Tesla reported disappointing earnings, partly as a result of the pushback, protests and attacks on vehicles the company is getting in response to CEO Elon Musk’s overseeing of President Trump’s DOGE unit. I.E. The Department of Government Efficiency.
On the automaker’s earnings call,
Musk defended his role in ferreting out government waste, but told investors he will soon step back.
“I do think there’s the large slug of work necessary to get the DOGE team in place and working in the government to get the financial house in order is mostly done. And I think starting probably next month, May, my time allocation to DOGE will drop significantly. I’ll have to continue doing it for, I think, probably the remainder of the President’s term, just to make sure that the waste and fraud that we stop does not come roaring back” he told investors.
“I’ll continue to spend a day or two per week on government matters for as long as the President would like me to do so and as long as it is useful. But starting next month, I’ll be allocating probably more of my time to Tesla and now that the major work of establishing the Department of Government Efficiency is done” he added.
Tesla shares rose in extended trading, chipping away at the nearly 40% drop this year.
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