US President donald trump claimed on thursday that he is not planning to end Elon Musk's companies in America. trump said that he needs Musk and all other companies in the country and he wants these businesses to progress rapidly.
Controversy over subsidy
Recently trump had threatened that he would stop the billions of dollars of subsidy given to Musk's companies. But now he wrote on Truth Social,
"People are saying that I will end Elon's companies, this is not true. I want Elon and every company in our country to flourish. The better they do, the more America will progress."
Old clash between trump and Musk
Elon Musk, who was once a supporter of trump, now often criticizes Trump. Their paths separated when Musk left the Department of government Efficiency. After this, there was a verbal war between the two many times.
Controversy over 'Big beautiful Bill'
Musk recently criticized Trump's bill, which trump calls "Big beautiful Bill". This bill will end the subsidy on electric vehicles, which till now gave a big benefit to Tesla.
In response to Trump's threat, Musk had indicated that he would form a new political party. A few days later, he announced the 'American Party'. He said that this party has been formed to return people their freedom.
Tesla in crisis
Musk's biggest company tesla may be the most affected by this dispute. tesla is suffering huge losses due to changes in rules like EV tax credit. On thursday, the company's shares came down to $307.05, which is a decline of 7.67%.
Robotaxi project and government role
Tesla's next big bet is on robotaxi, which is being tested in Austin, Texas. These vehicles will run without steering and brake-pedal. This will be decided by the US Transportation Department, which regulates vehicle design.
Tesla's next big bet is on robotaxi, which is being tested in Austin, Texas. These vehicles will run without steering and brake-pedal. This will be decided by the US Transportation Department, which regulates vehicle design.
Subsidies and government contracts
Tesla has so far earned $11 billion by selling regulatory credits to companies that fail to comply with EV rules.
Tesla has so far earned $11 billion by selling regulatory credits to companies that fail to comply with EV rules.
At the same time, Musk's another company SpaceX has got contracts worth about $22 billion from the US government.
Political impact and Republicans' concern
The fight between trump and Musk can become a headache for the Republican Party. The party fears that this dispute may cause damage in the 2026 mid-term elections. At the same time, Treasury Secretary Scott Bessant responded to Musk's criticism, - "I will take care of the country's money-"
The fight between trump and Musk can become a headache for the Republican Party. The party fears that this dispute may cause damage in the 2026 mid-term elections. At the same time, Treasury Secretary Scott Bessant responded to Musk's criticism, - "I will take care of the country's money-"
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