It was a little less exciting than expected last night. Despite some predictions that Harris would win by a minimal margin, it was once again Trump who walked away with the win. The betting offices already pointed to Trump as the sure winner, so if you want a good prediction, look to the bookmakers. Anyway, Donald Trump’s profit news was good news for Tesla, because the EV manufacturer saw it share suddenly rises.
Elon Musk was probably also happy with the outcome. The CEO of Tesla followed the outcome of the elections together with Donald Trump. Trump and Musk have been good friends since July this year. Even though Musk first ‘openly’ indicated that he had voted for Obama, Clinton and Biden (Democrats). As a start-up, it may be more comfortable to operate with Democrats in power. However, as a company that belongs to an established order, Republicans are cool, perhaps.
Donald Trump’s win is good news for Tesla
When NBC was the first to predict that Donald Trump would win, the value of Tesla shares rose 15 percent, according to CNBC. This way Elon Musk gets some value for his money. The Tesla boss donated 75 million euros to America PAC, a political organization that supports the Republican candidate. Elon Musk also conducted a major campaign on his own social media platform X, to ensure Donald Trump won.
Also read: Half of Tesla drivers are switching to petrol, and that is good news
In general, electric cars are seen more as progressive and Republicans are more conservative. This is slightly different for Tesla, because they are no longer a young company that still has to grow. No, Tesla is now part of the established order. The biggest challenger for Tesla is not the US government, but the competition. Car brands outside the US in particular will have more difficulty gaining a foothold in the American car market with Donald Trump’s victory.
