Tesla’s profits plummeted 16% over a three-month period as the electric carmaker faces increased competition in the EV industry. The company’s struggles coincided with Elon Musk’s outspoken presence on social media and his stint in the White House.
Musk, who is the world’s richest person, drew attention due to his social media presence and his role in the White House. Experts acknowledged that Musk pushed Tesla into potential growth areas like humanoid robots and self-driving taxis, but also pointed out that the company’s difficulties in fending off other EV makers and delayed product releases are partly his fault.
The experts cited losses suffered as a result of some Trump policies, which Musk struggled to mitigate while serving in the administration. Despite this, Musk remains optimistic about Tesla’s future, predicting that humanoid robots and driverless taxis will make the company “the most valuable company in the world by far.”
However, some analysts believe that Musk’s leadership style and focus on new products may have contributed to the company’s struggles. They pointed out that Tesla has been slow to release an affordable EV model, which is a key area of competition for the company.
The ultimate outcome for Tesla’s forthcoming products remains unclear, but experts have given Musk the benefit of the doubt due to his innovative approach and vision.
Source: https://abcnews.go.com/Business/elon-musk-blame-teslas-struggles-experts-weigh/story?id=124039268