Bloomberg and other media reports stated that on June 30 local time, US President Trump posted multiple messages on social media, fiercely criticizing Elon Musk and accusing his company Tesla of benefiting excessively from the US government's electric vehicle subsidy policy.
"Elon may have received the most subsidies in human history, far more than anyone else. Without subsidies, he might have already closed down and gone back to South Africa,"
He further sarcastically said: "Then there would be no rocket launches, satellites in space or electric car production, and our country could save a lot of money. Maybe we should let Dogecoin (DOGE) think about this carefully? It could save a lot of money!"
Elon Musk Bloomberg
Trump also accused Musk of changing his stance: "Before Elon strongly supported my presidential campaign, he already knew I was firmly against electric vehicle mandates."
But he also emphasized, "Electric vehicles are fine, but it shouldn't force everyone to own one. This regulation is absurd and has been an important part of my campaign platform."
To this, Musk's side has not directly responded, but he has previously publicly stated that Trump's tax reform plan would 'significantly cut electric vehicle and other clean energy incentives, causing extremely destructive effects on the country'.
According to a previous report by Associated Press, the US government has promoted the transition to clean energy since Obama's administration, establishing federal tax credit policies, allowing consumers who purchase electric vehicles to receive up to $7,500 in tax credits, and Tesla has been one of the main beneficiaries of this policy. The Biden administration further pushed for green transformation, setting a target of 68% electric vehicle sales by 2032 to support climate action.
Meanwhile, Trump has repeatedly criticized this policy since the start of his 2024 campaign, calling it "a gift from the Democrats to Chinese manufacturing" and proposing in his campaign tax reform plan to cancel clean energy subsidies. This position has created some conflict with Musk's recent stance on retaining mandatory targets, although Musk does not support mandatory targets, he has always emphasized the importance of subsidy policies for innovation.
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