During a recent interview appearance, former president Donald Trump was asked for his thoughts about Elon Musk and electric vehicles.
The commentary was mixed.
What Happened: The relationship between Trump and Musk has been somewhat muddled over the years and could continue to be a storyline ahead of the 2024 election.
During an appearance on the Full Send Podcast, Trump had praise for the Tesla Inc TSLA CEO. Given the opportunity to share only one word to describe Musk, Trump offered the following:
“Smart,” Trump said.
While not many would disagree with the notion Musk is incredibly smart, Trump’s commentary on electric vehicles may not be great for Tesla investors if Trump is reelected in the 2024 election.
Trump said that he hoped to accomplish several basic items when he wins the 2024 election, including lowering the cost of gas for consumers.
The former president said the U.S. is sitting on the biggest among of “liquid gold,” but instead is importing oil and gas from other countries.
Trump was critical of electric vehicles in the interview. “They want to make all-electric cars, where batteries are made with minerals that China controls,” he said.
Trump added almost nothing for electric vehicle battery components comes from the U.S.
The former president also questioned the viability of using electric vehicles on trips.
“Not everyone wants to drive a car for an hour and a half. You’d like to be able to drive for six or seven hours.”
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Why It’s Important: The comments from Trump are a mixed bag as he praised Musk and has often gotten along with the Tesla CEO with a love-hate relationship depending on the week or month. The comments on lowering the cost of gas and not pushing for electric vehicle growth could be concerning for the electric vehicle sector.
President Joe Biden may not always recognize Musk and Tesla by name, often choosing to call General Motors the leader in the electric vehicle space.
Biden has been a supporter of pushing through electric vehicle tax credits and infrastructure bills that support bringing mineral mining to the U.S. and building out more electric vehicle charging stations.
A return of Trump to the White House could see the recent electric vehicle support and initiatives get pushed back, which could hurt the growth of Tesla and other companies focused on electric vehicles.
Trump recently lashed out at Musk for telling viewers he voted for Biden in the 2020 election. Trump claimed Musk told him previously that he voted for him during the same election.
Musk welcomed Trump back to the Twitter social media platform after acquiring it for $44 billion. Trump has yet to post on Twitter since seeing his account unbanned by the Twitter and Tesla CEO.
Read Next: Exclusive: Joe Biden Tops 2024 Election Betting Odds, Where Does Donald Trump Rank?
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