Tesla’s week has been a whirlwind of political drama, market volatility, and operational challenges. Elon Musk’s public feud with President Donald Trump has sent shockwaves through the stock market, while unsold Cybertrucks pile up, and the company grapples with regulatory uncertainties. Here’s a breakdown of the top stories you need to know today.
Tesla Daily News Briefing – June 6, 2025
1. Tesla Shares Plunge 14% Amid Musk-Trump Feud
Tesla’s stock experienced its steepest single-day drop in over four years, falling 14% and erasing $153 billion in market value. The decline was triggered by escalating tensions between CEO Elon Musk and President Donald Trump, with investors concerned about the potential elimination of EV tax credits and other regulatory impacts.
2. Musk’s Net Worth Drops $34 Billion Overnight
Elon Musk’s net worth plummeted by $33.9 billion to $335 billion following Tesla’s stock decline. The drop reflects investor unease over the ongoing public spat between Musk and Trump, which has raised concerns about Tesla’s future government contracts and subsidies.
3. Trump Threatens to Sever Musk’s Government Contracts
In response to Musk’s criticism, President Trump threatened to terminate federal contracts with Musk’s companies, including Tesla and SpaceX. This move could have significant implications for Tesla’s operations and future projects.
4. Signs of Thaw in Musk-Trump Feud
After a day of trading barbs, Musk and Trump appeared to strike a more conciliatory tone, with reports indicating a potential call between Musk and the White House to address the tensions. Tesla shares saw a slight rebound following this news.
5. Tesla Shares Rebound 5.6% in Frankfurt Trading
Following reports of a potential Musk-White House call, Tesla shares rose 5.6% in Frankfurt trading, partially recovering from the previous day’s losses. Investors are cautiously optimistic about a resolution to the political tensions.
6. Dozens of Unsold Cybertrucks Pile Up in Michigan
Over 100 unsold Tesla Cybertrucks have been spotted in a Michigan shopping center parking lot, raising concerns about demand and inventory management. Local authorities have cited zoning violations, and residents are expressing frustration over the situation.
7. Tesla’s Model 3 and Model Y Included in China’s Rural EV Campaign
Tesla’s Model 3 and Model Y have been added to China’s campaign to boost rural EV sales, potentially opening new markets for the company. This inclusion could help Tesla expand its footprint in China’s vast rural areas.
8. Morgan Stanley Analyst Predicts Tesla’s Entry into Air Taxi Market
Morgan Stanley auto analyst Adam Jonas speculates that Elon Musk might leverage Tesla’s strengths in AI and battery technology to enter the electric vertical take-off and landing (eVTOL) market. While there are no concrete plans yet, the potential move could diversify Tesla’s offerings.
9. Tesla Takedown Protests Continue Globally
The Tesla Takedown movement, protesting Elon Musk’s political activities, continues to gain momentum with demonstrations at Tesla stores worldwide. Protesters aim to economically impact Musk and challenge his influence.
10. Tesla’s Upcoming Cybercab Aims for Full Autonomy
Tesla’s Cybercab, also known as the Robotaxi, is an upcoming fully autonomous electric vehicle designed without a steering wheel or pedals.
Production is planned to commence before 2027, marking a significant step in Tesla’s autonomous vehicle ambitions.