The Wall Street Journal reported today (May 21st): "After investing heavily in the 2024 U.S. election, Musk said he is now focusing on consolidating control over Tesla. Investors are increasingly concerned that he has been distracted, and during his term at the White House, both Tesla's sales and stock prices have declined."
[Wit] Comment: Musk reducing his involvement in politics is just a temporary measure; he needs to protect Tesla's lifeline. Last year, he spent $250 million to $300 million supporting Trump's campaign. As a result of Trump's policies after taking office and Musk's choices, Tesla's sales plummeted by 13%, and its first-quarter profit fell by 71%. Democratic supporters were outraged and launched an "uninstall Tesla" protest activity, boycotting Tesla products. Musk once ridiculed Chinese electric vehicle manufacturer BYD, but last year BYD's global sales quietly surpassed Tesla, and it has been vigorously building new factories around the world. In March this year, BYD's market value even exceeded the total of Ford, General Motors, and Volkswagen. Now, Musk has no choice but to devote more time and energy back to Tesla to reverse its decline.
Original article: https://www.toutiao.com/article/1832694899458056/
Disclaimer: The article only represents the author's personal views.