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Tesla’s actions collapsed after electric car chief executive Elon Musk said it would form a new political party, escalating the dispute with US President Donald Trump that could endanger the billionaire’s business empire.
Stock in Tesla They were reduced by 7.4 % during Monday’s trading on Wall Street, reducing by about 18 % over the past five weeks, as Musk has repeatedly clashed with Trump.
The return of political activism is contrary to what Musk promised shareholders At the end of April, when he said he would “separate much more than my Tesla time” to help arrest the fall in the sale of electric vehicles.
Tesla’s sales are partly caused by consumer eagerness Musk Champions right, causes all over the world.
Daniel Ives, an analyst at Vedbush, said Musk’s obvious decision to “dive deeper into politics … is the opposite direction that Tesla Investors’ shareholders (s) want to take over during this key period for the story” Tesla “.
Musk left Trump administration in late May when his time as a “special government employee” with the so -called Government Efficiency Department (DOGE) Come to an end. The departure came when the couple fell above the tax on the signing of the president and the spending account, which Trump calls a “big, beautiful account”.
Tesla’s market capitalization has fallen by more than $ 230 billion since Musk left the administration of about $ 915 billion on Monday. The valuation of the carmaker has dropped from the top in mid -December by more than $ 1.5 million.
In his last wide range against Trump, Musk announced during the July 4 holiday weekend that it would form A. New political partyHe said it was needed to combat the “one -party system” that undermines US democracy.
Trump has hit the billionaire’s plans for a new party, writing it on his social platform for the truth that “sad to see Elon Musk, as if it were completely” out of the rails “in essence to become a ruin on the train over the past five weeks.”
The public dispute signifies a spectacular disclosure of previously close links between the two forged when the richest man in the world helped to bankrupt Trump’s return to the White House.
Then Trump installs Musk, who also runs SpaceX, as Dogg’s head and gave him a job to find trillion dollars savings through the government.
Tesla’s actions have grown after Trump’s victory, as investors bet Musk’s closeness to the administration will benefit his businesses.
However, Musk was unable to use his influence to make the president restore his position for electric vehicles and renewable energy, and both are strongly punished in Trump’s “big, beautiful account”.
Tesla stands up to Lose billions In revenue from selling regulatory loans for rivals, after describing the penalties of car producers who build more polluting gasoline vehicles. Federal US $ 7,500 tax credit for certain purchases and lease of EV will be removed at the end of September.
Trump has accused him of ending EV-friendly policies of strictly opposed Musk to the law. In June, he said: “I took his mandate to EV that forced everyone to buy electric cars that no one else loved (what he knew for months I would do!), And he just went crazy!”
EDED Dorsheimer, an analyst at William Blair, said that more than $ 2 billion profits from the regulatory sale of loans is endangered by the law – which Trump signed the law last Friday.
“We also expect that investors are tired of deterring … And they just look up from his dipping in politics,” Dorsheimer added.
The consequences can be spreading wider than Tesla. Trump’s Union Steve Banon has called for nationalization SpaceX and the president has endangered To deprive the Musk rocket and satellite company to its federal agreements.
Trump also said he would “look” at Musk’s deportation in his native South Africa.
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