On the Dash:
- Former Stellantis CEO Carlos Tavares predicts Musk may leave Tesla to focus on other ventures.
- Tesla faces increasing competition from China’s BYD, signaling pressure on market share.
- Musk’s divided attention and Tesla’s high valuation raise concerns about long-term sustainability.
Carlos Tavares, the former CEO of Stellantis, predicts that Tesla could lose its automotive focus as CEO Elon Musk diverts attention to other ventures, citing the company’s overvaluation and competitive pressures from China’s BYD, according to the French newspaper Les Echos.
Tavares, who led the manufacturer of Peugeot, Fiat, and Jeep until late last year, said Musk might eventually step away from the car industry to concentrate on projects such as SpaceX, humanoid robots, or artificial intelligence, leaving Tesla without its founder at the helm.
The remarks come as Tesla faces heightened investor scrutiny ahead of a shareholder vote on Musk’s proposed pay package, which could award him roughly $1 trillion in stock if the company meets ambitious market and operational milestones. Tavares expressed skepticism that Tesla will meet these objectives, describing the company’s current valuation as “stratospheric” and warning of potential stock market losses.
Tavares also criticized Musk’s time allocation, suggesting he has devoted insufficient attention to Tesla while pursuing multiple ventures simultaneously. He said the company remains innovative but faces increasing pressure from BYD, China’s leading electric vehicle manufacturer.
