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Elon Musk’s plan for saving Tesla is blowing up faster than a SpaceX rocket.
It was supposed to go like this: Musk, who became a chainsaw-wielding MAGA acolyte, would ditch the DC sideshow and get back to business. His empire was flailing without him, and Tesla, especially, was in a tailspin. Investors were clamoring for that old Musk magic to revive sales and pivot the electric vehicle company into an AI juggernaut worthy of its (still lofty) share price.
Turns out, you can take the CEO out of DC but you can’t take the DC out of the CEO.
Tesla (TSLA) is expected to report yet another quarter of declining global sales on Wednesday, a not-unexpected stumble after months of falling revenue thanks to increased competition in the EV market and no small amount of reputational damage stemming from Musk’s role as President Trump’s “first buddy.”