Falling shares, vandalism and criticism have investors demanding new Tesla leadership. Tom Zhu from Tesla in China is now mentioned as a realistic candidate.
Elon Musk is constantly at the center of the escalating crisis at Tesla. Share price drops, violent protests, and widespread vandalism of the cars are now leading to increasing demands for Musk to step down as CEO.
The most talked about name as a possible replacement is Tom Zhu , who currently leads Tesla in China and has been behind great results in a short time.
Several investors see Zhu as the stable alternative to Musk, who is increasingly associated with political conflicts and unrest.
Since the turn of the year, Tesla's share price has fallen 36 percent – the biggest quarterly decline since 2022. According to Tesla investor Ross Gerber, this is because Musk has abandoned day-to-day responsibilities and is instead spending his time on political projects in the United States.
“Tesla needs a new CEO,” Gerber tells Sky News.
“Either Elon has to return to the company, or he has to hand over the post to someone who can actually concentrate on Tesla.”
Is Tom Zhu the natural new man on the Tesla throne?
At the same time, protests against Musk are raging. Tesla cars have been vandalized all over Europe and the United States. In March, cars at charging stations in Boston were set on fire .
In Rome, 17 Teslas were destroyed in an arson attack at a showroom. In Sweden, stores were vandalized a few days ago. Slogans like “De-Musk America” and “Don't buy Nazi cars” are written on the cars.
In France, businessman Romain Roy has canceled a large Tesla order and switched to European car brands in protest.
According to several media outlets, it is Musk's role in the Trump administration and his leadership of the "DOGE" department in particular that has sparked the anger.
Amid the chaos, Tom Zhu is being mentioned as an obvious heir. He has been part of Tesla since 2014, when he started as head of expansion in China.
Since then, he has been responsible for building the Shanghai factory in just ten months and spearheading growth in the world's largest electric car market.
Since 2022, Zhu has had global responsibility for Tesla's production and sales, and many point to his ability to deliver results without drama. Several analysts therefore see him as the stable CEO that Tesla now needs.
Musk has not commented on the criticism himself. However, on the social media platform X, he recently called the fire in Rome “terrorism” and accused anarchists of being behind it.
Italy's Deputy Prime Minister Matteo Salvini has expressed support for Musk, saying that Tesla and its employees have been victims of a hate campaign.
The situation now poses a potential leadership change for Tesla. While Musk maintains his focus on politics and his other businesses, pressure from both investors and the public is growing. The question is, however, will Musk ever hand over the reins to someone else?
Learn more about Tom Zhu below:
