The News
Tesla CEO Elon Musk said Tuesday he will pull back from his role as a White House adviser, after the electric vehicle company posted a 39% decline in profit.
Musk said on a Tesla earnings call that his time working with his Department of Government Efficiency will drop starting next month.
Consumers globally have soured on Musk’s politics and proximity to President Donald Trump; the company acknowledged Tuesday that “changing political sentiment” had hurt demand, and Musk has come under pressure from investors to return his attention to Tesla.
Still, with the lower-than-expected revenue figures, Tesla could suffer a “throwaway year,” one analyst warned.
The company also said it would revisit its growth outlook, citing “shifting global trade policy.”