Transportation
Tesla Board Gets an Earful From State Treasurers Over Musk’s Focus
Customers browse vehicles at a Tesla Inc. showroom in Newport Beach, California.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
The treasurers of eight US states have written an open letter to Tesla Inc.’s board of directors questioning the direction of the company and the level of attention Elon Musk is paying to its mounting challenges.
The overseers of funds and investments for California, Illinois and half a dozen other states cite Tesla’s sagging stock, disappointing first-quarter deliveries and surge of trade-ins by vehicle owners as being among their causes for concern.