Tesla CEO Elon Musk said he intends to remain CEO of the US electric vehicle (EV) company despite calls for him to step down amid sliding sales and criticism of his United States federal government role.
Speaking at the Qatar Economic Forum, Mr Musk said he intends to stay on as Tesla CEO saying the worst is over with the brand already recovered from its worst start to a calendar year in its history.
In the first three months of 2025, Tesla posted an operating income of US$399 million (A$624 million), down 66 per cent on the first quarter of 2024.
“It’s already turned around,” Mr Musk said to the forum moderator. “We’ve lost some sales on the left, but we’ve gained them on the right – we see no problem with demand.”
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He also said the success of Tesla can be measured by its stock value, not its sales figures, which he used as evidence the automaker’s difficulties have already been overcome despite well publicised declines.
“Our sales our doing very well at this point; we don’t anticipate any sales shortfall, and – you know – honestly, the stock market recognises that, we’re now back over US$1 trillion (A$1.54 trillion) in market cap, so clearly the market is aware of the situation.”
Mr Musk – who denied rumours board members had called for his ouster – was asked in Qatar if he intends to still be CEO of Tesla in five years, to which he replied with a confident: “Yes”.
He also committed to plans to spend more time on Tesla and SpaceX, where he is also CEO.
The billionaire said he will pull back on his role in politics, having made an estimated $US300 million ($465 million) contribution to Donald Trump’s 2024 federal election campaign.
“I think, in terms of political spending, I’m going to do a lot less in the future. I think I’ve done enough,” he said at the forum.
“If I see a reason to do political spending in the future, I will do it. I do not currently see a reason,” Mr Musk said.
The Trump campaign’s success saw Mr Musk appointed as a special government employee, a temporary role which is legally required to end on May 30, 2025.
Yet Mr Musk’s appointment to The White House came off the back of Tesla’s first sales fall in the brand’s history in 2024, followed by unprecedented sales slides across China, Europe, the United States, and Australia.
This saw calls for Mr Musk to step down as CEO, including an employee-led campaign which demanded he resign, given the company’s recent and – in terms of sales at least – ongoing poor performance.
Mr Musk owns around 13 per cent of Tesla, with the automaker planning to launch its robotaxi service in Austin, Texas, next month, and ‘more affordable’ models scheduled to go on sale in the US in the second half of 2025.
In Australia, Tesla rolled out the updated Model 3 – the second best-selling electric car in Australia – in 2024. A facelifted Model Y SUV followed this year.
The local arm of Tesla told CarExpert it’s not focused on its products and not on its global CEO.
