In a brutal reaction to Elon Musk’s latest political bombshell—the launch of his own political party—investors wiped nearly $70 billion off Tesla’s market capitalization in a single trading session on Monday. Even though Google’s Waymo is the established leader in autonomous driving, Musk’s announcement of a Tesla robotaxi service—launched with much fanfare on June 22—had analysts immediately predicting Tesla’s dominance. After spending a reported sum of nearly $290 million to help Donald Trump return to the White House, Musk’s role as the head of the administration’s “Department of Government Efficiency” (DOGE) and his subsequent, spectacular fallout with the President have put Tesla in the political crosshairs.
Author: Luc Olinga
Published at: 2025-07-07 21:13:43
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