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Donald Trump, the Republican presidential candidate, has expressed his opposition to the widespread adoption of electric cars, despite being endorsed by Elon Musk, the CEO of Tesla Inc. (NASDAQ:TSLA).
What Happened: Trump voiced his stance at the National Association of Black Journalists conference in Chicago on Wednesday, as reported by Reuters. “Elon Musk endorsed me and he is a friend of mine, … but I am against everybody having an electric car,” said Trump.
Trump’s remarks come as the debate over electric vehicles continues to be a significant topic in the political arena. His stance contrasts with Musk’s vision for widespread adoption of electric cars.
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Why It Matters: The relationship between Trump and Musk has been a subject of public interest. In June, Musk revealed that Trump is a “huge fan” of Tesla’s Cybertruck, despite his public criticism of the electric vehicle industry. This revelation came during Tesla's annual meeting, where Musk mentioned that Trump often calls him for unclear reasons.
In July, California Governor Gavin Newsom referenced a 2022 post by Trump, suggesting Musk had sought Trump’s assistance for subsidized projects.
Further complicating their dynamic, Musk denied claims of donating $45 million monthly to Trump’s campaign. Instead, he clarified the purpose of his political action committee, “The America PAC,” which supports political campaigns without direct donations to candidates.
A report suggested that a second Trump presidency could benefit Musk’s ventures, including Tesla, SpaceX, and X (formerly Twitter.) Regulatory changes under Trump could favor Musk's businesses, aligning with Musk’s support for Trump’s 2024 campaign.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
Posted In: TSLA
