Tesla is facing a challenging period as its profits have dropped by a staggering 71%, sparking concerns among investors and the public. Alongside financial pressures, the company is also dealing with backlash over CEO Elon Musk’s political affiliations, which have led to protests and boycotts in recent weeks.
According to a report by The Wall Street Journal, Tesla’s board members began early discussions several weeks ago about potential leadership succession. The report suggests that concerns over Musk’s growing political involvement and distractions from Tesla’s core business prompted the talks.
However, Elon Musk has strongly denied these claims, calling the report “false.” He stated that he will now shift his focus back to Tesla after completing his recent work with the U.S. Department of Government Efficiency.
The company is also battling increasing global competition in the electric vehicle (EV) market, particularly from Chinese manufacturers and traditional automakers expanding into EVs.
As Tesla navigates this turbulent time, all eyes remain on Musk and how the company will address falling profits, public image challenges, and future leadership plans.
