Elon Musk Reduces Government Efforts as Tesla Faces Revenue Decline
(MENAFN) Tesla CEO Elon Musk announced during the company's earnings call on Tuesday that he will be reducing his involvement with the Department of Government Efficiency starting in May.
Musk revealed plans to "significantly" cut back on his management role within the department, though he will still dedicate "a day or two per week" to address government matters and ensure that efforts to curb waste and fraud are sustained.
Tesla's quarterly financial results, also released Tuesday, showed a 9% year-on-year drop in revenue, with automotive revenue falling by 20%.
Earlier, Musk had mentioned that his responsibilities with the department were stretching him too thin, raising doubts about his ability to effectively lead Tesla.
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