Tesla (TSLA) CEO Elon Musk convened a surprise all-hands meeting on Thursday night, aiming to update employees on key product milestones while addressing growing concerns about his leadership and the company’s declining performance.
Tesla shares have sharply declined in 2024, driven by weakening sales in major markets such as Europe, China, and even the U.S. While the transition to the new Model Y SUV has contributed to the slowdown, many critics point to Musk’s political affiliations — including his support for former President Trump and far-right figures in Europe — as damaging the company’s global brand image. Protests at Tesla showrooms and acts of vandalism against its vehicles have been on the rise both domestically and internationally.
During the meeting, Musk shared notable company updates, including surpassing 7 million EVs produced and progress on the new Model Y. But he also confronted the controversy directly, acknowledging that Tesla’s brand is under pressure due to his political involvement and his recent appointment to lead the Department of Government Efficiency (DOGE) under Trump’s administration.
“If you watch the news, it feels like the world is ending. I see headlines about Teslas burning every time I walk by a screen,” Musk said, referencing escalating acts of arson and vandalism targeting Tesla vehicles and charging stations. “I understand not everyone wants to buy a Tesla, but setting them on fire is a bit extreme.”
Both Musk and Attorney General Pam Bondi have condemned the attacks as domestic terrorism, vowing that the perpetrators would face swift consequences.
Despite the controversies, Musk struck an optimistic tone about Tesla’s future. He encouraged employees to stay invested, reaffirming his vision for autonomous driving.
“Within five years, we expect global regulatory approval for autonomous driving,” he said. “By then, Teslas — over 10 million strong — will be driving themselves across every continent. The future is bright.”
Musk continues to bet heavily on robotaxis and full self-driving technology as the cornerstone of Tesla’s next phase of growth. However, the company still faces regulatory hurdles — such as a recently issued preliminary permit from California allowing limited ride-hailing tests with human drivers and only Tesla employees.