Elon Musk said he plans to lead Tesla for another five years.
During an interview with Bloomberg’s Qatar Economic Forum in Doha, Musk said he is still committed to being Tesla's CEO for the next five years.
Musk, who also runs SpaceX, has spent a lot of his time this year leading the White House’s Department of Government Efficiency, making investors nervous that he isn’t spending enough time with Tesla.
The company’s sales have experienced their largest drop in history, with a 13% drop over the past three months.
The drops are due to Musk’s affiliation with right-wing politics and U.S. President Donald Trump. This makes Tesla the target of vandalism and people calling for Musk to step down as CEO.
His recommitment also comes as the Wall Street Journal reported that Tesla was working on a formal process to find a new CEO amid Musk’s controversies.
Musk has adamantly disputed these claims in a post to X
“It is an EXTREMELY BAD BREACH OF ETHICS that the @WSJ would publish a DELIBERATELY FALSE ARTICLE and fail to include an unequivocal denial beforehand by the Tesla board of directors!” he said.
In April Musk told investors that he would step back from his DOGE role this month, freeing up time to run the car company.
Musk said the company’s main focuses are "long-term autonomy" and Optimus, Tesla’s planned humanoid robot still under development. He also said he was confident that robotaxis will be popular in the next five years.
At the time of writing, the Tesla Inc (NASDAQ: TSLA) stock price was US$343.82, up $1.73 (0.51%) today. After hours, it traded at $344.08, up $0.26 (0.076%). Its market cap is around $1.08 trillion.
