Elon Musk has said that he would spend less time working for the US administration’s Department of Government Efficiency, or DOGE, lifting hopes Tesla’s divisive co-founder would devote more time to the EV maker and tech firm.
He is reportedly set to leave his government role because he’s tired of the what he sees as a litany of vicious and unethical attacks from the left, according to a report from The Washington Post.
He acknowledged public criticism and vandalism of Tesla showrooms in response to DOGE’s aggressive cost cutting efforts, but dismissed suggestions his involvement had affected the group’s performance.
Musk says from next month he will only work a day or two per week for President Donald Trump.
Brand damage
Analysts at Wedbush wrote: ‘The brand damage caused by Musk in the White House/DOGE over the past few months will not go away just by this move and some of the damage will be stained forever in Europe and the US.
‘But this was the time to close one dark chapter and open a brighter one for the Tesla story with autonomous and robotics front and centre.
‘There are still headwinds, tariffs, and clear growth challenges for Tesla over the coming year….but Musk recommitting as CEO as Tesla and basically leaving his DOGE role over the next month is the biggest and best possible news Tesla investors could have heard last night.
‘Some of the brand damage will slowly go away…but importantly Tesla got back its biggest asset….Musk.’
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Related: Elon Musk earns Putin’s praise – but his support for Trump really raises eyebrows
