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Apr 22nd, 2025, 6:36 PM ET·Business

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.


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Summary

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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.

Sources (33)

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Tesla’s Deadbeat CEO Is Coming Back
Mother JonesMother Jones·1M·
Left
This outlet favors left-wing views.

"…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."

"Day or two per week": Musk promises decreased time at DOGE as Tesla profits plummet
SalonSalon·1M·
Left
This outlet favors left-wing views.

"…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."

Elon Musk Complains About 'Paid' Protests on Call About Tesla's Poor Earnings
Rolling StoneRolling Stone·1M·
Left
This outlet favors left-wing views.

"…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.”"

The Pressure Is on for Tesla's Cybercab
WiredWired·1M·
Leans Left
This outlet slightly leans left.

"…The drop exceeded even some pessimistic Wall Street analysts’ predictions."

Elon Musk to pull back in Doge role starting May amid 71% dip in Tesla profits
The GuardianThe Guardian·1M·
Leans Left
This outlet slightly leans left.

"…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."

Tesla profits plunge as Trump’s trade war and Musk alliance cloud its future | Business
CNNCNN·1M·
Leans Left
This outlet slightly leans left.

"…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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Musk Shifts Focus to Tesla Amidst Trade Talks and Share Surge - Pano News