WASHINGTON (TNND) — Billionaire Elon Musk made huge waves ahead of last year’s election when he plowed millions of dollars into President Donald Trump’s re-election campaign, eventually dovetailing that into a role helping the president peel back and reshape the federal government. This comes at a difficult time for one of Musk’s biggest brands — electric car maker Tesla, which is facing severe headwinds.
Tesla’s four top models helped electric vehicles carve out a niche in the larger automotive industry. Models S, X, 3 and Y were once considered cutting edge in the 2010s, but some industry research analysts worry those contributions are starting to look outdated.
That’s a view shared by Peter Wells, director of Cardiff University’s Center for Automotive Industry Research.
“We’ve not seen the level of innovation in terms of the product range that perhaps Elon Musk should have been looking for. I think that is a big part of their problem,” Wells told BBC recently, referring to Tesla’s range per charge. Other analysts point out that Tesla hasn’t had a fresh model since the Cybertruck.
Tesla is now recalling 46,000 Cybertrucks following a report from the National Highway Traffic Safety Administration suggesting the vehicle’s exterior panels are falling off while driving, causing potential road hazards. Owners can have their rail assembly repaired at no cost.
