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From Politico: Elon Musk said on an earnings call Tuesday that he plans to devote more of his attention to running his electric vehicle company Tesla, which reported a stark drop in sales and revenues for the first quarter of the year, amid pervasive concerns about the impacts of tariffs and Musk’s own role in reshaping the government.
Tesla’s total revenue from car sales dipped 20 percent and net income fell an astonishing 71 percent during the first quarter of 2025, the company announced Tuesday.
On an earnings call with investors, Musk said “starting next month i will be allocating more of my time to Tesla” and that he will “continue to spend a day or two on government matters” as long as President Donald Trump wants.
Musk didn’t directly address any implications about whether his involvement with spearheading steep cuts to the federal workforce and deploying his DOGE data teams throughout the government impacted his company’s sales or his decision to step back from his role with DOGE — though he said “there’s been some blowback for the time that I’ve been spending in government” with DOGE.
Defending his work on the DOGE project, Musk reportedly told investors that the effort has “made a lot of progress in addressing waste and fraud,” which was necessary to “try to get the country back on the right track.”
“And working together with President Trump and his administration — because a further shift, if America goes down, we all go down with it, including Tesla and everyone else,” Musk warned.
Musk stepping back from government work amid plummeting Tesla sales https://t.co/0zaYYyhxNN
— POLITICO (@politico) April 22, 2025
According to a Bloomberg report: The treasurers of eight US states have written an open letter to Tesla Inc.’s board of directors questioning the direction of the company and the level of attention Elon Musk is paying to its mounting challenges.
The overseers of funds and investments for California, Illinois and half a dozen other states cite Tesla’s sagging stock, disappointing first-quarter deliveries and surge of trade-ins by vehicle owners as being among their causes for concern.
“Meanwhile, CEO Elon Musk continues to divide his attention across multiple companies and a high-profile advisory role within the federal government,” the treasurers wrote. “These external commitments raise serious questions about whether Tesla’s leadership is fully engaged in addressing the company’s core challenges.”
Musk commented on the report, stating, “This is a political attack.”
This is a political attack
— Elon Musk (@elonmusk) April 22, 2025
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