficiency' and returns to Tesla as CEO full time."
CNN·1M· "…The decline is stunning for a company that until recently was reporting year-over-year sales growth of between 20% and 100% virtually every quarter, which was largely responsible for its lofty stock price that made it worth more than any other automaker in the world."
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