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Headline : Elon Musk is backing Donald Trump. Could that hurt Tesla?

Read more from the original article on here at www.npr.org.





Tags : #elon #musk #backing #donald #trump #could #hurt #tesla


No. of Paragraph 30

Tesla CEO Elon Musk applauds as Israeli Prime Minister Benjamin Netanyahu speaks to a joint meeting of Congress at the U.S. Capitol on Wednesday. Musk has endorsed former President Donald Trump's campaign — but he says he isn't donating $45 million each month to the cause. Saul Loeb/AFP via Getty Images hide caption

Tesla CEO Elon Musk is throwing his weight behind former President Donald Trump in the highly polarized 2024 presidential election, prompting many questions — including whether the move might prompt current or prospective electric vehicle buyers to avoid the car brand.

The speculation comes at a time of transition for both the wider EV industry and Tesla in particular. On Tuesday, the company reported a 45% drop in quarterly profits compared to the same period in 2023, saying it is “currently between two major growth waves.”

In its earnings report, Tesla said it has enough cash and resources to carry out its plans “during this uncertain period.”

Read more from the original article on here at www.npr.org.


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