Posted: Thursday, May 29, 2025. 9:47 am CST.
By Zoila Palma: Tesla CEO Elon Musk has announced his departure from the Trump administration’s cost-cutting initiative, DOGE, signaling a renewed focus on Tesla amid investor concerns over his divided attention.
The move comes just days after Musk said he would concentrate more on the EV maker’s operations, Investopedia reports.
“As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,” Musk wrote on X. “The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.”
Tesla shares rose 1% in Thursday’s premarket trading, buoyed not only by Musk’s return to Tesla but also by a federal court ruling that President Trump lacked authority to impose tariffs.
The stock, however, remains down over 10% for the year amid soft sales in Europe and China.
Wedbush analysts called Musk’s exit from DOGE “music to the ears of Tesla shareholders,” adding it marks a key moment as Musk turns his full attention to Tesla’s upcoming initiatives, including the June 12 launch of its robotaxi program in Austin, Texas.
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The post International News: Elon Musk exits Trump’s DOGE program, refocuses on Tesla appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Thursday, May 29, 2025. 9:47 am CST. By Zoila Palma: Tesla CEO Elon Musk has announced his departure from the Trump administration’s cost-cutting initiative, DOGE,
The post International News: Elon Musk exits Trump’s DOGE program, refocuses on Tesla appeared first on Belize News and Opinion on www.breakingbelizenews.com.
