Elon Musk has made a name for himself and Tesla by breaking the rules, but the billionaire's latest comments on politics and a claim of sexual harassment against him that he said is untrue may hurt the brand in the eyes of some car owners and employees.
Tesla also was cut this week from the widely followed S&P 500 ESG Index, which an index executive said was due to issues including claims of racial discrimination within the company and crashes linked to its vehicles. #BoycottTesla was trending on Twitter on Friday and several people claimed they were canceling their car orders.
"They're doing a lot of good things," said Taylor Ogan, CEO of Snow Bull Capital, which owns Tesla shares."It's just disappointing when that is tainted by Elon Musk's antics. Elon Musk is the best thing for Tesla and the worst thing for Tesla." If discussion around water coolers at work focused on the sexual harassment claim against Musk rather than Tesla products, the end result could be"corrosive" for the Tesla brand, said John Smith, a former group vice president at GM who ran global product planning.
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