U.S. President Donald Trump said on Tuesday he will buy a new Tesla car to show support for the electric carmaker's chief and his ally Elon Musk amid recent "Tesla Takedown" protests and the slump in the company's stock price.
Shares of the automaker rose about 5% in premarket trading, rebounding from the biggest one-day fall in four-and-a half years.
Musk's role in sweeping cuts to the federal workforce at the behest of Trump has led to protests in the U.S. against Tesla.
About 350 demonstrators protested outside a Tesla electric vehicle dealership in Portland, Oregon, last week, while nine people were arrested during a raucous demonstration outside a New York City Tesla (TSLA.O), opens new tab dealership earlier in March.
Musk is spearheading the Trump administration's so-called Department of Government Efficiency, or DOGE.
In a post on his Truth Social platform, Trump defended Musk, saying he was "putting it on the line" to help the country and was doing a "fantastic" job.
"I'm going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American," Trump said.
Musk's reaction
Musk thanked the president for his support on his own social media platform X.
Trump in January took aim at electric vehicles, revoking a 2021 executive order signed by his predecessor Joe Biden that sought to ensure half of all new vehicles sold in the U.S. by 2030 were electric.
Tesla's market capitalization has more than halved since hitting an all-time high of $1.5 trillion on December 17, erasing most of the gains the stock made after Musk-backed Trump won U.S. election in November.
The stock's decline since December stems from falling vehicle sales and profits, protests against Musk's political activity and investor worries that politics was distracting the world's richest man from tending to his cash cow.
Iran's Supreme Leader Ayatollah Ali Khamenei on Wednesday rejected holding negotiations with the United States over a nuclear deal, as a letter was delivered from U.S. President Donald Trump calling for such talks.
Egypt expressed its approval of U.S. President Donald Trump’s recent remarks stating that no Palestinians would be expelled from the Gaza Strip.
As the United Nations marks its 80th anniversary, it seeks efficiency improvements and budget cuts amid ongoing financial constraints.
US and Ukrainian officials have begun talks in Jeddah, Saudi Arabia, to explore the possibility of a peace deal with Russia, with Ukraine proposing a partial ceasefire to regain US support.
President Donald Trump delivered his first major address to Congress since returning to office, striking a triumphant tone as he declared that 'America is back.
Azerbaijan and Armenia have finalized a historic peace agreement, marking a major step toward ending decades of conflict, with both sides agreeing on all remaining articles.
The U.S. is set to resume shipments of Ground-Launched Small Diameter Bombs (GLSDB) to Ukraine after upgrading them to counter Russian jamming, sources told Reuters.
Ukrainian President Volodymyr Zelenskyy's Chief of Staff, Andriy Yermak, has stated that Ukraine will never accept a "frozen conflict," reaffirming the country's commitment to restoring its territorial integrity and sovereignty.
U.S. President Donald Trump said on Thursday that his special envoy, Steve Witkoff, is engaged in serious discussions with Russia to negotiate an end to the war in Ukraine.
Italy’s League party urges the government to favour Starlink over French-led Eutelsat for satellite communication systems, citing Starlink's technological edge. The push comes amid delays in the EU’s IRIS² program, as Italy seeks secure communication solutions for officials.
XPeng Motors plans to mass-produce flying cars by 2026, becoming the first company globally to do so. CEO He Xiaopeng also highlighted advancements in autonomous driving and humanoid robotics as part of the company’s future tech initiatives.
World leaders welcomed the 30-day ceasefire proposal that Ukraine has agreed to, calling it a step toward ending the conflict with Russia.
The Organization of Islamic Cooperation (OIC) is set to condemn Trump’s Gaza “Riviera” plan, backing Egypt’s $53 billion reconstruction proposal. A classified draft resolution, rejects the relocation of Gazans, calls for urgent international support, and mobilises opposition to the U.S. stance.
In Tuesday’s closely watched parliamentary election, Greenland’s pro-business opposition Demokraatit party took a commanding lead after over 90% of the ballots were counted.
The U.S. is set to resume shipments of Ground-Launched Small Diameter Bombs (GLSDB) to Ukraine after upgrading them to counter Russian jamming, sources told Reuters.
Ukrainian President Volodymyr Zelenskyy's Chief of Staff, Andriy Yermak, has stated that Ukraine will never accept a "frozen conflict," reaffirming the country's commitment to restoring its territorial integrity and sovereignty.
U.S. President Donald Trump said on Thursday that his special envoy, Steve Witkoff, is engaged in serious discussions with Russia to negotiate an end to the war in Ukraine.
Canada has initiated a formal dispute complaint against the United States at the World Trade Organization (WTO) over its imposition of import duties on certain steel and aluminium products from Canada.
European Union leaders announced a 4.7 billion euro ($5.10 billion) investment package during a visit to South Africa on Thursday, at a time when both are on worse terms with the United States than they have been for decades.
Azerbaijan and Armenia have finalized a historic peace agreement, marking a major step toward ending decades of conflict, with both sides agreeing on all remaining articles.
The U.S. is set to resume shipments of Ground-Launched Small Diameter Bombs (GLSDB) to Ukraine after upgrading them to counter Russian jamming, sources told Reuters.
Ukrainian President Volodymyr Zelenskyy's Chief of Staff, Andriy Yermak, has stated that Ukraine will never accept a "frozen conflict," reaffirming the country's commitment to restoring its territorial integrity and sovereignty.
U.S. President Donald Trump said on Thursday that his special envoy, Steve Witkoff, is engaged in serious discussions with Russia to negotiate an end to the war in Ukraine.
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