Tesla’s real struggles have only just begun

People hold signs as they gather in a protest outside a Tesla dealership in Lisbon against Tesla and SpaceX CEO Elon Musk on March 9th, 2025. | Photo: AFP via Getty Images

Tesla used to be the envy of the auto world, with sky-high valuations, a relentless focus on tech, and a CEO that commanded unprecedented loyalty from his customers.

Now the company's reputation is in shambles, its financial future looks increasingly grim, and its costly bets on AI and robotics are unlikely to pay off anytime soon.