Tesla started searching for the new CEO, where a pivotal moment of the giant of electric vehicles was set as it wrestled with a sharp shrinkage in profits, decreased sales, and a violent decline in the controversial ELON Musk involvement in politics.
The move comes after weeks of investor disturbances and a 71 % decreased decrease in profits in the first quarter, with a decrease in profits to $ 409 million, a decrease from $ 1.4 billion in the previous year. Tesla shares have decreased nearly 40 % since January, although some recovery followed the profit announcement.
According to the Wall Street Journal, the company’s board of directors began exploring the Caliphate, the CEO earlier this year, as it held concerns about the dual role of Musk as President of Tesla and his political appointment to the leadership of the Ministry of Government efficiency (DOGE) during the era of President Trump. According to what was reported, the research began without prior knowledge.
At the request of the Council, Musk announced plans to retract its political role that begins in May and devoting “much more than my time to Tesla.” Speaking during the Tesla profit call, Musk admitted that his invasion in Washington had received the brand and the stock price for the company.
He said: “starting next month, the allocation of my time in Dog will drop significantly,” while he admitted that he still intends to contribute one or two days a week.
The pressure on Musk has intensified with the increasing disappointment by its compatibility with the policy of the extreme right and its explicit support for Trump and other populist leaders.
The protests in Tesla agents have become increasingly clear. A campaign at the popular base, Tesla Takedown, won a symbolic victory in the wake of the company’s bad results.
The group said: “Today’s profit report sends a very clear message: The pressure at the level of the popular base began to hit Tesla where it hurts – the final result of the company.”
While Tesla is still the best -selling brand in the United States, analysts warn that its progress is shrinking with competitors’ more competitive models. BYD, Rivian, Hyundai and GM are all EVS, which excels over the price, scale, or shipping.
In the profit statement, Tesla blamed Trump’s commercially aggressive policies and a volatile global supply chain to disrupt the cost structure. The presidential mutual definitions of the president, including the imposition of 145 % on Chinese imports, have rocked the auto industry.
Despite the turmoil, Tesla presses plans for a new electric car with reasonable prices that are launched in early 2025. It also shed light on the continuous development of robots and independent driving technology as part of its long -term vision. However, he warned that cost savings for $ 25,000, which she first promised in 2020 would be “less than expected.”
Since Tesla begins to search for a possible MUSK successor, the company is also seeking to appoint an independent manager to help stabilize the ruling amid the escalating scrutiny.
Trump, who praised Musk this week because of his work in Dog that the CEO might want to “return home for his cars.” Al -Fadl Musk, in turn, is the president to support him, but he admitted that the political lights had created the opposite winds of Tesla.
With the attention of the CEO now promised to return-the brand once in the flow-facing Tesla a specific crossroads. Investors and clients will closely monitor to see if the company can restore focus and reaffirm its dominance in the EV market increasingly crowded.
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