Tesla Stock Drops As Musk Seeks More Voting Control To Pursue AI and Robotics
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Tesla stock dropped 2% in pre-market trading after Musk said he wants 25% voting control of the company to feel comfortable growing its AI and robotics efforts.
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Musk currently owns 13% of Tesla and said 25% would let him be influential but not have full control.
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He warned if he doesn't get 25% control, he'll build AI/robotics products outside of Tesla.
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Musk said Tesla is more like a collection of startups compared to other automakers.
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Tesla shares have fallen 12% year-to-date, continuing their poor start to 2023.