Musk's rough week: $500M lost in TX, Cybertrucks wind down, stocks fall

Elon Musk poured nearly half a billion dollars into the midterms to support Republican candidates, most to help Ken Paxton defeat Democrat James Talarico in the Texas Senate race. Talarico won.

This as Elon Musk said Friday that Tesla will wind down production of the Cybertruck at its factory in Austin, Texas — the only plant that makes the polarizing truck. The change will start “around the middle of next year to make room for increased Cybercab production,” Musk, Tesla’s CEO, posted on his social media platform X.

It wasn’t immediately clear if Tesla plans to switch Cybertruck production to another factory or phase it out entirely, though the Cybertruck’s lead engineer, Wes Morrill, appeared to suggest that the vehicle had reached its end.

0:00 Musk bets big in the TX race
0:48 Tesla to wind down production of Cybertruck
3:06 Honig answers if Musk would be safe from a Democrat-led subpeona
4:33 Did Musk get anything for his $500 million?
8:00 Erin & panel on Musk's failed investment
10:21 The panel discusses a potential AI bubble
14:55 Does Musk have good political instincts?

Watch 24/7 live news with CNN Headlines: https://bit.ly/4eIvlTr

Stream more on CNN with an All Access subscription: https://cnn.it/4AZMu54

#Musk #Election #News