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Elon Musk, CEO of US electric car maker Tesla, said that Republican presidential candidate Trump may cancel his support for electric vehicles, which will cause greater harm to other automakers than Tesla.
Musk said on a post-earnings call on Tuesday that this would be devastating for Tesla’s competitors and would slightly hurt Tesla, but he estimated that it might actually help Tesla in the long run.
Musk said Trump’s cancellation of subsidies and the impact on Tesla’s car sales are not important because Tesla is an artificial intelligence company focused on autonomous driving technology.
Regarding Trump’s earlier statement that he would impose a 100% to 200% tariff on Mexican-made cars after his election, making them unsaleable in the United States, Musk said that he had suspended plans to build a factory in Mexico and would re-evaluate the investment in building a new super factory there after the presidential election.
He noted that Trump’s threat to impose high tariffs on Mexican-made cars makes investing in Mexico unwise.
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