Tesla CEO Elon Musk challenges

Tesla CEO Elon Musk challenges

Tesla CEO Elon Musk

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has defended his leadership role within the electric vehicle (EV) company, citing data as evidence. This response comes after a social media user shared a Reuters graphic comparing EV sales in the U.S. for the first half of 2023, highlighting Tesla’s dominance.

What Happened: Musk responded to the criticism by stating, “Sometimes they question if I should even run Tesla. My response is simply which CEO on that list would you prefer?”

The graphic showcased Tesla’s remarkable sales performance in the first six months of this year, outselling its 19 closest competitors, including FordRivianVolkswagen, and BMW. Tesla achieved an impressive 325,291 vehicle sales, leaving General Motors Co’s Chevrolet a distant second with 34,943 electric vehicles sold.

Why It Matters: Musk’s defense is noteworthy considering his previous role as Twitter CEO, which he relinquished earlier this year due to concerns about divided attention between Twitter and Tesla. In December, Musk conducted a Twitter poll, with 57% of respondents favoring his departure from Twitter.

In April, Tesla officially appointed Tom Zhu as the head of its automotive division, marking a key development amid ongoing debates about Musk’s roles in various companies.

In an open letter to Tesla’s board of directors in April, shareholders expressed concerns about Musk’s divided focus on ventures like Twitter, which he later purchased and renamed X. However, Jon McNeill, a former president of Tesla, defended Musk, highlighting his deep involvement in Tesla’s earnings calls and the company’s continued growth.

In May, a Tesla analyst left the company’s annual shareholder meeting with increased confidence in Musk’s renewed focus on Tesla.

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