Elon Musk Walks Back Criticism of Trump Amid Tesla’s Robotaxi Launch Plans
Elon Musk appears to be softening his criticisms of Donald Trump in a bid to ease tensions as Tesla prepares for its robotaxi launch. After making controversial statements about Trump, including unfounded allegations, Musk posted on X expressing regret for some of his comments. Analysts view this as a strategic move to mend fences, crucial for Tesla’s future amid regulatory scrutiny.
Elon Musk is seemingly softening his stance on President Donald Trump after a heated exchange of words. The Tesla and SpaceX CEO admitted in a post on X that he regrets some comments he made about the president, claiming they went “too far.” Among those remarks was an unsubstantiated allegation linking Trump to the Epstein files, which obviously ignited a firestorm on social media.
Just last week, Musk criticized Trump’s domestic policy initiative, calling it a “disgusting abomination” and projecting that it would inflate the national debt by $3.8 trillion. The tensions escalated to a point where Trump bluntly said Musk had “lost his mind.” However, there appear to be signs that Musk is looking to ease the tensions. Notably, after Trump’s recent remarks wishing Musk well, Musk responded with a heart emoji to express his approval.
Musk’s move to mend fences coincides with Tesla’s much-anticipated launch of its robotaxis in Austin, Texas, slated for June 22—or at least tentatively so. He shared a video of the robotaxi cruising through the streets, adding that the first self-driving Tesla ride will take place from the factory to a customer’s home on June 28, which is his birthday. There’s a lot riding on this launch for Musk, and the timing of his apology could be strategic calculating.
Analyst Dan Ives from Wedbush Securities referred to Musk’s gesture as an “apology tour,” noting its smart timing with the impending robotaxi launch. He also reflected on how the feud had been an albatross for Tesla shares, which saw a significant drop of 14% last week following Musk’s harsh comments. Investors have been worried about the implications of this rift on future business, especially considering Trump’s pivotal role in Republican circles.
Ives stated, “Watching the former BFFs turn against each other has been an overhang on shares of Tesla as investors are looking ahead and fearful that Trump in revenge mode will make it more difficult for an autonomous future with Tesla front and center.” The more recent stock price trends show a modest recovery, with shares up about 3.42% over the past five days, hinting that Musk’s public relations strategy might be working.
Meanwhile, Cathie Wood, CEO of Ark Invest, pointed out how Musk’s enterprises, including Tesla and SpaceX, deeply rely on government support. Historically, SpaceX has raked in $22 billion in government contracts, and regulatory developments concerning Tesla’s autonomous vehicles could dramatically alter the landscape of Musk’s businesses. Given that federal regulations may soon take the place of the current state-level chaos surrounding autonomous tech, mending ties with Trump could be pivotal for Musk’s ventures going forward.
Ultimately, as Musk attempts to navigate these turbulent waters, it’s clear that his relationship with Trump isn’t just personal; it’s also critical for Tesla’s long-term success. It seems that for Musk, this apology isn’t merely a social gesture but perhaps a calculated business maneuver designed to align interests as he drives future innovations.
In a twist of fate, Musk is looking to mend his relationship with Trump as he gears up for the launch of Tesla’s robotaxis in Austin. This attempt comes in the wake of harsh criticisms and escalating tensions between the two. Analysts suggest that this ‘apology tour’ is not merely about personal relationships— rather, it’s a strategic move that could have significant impacts on Tesla’s future in an increasingly government-regulated landscape. In the end, whether Musk can repair these ties may determine the trajectory of his businesses.
Original Source: qz.com
