The former board member says Tesla could take more advantage of Elon Musk’s focus
Elon Musk, co-founder of Tesla and SpaceX and owner of X Holdings Corp., speaks at the Milken Institute Global Conference at the Beverly Hilton Hotel, on May 6, 2024 in Beverly Hills, California.
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Tesla Former board member Steve Westly said Thursday that more of famous CEO Elon Musk’s divided focus could be used at a critical time for the electric vehicle industry.
“For any CEO of any leading company in the world, you need to be laser-focused on what you are doing,” Westly told CNBC at the annual event. And it seems like Mr. Musk is focusing on too many areas now.” VivaTech conference in Paris.
Westly said Musk’s waning focus is part of the reason Tesla is falling behind its “Magnificent Seven” rivals and noted that Musk would be wise to follow the tech-lover’s leadership example . Nvidia.
“If you look at people like Jensen Huang – who is arguably the greatest CEO in the world today and continues to achieve outstanding results – the focus is the key. Tesla could use it more.” venture capital firm The Westly Group and an early Tesla investor.
Recent stories surrounding layoffs and Musk’s salary have added to the distractions the serial entrepreneur faces, with a recent decline in revenue suggesting the company has “lost its footing.” stand,” he added.
However, Westly said the extent of Musk’s liability to Tesla is “determined by the board of directors.”
Even so, he flagged Tesla’s ability to bring new products into an increasingly competitive market, noting that the newly announced low-cost $25,000 Tesla model could launch in early 2025.
“Don’t bet on the guy [Musk]he has a pretty good track record,” Westly said.
CNBC has reached out to Tesla for comment.
Tesla disappointed investors last month with its biggest campaign yet Quarterly revenue decline since 2012, adding to the negative news for the company after more announcements Sale 10% in number of employees.
Meanwhile, Musk’s concurrent commitments to many of his other ventures, including SpaceX, X, Neuralink and The Boring Company, have sparked controversy over the value of the business. Tesla is worth $56 billion paid package.
Tesla’s slowdown comes at a critical time for the electric car industry, amid rising competition and a growing trade dispute between Washington and Beijing over Chinese subsidies . Last week, US President Joe Biden slapped fresh 100% tariff on Chinese electric vehicles, starting this year, in a move he said was aimed at preventing China from “dumping” cheap products into the market.
