When it rains, it pours, and that’s a saying that Tesla (NASDAQ: TSLA) investors know all too well right now. If consumer backlash against CEO Elon Musk’s political stint wasn’t enough, a number of executives have left the company recently, sales are in decline globally, its vehicle lineup is aging, its Cybertruck was a commercial flop, and it’s facing a growing number of lawsuits surrounding its Autopilot and Full Self-Driving (FSD) systems, among other developments — it’s certainly raining.
The bad news? Tesla’s latest move could signal just how desperate the automaker is right now.
Tesla Cybercab. Image source: Tesla.