Tesla stock climbs 2.27% during the pre-market trading session on Tuesday amid escalating tensions between CEO Elon Musk and President Donald Trump.
What Happened: During a White House press conference on Monday, Trump confirmed he would retain his Tesla Model S and Starlink. When asked about his plans for the Tesla, Trump said, “I may move the Tesla around a little bit,” and confirmed that the White House would continue to utilize Starlink, describing it as “a good service."
Trump also addressed the recent controversy between Musk and the U.S. government, stating, “I wish him well, you understand. We had a good relationship, I just wish him well, very well, actually.”
The reconciliation between Trump and Musk comes after a period of tension, sparked by Musk’s criticism of the government’s proposed legislation to eliminate subsidies for electric vehicles and solar power.
SEE ALSO: Why Jeff Bezos Might Emerge As The Biggest Winner In The Trump-Musk Feud
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Why It Matters: This news also comes amid Tesla’s recent successes. Tesla’s Model Y topped the SUV sales chart in China in May, selling over 24,770 units. Tesla found a bright spot in China’s domestic market as the company faced overall declining sales. In May, Tesla’s sales in the region surged more than 34%, boosted by the inaugural export of the updated Model Y.
Additionally, Tesla’s highly anticipated Robotaxi launch in Austin on June 12 has received a major boost, with the company officially named as an Autonomous Vehicle operator by the city.
Image via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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