Tesla's first-quarter performance plummeted, and Musk said he would significantly reduce government work
Hawk News
2025-04-24 12:08:30
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On April 22, local time, Tesla CEO Elon Musk said he plans to significantly reduce his work for the Trump administration in May to focus on Tesla.
It is reported that Tesla announced a first-quarter net income of $409 million that day, a 71% drop from the same period last year. Analysts warned that Musk's work for the "Government Efficiency Department" on behalf of Trump could damage its brand image.
Musk pointed out that tariffs will be very difficult for companies when profit margins are still low. Musk expressed support for lower tariffs and will continue to advocate for tariff cuts.
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