Tesla CEO Elon Musk held an impromptu all-hands meeting on Thursday night, addressing concerns over the company’s declining stock price and protests at its showrooms. The meeting came after a tumultuous year for Tesla, marked by sales slipping in key regions like Europe and China, as well as vandalism of its electric vehicles.
Musk acknowledged the backlash against his involvement in politics and leadership of President Trump’s Department of Government Efficiency (DOGE) initiative. However, he insisted that the news is “good” for Tesla and urged investors to hold on to their stock, citing the company’s future growth prospects.
One key area driving this growth is autonomous driving technology. Musk revealed plans to begin ride-hailing testing with a driver in California next year, and production of the Cybercab robotaxi, slated for 2026. He also discussed the development of the Optimus humanoid robot, which will be available for sale in 2026.
Despite the challenges facing Tesla, Wall Street bulls are relieved to see Musk back at the helm. Analyst Dan Ives noted that addressing these issues is crucial to maintaining the company’s brand reputation. With a strong vision for the future, Musk seems determined to steer Tesla towards brighter days ahead.
Source: https://finance.yahoo.com/news/teslas-elon-musk-holds-surprise-all-hands-meeting-to-assuage-employees-and-investors-143825245.html