Tesla CEO Elon Musk has announced plans to significantly scale back his involvement with former US President Donald Trump, limiting his role to just one or two days per week starting next month.
The decision comes amid growing public backlash and investor concerns over Musk’s aggressive cost-cutting strategies and political involvement.
Musk’s current 130-day tenure as a special government employee under the Trump administration is set to expire at the end of May.
Following Tesla’s recent earnings report, which exceeded Wall Street’s low expectations, Musk shared with investors that his commitment to managing governmental efficiency will decrease significantly beginning in May.
Tesla has experienced a turbulent few months, marked by a sharp decline in electric vehicle deliveries, public protests over Musk’s political activities, and a steep drop in Tesla’s stock value, which has nearly halved since its December peak.
These challenges have led many investors to call on Musk to step away from his advisory role with Trump and refocus on leading Tesla.
According to Musk, the core work related to establishing a government efficiency management unit, aimed at reducing operational costs, has been completed.
The shift in priorities is expected to help reassure stakeholders who have been urging stronger executive oversight at Tesla.
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