News about Elon Musk today in the afternoon, following Donald Trump’s purchase of a Tesla Model S worth approximately $80,000 (without any discounts) to show support for Elon Musk who has been criticized for his work in government agencies.
Musk’s team then made a pact with Trump that Tesla will double car production in the United States within the next two years to support Trump and his policies.
Trump has attacked electric cars several times during his search for votes, and in January, he revoked the 2021 executive order signed by former President Joe Biden aiming to have half of the cars sold in the US by 2030 to be electric cars.
He later told reporters that he heard good things about Tesla from his friends, and even though he can no longer drive, he will keep this Tesla for White House staff to use.
The daily news coverage of Musk has led to a continuous decline in Tesla sales and stocks. In January, Tesla worked hard to increase production volume for this year after delivering a reduced number of cars for the first time in 2024.
Furthermore, Tesla’s market value has dropped by more than half since its all-time high of $1.5 trillion, and Tesla’s stocks have decreased by around 55% compared to the price surge in December following Donald Trump’s recent election victory.
Source: X.com, Reuters.
TLDR: Elon Musk in the news for Trump’s Tesla purchase, leading to increased production promises and declining Tesla market value and stocks.
Leave a Comment