According to foreign media reports, on July 1, US President Trump once again slammed Musk on his social media platform Truth Social, accusing the CEO of Tesla and SpaceX of profiting too much from government subsidies.
Trump posted: “Musk may receive more subsidies than anyone in history. Without the subsidy, he may have to close his doors and return to his hometown in South Africa. ”
Image credit: Tesla
Trump added: “If Musk’s rocket launches, satellite deployments are canceled, andElectric vehicleSubsidies for manufacturing projects, the United States will save huge amounts of money. Maybe it’s time for the U.S. Government Efficiency Department (DOGE) to take a good look at the subsidies Musk and his company receive, which can save a lot of money! ”
In response, Musk responded directly on his social media platform X: “My meaning is clear – cancel all subsidies, cancel immediately.” ”
Trump also said: “Elon Musk made it clear long before he strongly supported my candidacy for president, and I strongly oppose the electric vehicle mandate. This policy is ridiculous, and its repeal has always been an important part of my campaign platform. Electric cars themselves are fine, but everyone should not be forced to own one. ”
Previously, Musk had slammed Trump’s new tax bill, warning that cutting subsidies for electric vehicles and other clean energy would have a “very devastating” impact on the United States. He also said the bill would significantly increase the size of the U.S. government debt and erase the cost savings he achieved through the U.S. Department of Government Efficiency. Industry analysts say the bill will increase the U.S. debt by about $3 trillion.
On June 30, Musk once again criticized US President Donald Trump’s massive tax cuts and spending increase tax bill, and threatened to remove lawmakers who supported the bill while promising to limit government spending during the election campaign.
He wrote on his social media platform X: “Every member of Congress who runs under the banner of cutting government spending, but then votes for the largest debt growth in history, should be ashamed!” As long as I still have a breath, I will let them lose in next year’s primary. ”
Tesla Inc. has been benefiting from a popular EV tax credit of up to $7,500 per vehicle, but Trump’s new tax bill will eliminate this policy. If this offer is canceled, Tesla’s recent weak sales are bound to make matters worse. It is reported that Tesla will announce second-quarter sales later this week, and its market demand is expected to decline further.
Musk’s public break with Trump triggered a sharp fluctuation in Tesla’s stock price, with the company’s market value evaporating by about $150 billion in a single day on June 5, the largest drop in history. Affected by the conflict between the two, the price of Tesla’s shares traded in Frankfurt fell by 5% on July 1.
