There is a high possibility that Mr. Musk will benefit from the return of the Trump administration.

November 7, 2024 at 5:06 AM GMT+9

Elon Musk, the chief executive officer (CEO) of the leading American electric vehicle (EV) company Tesla, is expected to receive significant benefits from the victory of Mr. Trump, whom he has supported in the US presidential election.
Mr. Trump has stated that if re-elected, he will repeal the EV mandate. This could potentially be a bigger blow to Tesla's competitors than to Tesla, which has high passenger carried.
CFRA Research analyst Garrett Nelson stated, "Since there are no other companies profiting from EVs apart from Tesla, reducing or eliminating EV subsidies will enhance Tesla's competitive advantage.
Furthermore, analysts point out that Tesla is likely to be protected from competition as Trump has pledged to impose high tariffs on imports from china, especially EVs.

In September, Mr. Trump announced that if he wins the election, he will establish a committee for government efficiency, with Mr. Musk taking the lead.
Kilter Chebiot analyst Mamta Barrecha is involved in overseeing regulatory easing and expenditure reduction, with Musk having influence on US policies regarding artificial intelligence (ai), space exploration, and EVs, stating that "all of these are areas where Mr. Musk himself has a direct interest through businesses like Tesla".

Tesla's stock price rose by about 15% in afternoon trading.