President Trump has bought a Tesla (a red model S) which seems odd as the administration has flip-flopped on electric vehicles. Evidently this purchase is more about support for Elon Musk. The Tesla boss has come under scrutiny for leading the Trump administration’s government cost cutting initiatives.
Trump explained: “I’m going to buy because number one, it’s a great product, as good as it gets. Number two, because this man [Elon Musk] has devoted his energy and his life to doing this, and I think he has been treated unfairly.” Trump delivered the remarks alongside Musk.
Tesla’s stock has halved in value since late last year and it suffered its largest drop in more than four years on Monday. It follows a string of protests at Tesla warehouses from demonstrators unhappy with Musk’s mass layoffs and spending cuts.
Tesla vehicles have also been vandalized in parts of the US. Elsewhere, some Tesla owners have attached bumper stickers with messages questioning Musk’s state of mind.
When Trump was asked about whether violent protestors should be labeled as domestic terrorists, he responded, “I will do that…I’m going to stop them.”
Musk acknowledged the toll his new position had taken on his business empire. He said that both Tesla and SpaceX had been adversely affected.
Trump touted the work of Musk, telling reporters, “I just want people to know that you can’t be penalized for being a patriot.
“Because he’s finding all sorts of terrible things that have taken place against our country, we want to penalize him in an economic sense. And I just think that’s very unfair. So I just wanted to make a statement. I’m going to buy one now.”
Trump clarified he will not be driving the Tesla because he is not permitted to drive.
At the event, Musk announced that Tesla plans to double vehicle output in the United States within the next two years.
Some investors are concerned that Musk is spending too much time in Washington at the expense of his other companies.
When asked if he would remain Tesla CEO while working with Trump, he said yes, he would.
When asked how long he would help the government, he commented that he would “stay as long as it’s useful”.
