Musk, Tesla and Trump
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Tesla investors sent a letter to the company's board chair demanding Elon Musk returns to work as tech billionaire steps away from Washington.
A group of Tesla shareholders said they feared Elon Musk's car maker was being impacted by "long-term damage."
Catching up to Waymo won't be easy because it has partnered with Uber Technologies, which operates the world's largest ride-hailing network with 170 million monthly users. It could take Tesla years to achieve that level of scale, especially if it builds its own mobility network from scratch.
Elon Musk's influence at the White House appeared to wane amid complaints from cabinet members about his approach. He also faced pressure from shareholders worried that his political role was becoming a liability for his companies.
Tesla’s stock is rallying as investors cheer a return of Elon Musk as a full-time CEO, and is fast approaching a key chart level that if cleared could target a return to record levels.
In a letter, some skeptical backers of the EV company have also asked its board to add a “new, truly independent” member and lay out a succession plan.
Elon Musk may have stepped away from his duties as the lead of the Department of Government Efficiency and adviser to President Trump, but he’s still active in D.C. circles. This time, he’s on the other side, lobbying lawmakers on legislation related to autonomous vehicles, according to a report by Bloomberg that cited unnamed sources.
Tesla shares slid Friday, but posted gains for the week and second straight month as CEO Elon Musk steps back from his role leading the cost-cutting Department of Government Efficiency.