President Donald Trump launched a criticism of mandates of electric vehicles and Tesla Inc. Tsla CEO Elon Musk On Tuesday, the suggestion of his former government adviser of his former government adviser is completely on federal subsidies.
What happened: “Elon can get more subsidy than any person in history, by far, and without subsidies, Elon would probably have to close the store and go back home to South Africa,” Trump wrote about Truth Social. “No rocket launches, satellites or production of electric cars and our country would save a fortune.”
The width of the president comes in the midst of the deteriorating market position of Tesla and the continuous criticism of Musk on Trump’s ‘Big Beautiful Bill’, an expenditure and tax package of almost 1,000 pages. Trump specifically suggested that the Ministry of Government Efficiency (Doge), which previously led Musk, should investigate billions in subsidies that flow to its companies.
Tesla is confronted with assembly headwind on important markets. Turnover in Canada fell 87% in Quebec during the first quarter of 2025, with researcher Troy Teslike warning that the company can report GAAP losses from the first quarter of 2026. Tesla remains 35 Canadian stores operating despite almost zero.
The EV mandate criticism reflects Trump’s promise to reverse the former president Joe Biden-Ela clean energy incentives. “Electric cars are fine, but not everyone should be forced to own one,” Trump said, and emphasized his consistent opposition prior to the presidential approval of Musk.
See also: Raoul Pal says that Robinhood lets users act publicly, SpaceX via blockchain is ‘democratization of finance’ – the end of the private markets of the public versus
Why it matters: The feudly revived tensions between the former allies after the departure of Musk in June from the Trump government. Musk, who is said to have contributed more than $ 250 million to Trump’s 2024 campaign, repeatedly attacked the expenditure account as “completely insane and destructive”. The Congressional Budget Office estimates that legislation would increase federal deficits by more than $ 3 trillion for ten years.
The stock of Tesla has fallen in the midst of political controversy around the role of the government of Musk. His assets, which reached a peak in December at $ 440 billion, fell to $ 363 billion after Tesla’s appreciation and vandalism that focused on dealers during his term of office.
The subsidy criticism of the president has given a special weight SpacexDependence on NASA Contracts and dependence on Tesla on EV -tax credits.
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