Overview

• Elon Musk will cut his government advisory role to one or two days a week starting in May, prioritizing Tesla's recovery efforts.
• Tesla reported a 71% drop in Q1 net profit to $409 million, alongside a 9% revenue decline and a 13% fall in vehicle deliveries.
• The company plans to begin production of lower-cost model variants in the first half of 2025 and aims to launch a robotaxi program by 2026.
• Analysts suggest Musk's political activities and association with Trump have damaged Tesla's brand, potentially reducing demand by up to 20%.
• Musk's announcement has provided a slight boost to Tesla's stock, but experts warn that the company faces significant operational and reputational challenges ahead.