Musk says he's not stepping down as Tesla CEO, tells shareholders the company will advertise

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Elon Musk has dismissed speculation that he might step down as Tesla's CEO.

FILE - Tesla and SpaceX CEO Elon Musk speaks at the SATELLITE Conference and Exhibition, March 9, 2020, in Washington. Musk on Tuesday, May 16, 2023, dismissed speculation that he might step down as Tesla's CEO and told the companys annual shareholders meeting that the the electric car and solar panel company would start doing a small amount of advertising.

“Say it ain’t so,” one shareholder asked Musk about stepping down as Tesla's leader. “It ain’t so,” he replied without further discussion.“This has some merit,” he said to the shareholder at the meeting at Tesla's factory site near Austin, Texas. “We'll try a little advertising and see how it goes.” Tesla says on its website that the cars can't drive themselves and humans must be ready to intervene at all times. The company alsobecause it didn't obey traffic laws in some cases. The problems noted by the National Highway Traffic Safety Administration are to be fixed with an online software update.

“Tesla is not immune to the global economic environment," he said, predicting that the company will get through the period and do well, even when a lot of companies will go bankrupt.“If the car payments or your home payments go up you have less money for other things,” he said.

 

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