Elon Musk says that the back of the Doge government’s cuts hurts Tesla

Tesla CEO Elon Musk said on Sunday that his involvement in the Trump administration could affect the actions of the automaker.

Explaining during an event of the town hall in Wisconsin, Musk said that his role with the so -called Department of Government Effectiveness – which puts pressure on the abolition of generalized general jobs – creates a backlash against his company with electric cars and harms the stock.

“What they are trying to do is do a massive pressure, and Tesla, I guess, to … stop doing this,” said Musk, according to Bloomberg News. “My stock of Tesla and the stock of all those who hold Tesla have left, went almost in two. I mean it’s a big problem.”

Tesla’s shares entered on Monday already down more than 34% over the year, and the stock was reduced to half of its peak in December. The shares decreased by an additional 6% of premature negotiations on Monday.

The drop in stock could be a long -term “purchasing opportunity”, said Musk, who was in Wisconsin before an election of the Supreme Court of the State. Musk campaigned for the conservative candidate and spent more than $ 12 million on the race, in addition to giving a million dollars each to two voters at the Sunday rally for signing a petition against “militant judges”.

The collapsing stock is not the only sign of public anger with Musk for his political work. Protesters demonstrated at Tesla dealerships during the weekend, and there have been vandalism reports against vehicles and dealers across the country.

The role of Musk in politics is not limited to Doge. He publicly campaigned with Trump in 2024 and was a regular presence at the White House since the new administration took over in January. He also regularly comments on many different political subjects on X, the social media society he has.

The growing political profile of the CEO comes in the midst of signs that Tesla’s main activities slow down. Deliveries of vehicles from the car manufacturer decreased in 2024 and preliminary data showed that sales are decreasing again at the start of this year, especially in Europe. In a note to customers on Sunday, the investment company Stifel has reduced its course objective objective and lowered its sales projections for Tesla.

Musk’s political relations may not be the only reason for Tesla’s difficulties. Other American car actions have also worked in recent weeks, in part because of threats of higher prices on goods imported into the United States and reprisals of trade partners abroad, adding uncertainty to an industry whose supply chains are closely woven among the United States, Canada and Mexico.