The shares of the auto maker recovered on Trump’s support after plunging to the worst day in more than four years. The shares ended 3.79% in the green.
Source: X/White House
The pair also inspected a Cybertruck, where Musk pointed out its bulletproof design. Musk even hopped into the passenger seat as Trump checked out the Tesla’s famed acceleration, joking that they were about to “give the Secret Service a heart attack.”
Source: X/White House
Musk pledged to double Tesla’s US vehicle output over the next two years, crediting Trump’s policies for fostering economic growth. “As a function of the great policies of President Trump and his administration, and as an act of faith in America, Tesla is going to double vehicle output in the United States within the next two years,” Musk stated.
Elon Musk: “As a function of the great policies of President Trump and his administration, and as an act of faith in America, Tesla is going to DOUBLE vehicle output in the United States within the next two years…” pic.twitter.com/g8jY77yxtP
— Donald J. Trump (@realDonaldTrump) March 12, 2025
This high-profile purchase comes at a crucial time for Tesla. The company’s stock has taken a hit since Election Day, as Musk’s increasing political entanglements have sparked controversy. But on Tuesday, Tesla shares surged, fueled by Trump’s endorsement and his vow to classify any attacks on Tesla dealerships as “domestic terrorism.”
Trump himself had teased the big buy earlier in the day on Truth Social: “I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American.”
First Published: Mar 12, 2025 8:16 am IS
