Tesla could use more of high-profile CEO Elon Musk's divided focus at a critical juncture for the electric vehicle industry, former board member Steve Westly said Thursday.
Recent sagas around staff layoffs and Musk's pay have added to the mounting distractions facing the serial entrepreneur, Westly told CNBC.could use more of high-profile CEO Elon Musk's divided focus at a critical juncture for the electric vehicle industry, former board member Steve Westly said Thursday."For any CEO of any of the top companies in the world, you need to be laser-focused on what you're doing. And it appears now that Mr.
Westly said Musk's waning focus was part of the reason why Tesla was lagging behind its"Magnificent Seven" counterparts, and noted that Musk would be wise to follow the leadership example of tech darling"If you look at people like Jensen Huang — who is arguably the greatest CEO in the world right now, continuing to bang out superior results — focus is the key.
Recent sagas around staff layoffs and Musk's pay have added to the mounting distractions facing the serial entrepreneur, with a recent revenue miss suggesting the company has"lost ground," he added.Despite this, he flagged Tesla's ability to bring new products in an increasingly competitive market, noting that a newly announced $25,000 low-cost Tesla model could arrive by early 2025.CNBC has reached out to Tesla for comment.
Tesla's slowdown comes at a critical moment for the electric car industry, amid increased competition and a growing trade dispute between Washington and Beijing over perceived Chinese subsidies. Last week, U.S. President Joe Biden slapped freshon Chinese electric vehicles, starting this year, in a move he said was to prevent China"dumping" cheap products into the market.Alibaba bets on AI to fuel cloud growth as it expands globally to catch up with U.S.
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