Politics and Government
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Politics and Government
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Elon Musk took a chainsaw to the US government. Tesla is taking the hit.


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Published in Politics and Government on by TechCrunch   Print publication without navigation

Elon Musk has long been credited with turning Tesla into a beacon of innovation, the visionary who pushed the world into an era of electrification. But

Elon Musk's aggressive cost-cutting measures at Tesla, likened to taking a "chainsaw" to the company, have led to significant layoffs and a subsequent drop in vehicle quality, causing Tesla to face increased scrutiny from U.S. government agencies. The National Highway Traffic Safety Administration (NHTSA) has been investigating Tesla's vehicles due to issues like steering problems and suspension failures, while the company also faces probes from the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) over its self-driving technology claims. These regulatory challenges, combined with a reported decline in vehicle quality and customer satisfaction, have contributed to a sharp decline in Tesla's stock value, dropping nearly 30% in 2024, reflecting investor concerns about the company's future amidst these operational and legal hurdles.

Read the Full TechCrunch Article at:
[ https://www.msn.com/en-us/news/technology/elon-musk-took-a-chainsaw-to-the-us-government-tesla-is-taking-the-hit/ar-AA1Cf12M ]

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