Trump Says He Would Offer Musk A 'Cabinet Role' if He Wins Election
AInvestTuesday, Aug 20, 2024 5:29 am ET
1min read
TSLA --

Former President and Republican presidential candidate Donald Trump said on Monday that if he returns to the White House, he will offer Tesla CEO Elon Musk a cabinet position or a government advisory position.

In an interview with the media, Trump said: He's a very smart guy. I certainly would, if he would do it.

Previously, Musk has expressed his intention to serve in the Trump administration. Last week, Musk interviewed Trump. During the interview, Musk called for the establishment of a government committee to ensure the effective use of taxpayer funds and volunteered to serve in a key position on the committee.

Musk said: I think it would be great just to have a government efficiency commission that looks at these things to make sure taxpayer money is spent in a good way. I'd be happy to help out on such a commission.

Although Trump is willing to let Musk serve in his government, he also said he would consider canceling the $7,500 tax credit for some new electric vehicles.

Tax credits and tax incentives are not generally a very good thing, Trump told the media after a campaign event in York, Pennsylvania. I'm not making any final decisions on it. I'm a big fan of electric cars, but I'm a fan of gasoline-propelled cars, and also hybrids and whatever else happens to come along.

Trump also revealed that he plans to repeal a series of policies introduced by the current Biden administration to encourage car manufacturers to increase the production of electric and plug-in hybrid vehicles.

From the above statements, Trump's electric vehicle-related policies may affect Tesla's business.

Trump previously said that although Musk supports him, he opposes everyone owning electric cars. Elon Musk supports me, he is my friend, he is a good person, and he is smart, but I oppose everyone owning electric cars, Trump said at the time.

In July this year, shortly after Trump was nearly assassinated at a campaign rally in Pennsylvania, Musk announced his support for Trump.

Trump will face off against Democratic presidential candidate and Vice President Kamala Harris in the November election.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.