Earlier on Wednesday evening, the Wall Street Journal reported that concerns about Tesla’s plunging stock prompted board members to hunt for a successor to CEO Elon Musk.

Tesla has hit back following a Wall Street Journal report that its board had initiated a search for a new CEO to replace Elon Musk, taking to Musk’s social platform X to call the claim “absolutely false.”

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.