Elon Musk’s endorsement of Donald Trump could endanger Tesla, especially as the company is going through a sales slump.
Within 30 minutes of the attempted assassination of former President Donald Trump, Elon Musk did what he had previously promised not to do. “I fully endorse President Trump and hope for his rapid recovery,” the billionaire posted on X. So much for that vow to stay on the sidelines. But it didn’t stop there. Days later, The Wall Street Journal reported that Musk planned on donating vast sums of his own wealth to a super PAC supporting Trump, possibly upwards of $45 million a month.
One could argue that the legacy auto industry relies on the government’s largesse more than Tesla, which has a huge head start in EV production, has multiple factories operating around the globe, and has already built a reliable network of EV charging stations. Without the credits, the Model 3 would still likely be one of the most affordable options out there, while other automakers’ EVs would suddenly become more expensive.
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