Why Tesla is in trouble with regulators
Elon Musk has been forced to defend his decision to sell the world’s largest electric car maker, as regulators around the world are cracking down on the company’s practices.
In an interview on CNBC’s Squawk Box Thursday, Musk said the car maker was not in any way in a bubble and was not getting into a “bubble economy.”
“It’s not that we are not doing good,” Musk said, but “we are doing it in a way that is not conducive to the growth of the economy.”
The president of the European Commission, Jean-Claude Juncker, said Thursday that the U.S. market is the worst performing of the 20 biggest markets for electric cars, according to a report by Bloomberg.
Juncker’s comments were the latest sign that the European Union is trying to regulate Tesla’s business in an attempt to ensure that the company doesn’t become too big to fail.
Tesla has not commented on the report.
Tesla Chief Executive Elon Musk said in January that he would be happy to sell his company to a private equity firm in exchange for a 50 percent stake in the company.