(Adnkronos) – Tesla’s chief, Elon Musk, has stated that he will reduce his role in the Donald Trump administration after the company’s profits and revenues plummeted in the first three months of the year. Yesterday Tesla reported a 20% drop in automotive revenues in the first quarter of 2025, compared to the same period last year, while profits fell by more than 70%. The company warned investors that the critical situation could continue, refusing to provide growth forecasts and stating that “changing political sentiment” could significantly hurt demand.
The recent decline in the company’s fortunes has come at a time when protests have erupted over Musk’s role in the new Trump administration, which, as he himself has acknowledged, has taken his focus away from the company. Musk has stated that his “time dedicated to Doge will decrease significantly” starting next month. He will dedicate, he said, only one or two days a week to government matters “as long as the president wants it and as long as it is useful”.
