Tesla shares rose this week, despite data showing that the EV company's sales in Europe nearly halved last month.

Yesterday (May 28), Tesla chair Robyn Denholm received a letter signed by 12 major pension funds that collectively hold significant stakes in the company. As first reported by the Financial Times, the letter calls on Musk to commit to working at least 40 hours per week at Tesla.

Billionaire Elon Musk on May 29 announced he is leaving as head of DOGE and exiting the Donald Trump-led administration. “…My scheduled time as a Special Government Employee comes to an end,” the Tesla and SpaceX chief wrote on X.

The numbers are the latest indication of how much the vehicle brand is suffering because of the backlash against its billionaire CEO and his far-right views.

Tesla's European sales fell sharply last month, dropping 49%, based on data from the European Automobile Manufacturers' Association.