Tesla is dealing with sagging gross sales and plunging inventory costs as Musk dedicates himself to overhauling the federal authorities as a part of Trump’s administration.
WASHINGTON — With Elon Musk dealing with escalating political blowback and monetary troubles, President Donald Trump stated he would purchase a Tesla automobile from his firm, an uncommon present of help from the president to his strongest adviser.
It was the most recent instance of how Trump has demonstrated loyalty to Musk, who spent closely on his comeback marketing campaign final 12 months and has been a key determine in his second administration.
The Republican president introduced early Tuesday that he was going to purchase a brand new Tesla as “a present of confidence and help for Elon Musk, a really nice American.”
Musk’s electrical automobile firm is being battered by sagging gross sales and plunging inventory costs. He continues to run the automaker — in addition to the social media platform X and the rocket producer SpaceX — whereas additionally serving as Trump’s adviser on overhauling and downsizing the federal authorities.
“Elon Musk is ‘placing it on the road’ as a way to assist our Nation, and he’s doing a FANTASTIC JOB!” Trump wrote on social media. “However the Radical Left Lunatics, as they usually do, are attempting to illegally and collusively boycott Tesla, one of many World’s nice automakers, and Elon’s ‘child,’ as a way to assault and do hurt to Elon, and all the pieces he stands for.”
The White Home didn’t instantly elaborate on Trump’s plans, akin to how the acquisition can be dealt with or the place the automobile can be stored.
Presidents virtually by no means drive for safety causes. Joe Biden bought behind the wheel of an electrical truck whereas selling home manufacturing, and Barack Obama took a spin with Jerry Seinfeld within the White Home driveway for a comedy present.
However whatever the practicality of Trump’s buy, his in a single day announcement about shopping for a Tesla represented one other step in how the president has blurred traces by bringing Musk into his administration.
Musk is the world’s richest individual, with billions of {dollars} in authorities contracts. He is additionally exerting sweeping affect over Trump’s administration by way of the Division of Authorities Effectivity, or DOGE, and touring incessantly with the president.
Throughout an interview with the Fox Enterprise Community on Monday, host Larry Kudlow requested Musk “how are you working your different companies” whereas additionally advising Trump.
“With nice issue,” he stated.
“However there’s no turning again, you say?” Kudlow responded.
“I’m simply right here making an attempt to make authorities extra environment friendly, eradicate waste and fraud,” Musk stated.
Tesla has not too long ago confronted protests and vandalism. Police are investigating gunshots fired at a dealership in Oregon, and hearth officers are analyzing a blaze that destroyed 4 Cybertrucks at a Tesla lot in Seattle.
At occasions, the White Home has wanted to play cleanup for Musk, who had by no means labored in public service earlier than and has admitted that he’ll make errors alongside the way in which.
For instance, Musk introduced inflated estimates of fraud in authorities advantages like Social Safety on Monday, main Democrats to argue that he was planning cuts to the favored applications.
“A lot of the federal spending is entitlements,” Musk stated within the interview. “That’s the massive one to eradicate.”
The subsequent morning, a White Home account on X criticized information organizations as “mendacity hacks” and instructed Democrats to “spare us the pretend outrage” about lowering advantages.
“He was clearly speaking concerning the WASTE within the applications,” the White Home posted.
