Elon Musk Plans To Focus on Tesla Following 71% Profit Drop, Says ‘My Time Allocation to DOGE Will Drop Significantly’
Elon Musk plans to reduce government work next month to focus on Tesla, following a 71% drop in the company’s quarterly net income.
Elon Musk has announced plans to scale back his involvement with the US government to concentrate more on Tesla, his electric vehicle (EV) company. Speaking about his decision on the investors call, Musk mentioned, “The large slug of work necessary to get the DOGE team in place is mostly done, and I think, starting probably next month, my time allocation to DOGE will drop significantly.” He added that starting from next month, he will start cutting down his time on government matters and shift his focus back to the EV business. The change comes at a time when Tesla reported USD 409 million in net income and USD 19.3 billion in revenue for the first quarter of the year after delivering around 3,37,000 EVs. As per reports, the company’s net income reflects a 71% drop from the same quarter last year. Musk said he would still spend a day or two each week on government tasks as needed or as long as President Donald Trump requires his input. Elon Musk To Quit DOGE? On Investors Call, US Billionaire Decides To Spend More Time at Tesla by Reducing Time Spent on DOGE, Clarifies ‘Not Stepping Down’.
Elon Musk Says ‘My Time Allocation to DOGE Will Drop Significantly’
🚨 ELON MUSK: "The large slug of work necessary to get the DOGE team in place is mostly done, and I think, starting probably next month, my time allocation to DOGE will drop significantly.
I'll have to continue DOGE for I think we've laid the remainder of the President's term… pic.twitter.com/h6kLyvX8uS
— DogeDesigner (@cb_doge) April 22, 2025
Tesla’s Quarterly Earnings Fell by 71% Compared to the First Quarter of Last Year
BREAKING: Tesla’s quarterly earnings fell by 71% compared to the first quarter of last year
— The Spectator Index (@spectatorindex) April 22, 2025
(The above story first appeared on LatestLY on Apr 23, 2025 08:15 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
