Elon Musk He announced that he will drastically reduce his participation in the United States government, in his role as head of the Department of Government Efficiency (Doge), promoted by Donald Trump’s administration.
According to the BBCthe decision was confirmed by the tycoon during a presentation of results with Tesla investors and arrives after the collapse of the company’s profits, which reported its worst quarterly performance since the late 2020.
“As of May, my time dedicated to Doge will decrease significantly,” Musk said to shareholders.
The automotive company faces a complicated moment: in the first quarter of the year, Tesla reported only $ 409 million in profits, a figure that represents a 71%drop, compared to the same period last year.
The income was also reduced by almost 20%, reaching $ 14,000 million, while total sales dropped 9%, standing at $ 19.3 billion.
Among the factors that explain this collapse is the update of production lines in its factories, as well as the lowest sales prices.
-But Musk’s public positions, his link with Trump and his role as figure inside the cabinet also played an important role.
Elon Musk said that much of the “hard work” of Doge is already made: “The large volume of work to start the team and clean up the government’s finances is practically finished.”
“I will have to continue involved, at least until the end of the year, to prevent waste and fraud from returning,” he added.
For its part, Trump’s aggressive tariff posture put Tesla in a complicated situation. Although all its vehicles sold in the United States are assembled locally, the global supply chain – especially its batteries components from China – makes it vulnerable to additional taxes.
That is why and for the wear of his image, it seems that Elon Musk wants, at least for now, to get away from the administration of Donald Trump.
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