By DAVID FERRIS, Politico
Tesla has been synonymous with electric vehicles for more than 15 years, elevating the company’s brand and CEO Elon Musk’s fortune.
But Tesla’s ambitions as an EV maker are shrinking as it pursues artificial intelligence — and faces the reality of a decreasing share of the car market.
Tesla’s vehicles made up only 38 percent of U.S. electric vehicle sales in August, according to data from Cox Automotive that was first reported by Reuters. Five years ago, Tesla sold more than 80 percent of America’s EVs.
Recent declines have been sharpest, tracking Musk’s plunging political popularity after leading President Donald Trump’s government-slashing efforts. As recently as May, Tesla sold more than half of U.S. EVs.
Meanwhile, Tesla recently released two milestone documents: a new master plan and a new proposed pay package for Musk. Neither puts electric vehicles in the foreground.
Musk’s pay package, which Tesla’s board unveiled last week and still needs investor approval, lays out the goals that Musk must hit to earn a titanic $1 trillion in the next decade.
It includes stretch goals in industries that, for now, barely exist.
For example, Musk could meet his targets by selling 1 million Optimus robots or putting 1 million robotaxis on the road. Both goals are difficult because, unlike when it began selling EVs, Tesla has serious competitors; it trails Waymo in robotaxi deployment, and other firms are developing humanoid robots.
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