Elon Musk under fire as Tesla warned investors could walk after Cybertruck ‘epic failure’

Tesla has been warned that investors could walk after the the company was forced to recall all Cybertrucks.
The vehicles were recalled after a design fault was found with the acceleration pedal.
The recall is a major public relations disaster for Tesla, and experts warns if won’t just be customers who are questioning the future of the company.
Thomas Monteiro, senior analyst at Investing.com, told The Guardian: “At this point, the company simply cannot risk the potential liability or bad publicity.
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“Against this backdrop, Musk needs to keep investors convinced that the company’s projects are pursuing the right path and that these will lead to margin appreciation over time.
“An epic failure on the Cybertruck could very well jeopardize that perception, especially given that the company hasn’t really launched any groundbreaking innovations in years now.”
Dan Ives, senior equity analyst at Wedbush Securities, added: “This is another black eye for Tesla, which has added to the chaos going on for Musk. Cybertruck is the pedestal moment and a recall out of the gates is a bad look.”
The Cybertruck humiliation comes as Tesla faces multiple crises.
The company’s stock market performance has faltered in recent months, and electric vehicle prices have had to fall due to competition from Chinese companies.
On Friday, Tesla CEO Elon Musk said: “There were no injuries or accidents because of this. We are just being very cautious.”
It was also reported this week that Tesla is laying off 10 percent of its global workforce as sales take a hit.
Musk also asked Tesla shareholders to re-approve a pay package worth up to $56billion this week after a judge had rejected it.