Tesla’s board in March contacted multiple executive placement firms to begin a search process for a new CEO to replace Elon Musk at the helm of the embattled electric car company, the Wall Street Journal reported Wednesday night,

Tesla Inc.’s board of directors took steps toward finding Chief Executive Elon Musk’s successor earlier this month, as the EV maker’s stock sank while Musk prioritized his DOGE efforts, according to a new report.

Tesla has denied reports that it has contacted recruitment firms to launch a search for a replacement for Elon Musk as chief executive. The Wall Street Journal reported on Wednesday that the electric car firm's board began looking for a successor to Mr Musk last month.