Trump Hosts Tesla Showroom at the White House to Support Elon Musk

On Tuesday, President Donald Trump organized a private car show at the White House that exclusively featured Tesla Inc. vehicles. This event was part of an effort to support Elon Musk, who has faced criticism due to his connections with the Trump administration.

Event Highlights: The car show lasted about 30 minutes, functioning as a combination of a news conference and a promotional event for Tesla. During this occasion, Trump expressed an interest in purchasing a Tesla vehicle. He specifically pointed out a bright red Model S, noting, "The one I like is that one," and stated he intended to buy it, even without receiving any discounts.

Support for Musk: Standing next to Trump, Musk highlighted the features of the new Cybertruck, especially its bulletproof capabilities. Trump's support for Musk was clear as he stated, "I think he's been treated very unfairly by a very small group of people." This sentiment was likely aimed at countering the backlash Musk has experienced.

Controversial Context: The event was particularly remarkable considering Trump's previous remarks about electric cars. Despite having criticized them in the past, Trump used the backdrop of the White House to promote sales for a friend and major financial backer. He even shared that the Secret Service would not allow him to drive the Tesla, but he intended to keep it at the White House for use by his staff.

Market Impact: The timing of the car show comes as Tesla is encountering significant challenges, with the company's stock dropping over 53% since December, resulting in nearly $800 billion lost in investor wealth. Factors contributing to this decline include market fluctuations and public discontent over Musk’s ties to Trump.

Musk has also recently expressed his disapproval of attacks against Tesla vehicles, denouncing acts of vandalism as not being free speech. This statement followed incidents of vandalism reported in Brookline, Massachusetts.

Controversial Comments: Furthermore, Trump has made claims attributing boycotts against Tesla to individuals like George Soros who he claims have supported protests against the company.

Musk's Challenges: The balancing act between Tesla and his responsibilities in the Department of Government Efficiency has also been a concern. Investors have expressed worries that Musk’s engagement with this department could serve as a distraction affecting his other businesses, including SpaceX, X, and xAi.

Stock Performance: Following the car show, Tesla's stock saw a notable rebound, closing up nearly 3.8% at $230.58 during regular trading and rising another 1.9% to $234.99 in after-hours trading, as reported by Benzinga Pro.

Trump, Tesla, Elon