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.
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Iran’s newly appointed supreme leader, Mojtaba Khamenei, is reportedly in good health and staying in a “safe place”, despite earlier reports that he had been injured during recent U.S.-Israel airstrikes, according to the country's president.
U.S. President Donald Trump and UK Prime Minister Keir Starmer spoke by phone on Sunday as tensions between Washington and Westminster deepened over the conflict involving Iran. The call came less than a day after Trump criticised Britain’s response to U.S. strikes on Iranian targets.
Officials in Azerbaijan have said they have stopped terror attacks in Azerbaijan including on an Israeli Embassy, the Baku-Tbilisi-Ceyhan pipeline and a Synagogue. Tensions between regional and global powers escalate. Military activity, security alerts and travel disruptions continue.
Newly released FBI records summarising interviews with an unidentified woman contain allegations that U.S. President Donald Trump attempted to force her to perform a sexual act when she was a teenager, according to documents published by the U.S. Justice Department.
The 32 countries belonging to the Internatioanl Energy Agency agreed to release 400 million barrels of oil on Wednesday (11 March), in efforts aimed at bringing down the price of crude oil, which has soared since fighting between Iran, Israel and the U.S. started at the end of February.
The U.S. should shut down its military bases in the Middle East, Iran's new Supreme Leader Mojtaba Khamenei said on Thursday (12 March). His words were read out by a broadcaster on state Iranian television.
A towering lava fountain from Kilauea shot about 400 metres into the air late on Tuesday (11 March) on Hawaii Island, prompting temporary closures at Hawaii Volcanoes National Park and part of a key highway as volcanic ash and debris fell over nearby areas.
More than 68,000 children in eastern Afghanistan have been displaced after clashes between Afghan and Pakistani forces intensified along the border, according to a new report by Save the Children.
Norwegian police apprehended three brothers suspected of carrying out Sunday's (8 March) bombing at the U.S. embassy in Oslo, in an attack investigators have branded an act of terrorism.
Freight transport on the China–Europe Railway Express grew strongly in the first two months of 2026, highlighting the growing importance of rail links between Asia and Europe. The network moved about 352,000 shipping containers between January and February, a 25% increase from a year earlier.
At least 64 people have been killed in southern Ethiopia following recent landslides and floods, the regional government’s communications office said on Thursday (12 March), citing local police
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 12th of March, covering the latest developments you need to know.
Norwegian police apprehended three brothers suspected of carrying out Sunday's (8 March) bombing at the U.S. embassy in Oslo, in an attack investigators have branded an act of terrorism.
Oil prices continue to fluctuate as a result of the conflict in the Middle East with Iran and the insecurity of ships sailing through the key Strait of Hormuz route. Iran has said it will target any ship linked to the U.S., Israel or their allies.
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