After falling stocks and reducing 71% of the electric automaker, the entrepreneur says he will devote less time to Donald Trump’s government
Businessman Elon Musk announced last Wednesday (23) that he will reduce his involvement with the government of Donald Trump us United States. During a teleconference, Musk, who became a significant employee from the US president, revealed that he will diminish his dedication to Trump’s office to cut federal spending. This change is scheduled to occur next month, allowing musk to focus more on Teslaits main source of wealth. He justified his decision by stating that the crucial work Trump entrusted to him was largely completed.
Declaration of Musk Coincides with Tesla’s unsatisfactory financial results in the first quarter of the year. The electric automaker registered a $ 409 million profit, representing a 71% drop over the same period last year. Revenues also were below market expectations, totaling $ 19.3 billion, while the forecast was $ 21.3 billion. Musk mentioned that the demand for cars is being impacted by “changes in political feeling.” In response to the results, Tesla reaffirmed its plans to launch new accessible vehicles by 2025 and start large -scale robotaxis production in 2026.
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Tesla also highlighted the challenges faced due to uncertainty in automotive and energy markets, aggravated by rapidly evolving trade policies that affect the global supply chain. In a statement, the company announced the reduction of its investment forecast for this year, now estimated by $ 10 billion, below more than 11 billion dollars previously released. This caution reflects the uncertain macroeconomic environment, influenced by the global trade war promoted by the Trump government.
*With information from Bruno Meyer
*Report produced with the aid of AI
Source: Jovempan
I have been working as a journalist for over 10 years. In that time, I have covered the news from all corners of the world, and written about everything from politics to business.I’m now a full-time author, and my work can be found at Global happenings. My aim is to bring you up-to-date news and views on global affairs, in a format that is easy to read and understand.
