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Trump Backs Tesla Amid Musk's Financial Woes

7/25/2025

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Summary

Story summary

President Trump endorsed Elon Musk and Tesla on Truth Social during a period of financial decline for the company.
His endorsement aimed to reassure investors amid concerns about federal subsidies for Musk's ventures.
Musk countered Trump's claims, noting that current clean energy incentives are already reduced.
Tesla faces increased competition and risks losing the $7,500 EV tax credit under Trump's budget.
Musk cautioned about "rough quarters" ahead as the company pivots to autonomous services.

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Story summary

President Trump endorsed Elon Musk and Tesla on Truth Social during a period of financial decline for the company.
His endorsement aimed to reassure investors amid concerns about federal subsidies for Musk's ventures.
Musk countered Trump's claims, noting that current clean energy incentives are already reduced.
Tesla faces increased competition and risks losing the $7,500 EV tax credit under Trump's budget.
Musk cautioned about "rough quarters" ahead as the company pivots to autonomous services.