Elon Musk’s X is subtly hurting Tesla
Tesla, Elon Musk’s nearly $800 billion electric vehicle company, has been humming along. The stock has doubled in value this year, even as Musk has invited controversy and an advertiser exodus over his actions and remarks tied to the platform X, formerly Twitter.
But broadly, Tesla faces a challenging mix of obstacles, from intensifying competition as legacy carmakers scramble for EV market share to uncertain EV demand and lingering concerns about charging infrastructure. Margins are declining. Regulators are also scrutinizing claims of self-driving capabilities and the range of electrified vehicles.
How, then, can a CEO effectively lead a company through such turbulence while spending significant mindshare on a separate, flailing business?
“What good is X doing Tesla?” said David Trainer, CEO of New Constructs, an investment research firm. “He hired…
