Elon Musk made Tesla a household name. Now his presence is tanking the company

Tesla has reached a potentially lethal moment in its history, and it isn’t solely due to CEO Elon Musk’s political radicalization. Years of design and technology stagnation have led to a languishing model line and outdated technology. Back in 2023, I wrote that the beleaguered carmaker should aspire to survive and become yet another car manufacturer. Now that objective feels more pressing—and distant—than ever.

The company just announced a new quarter of abysmal vehicle sales. Tesla’s...