It was typical Tesla hyperbole, and even Musk told listeners to the company’s earnings call that his prognostications should be taken “with a grain of salt because I am optimistic.” Now, it seems, any optimism in this smaller Tesla was misplaced.

Responding to a question about how tariffs were affecting companies like Tesla, which still import some parts, Trump underscored the need for a complete shift to local production.

Here are the key takeaways from Musk’s latest Mars update:

Responding to a Politico exclusive claiming that Donald Trump had told his inner circle and cabinet members that Elon Musk would ... his tariffs, but Musk’s Tesla car business was already ...

Donald Trump and Elon Musk haven't always gotten along, but now the two powerful men are close political allies — yet cracks are beginning to show.

Tesla stock was rising in in premarket trading Thursday. Elon Musk and trade were driving shares higher. Shares of the electric-vehicle maker were 2.5% higher in premarket trading at $365.76, while S&P 500 and Dow Jones Industrial Average futures were 1.

Elon Musk, CEO of Tesla and SpaceX, is stepping back from his role at the Department of Government Efficiency (DOGE) under President Trump's administration. Frustrated by federal bureaucracy, Musk's decision follows modest savings in government cuts and a desire to refocus on his companies.