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The Independent UK
The Independent UK
National
Michelle Del Rey

Elon Musk is stepping back from DOGE. Here’s why

Elon Musk DOGE Tesla Inc. Donald Trump
  • Tesla CEO Elon Musk announced he will reduce his role at the United States Department of Government Efficiency (DOGE) to focus on his electric car company Tesla.
  • The company reported disappointing Q1 earnings, missing revenue and earnings per share estimates, with net income down 71 per cent.
  • The company faces negative public sentiment, violent attacks on its vehicles, and declining sales amid controversy surrounding Musk's role in DOGE and President Donald Trump's trade policies.
  • Tesla's plan to launch an affordable electric vehicle has been delayed, and the company is facing challenges in the Chinese market due to tariffs.
  • Mr Musk says he remains optimistic about Tesla's long-term prospects, citing its AI and robotics ambitions, despite the current difficulties.

IN FULL

Musk says he will step back from Trump’s DOGE as Tesla reports dismal earnings

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