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.
The U.S. Supreme Court has cleared the way for the Trump administration to revoke temporary legal status for over 500,000 migrants, putting them at risk of deportation while legal challenges continue.
The Kremlin has dismissed criticism from U.S. President Donald Trump, who warned that Vladimir Putin is "playing with fire" by avoiding ceasefire talks with Ukraine, saying Russia's national interests remain the top priority.
The Trump administration has temporarily halted new student visa appointments at U.S. embassies worldwide, as it prepares to tighten scrutiny of international applicants' social media profiles — a move that could impact universities and foreign students alike.
U.S. President Donald Trump will host South African President on Wednesday for crunch talks over alleged "genocide" on white farmers and other racial issues highlighted by the Trump. Ramaphosa is hoping to use the opportunity to revive US-South Africa relations, currently at its lowest since 1994.
U.S. President Donald Trump to speak with Presidents Putin and Zelenskyy on Monday to discuss efforts toward peace in Ukraine.
The U.S. FDA has approved Moderna’s next-generation COVID-19 vaccine, mNEXSPIKE, for adults aged 65 and older and those aged 12–64 with risk factors, marking a major step under tighter regulations.
Leaders of Central Asian countries and Italy convened in Astana for the first Central Asia–Italy summit, culminating in the adoption of a Joint Declaration aimed at deepening political, economic, and cultural cooperation.
At the Astana International Forum, senior officials from Kyrgyzstan and Afghanistan held talks to strengthen bilateral cooperation, with a focus on trade, economic collaboration, and regional stability.
In a landmark moment for artists’ rights, Taylor Swift has officially bought back the master recordings of her first six albums, ending a long-running dispute over who controls her music.
The Centers for Disease Control and Prevention (CDC) confirmed Friday that COVID-19 vaccines are still recommended for healthy children aged 6 months and older—if their doctors agree.
AnewZ takes to the streets of Yerevan and Baku to ask a simple yet deeply complex question: How do you see peace between Armenia and Azerbaijan? In the first part of our special report, we hear the hopes, doubts, and scars still shaping people’s perspectives on both sides.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
In a landmark moment for artists’ rights, Taylor Swift has officially bought back the master recordings of her first six albums, ending a long-running dispute over who controls her music.
A 61-year-old man in Alaska rescued after being trapped facedown under a massive 700-pound boulder in a freezing glacier-fed creek for three hours.
Two foreign nationals were indicted Friday in California and Wisconsin for allegedly trying to smuggle sensitive U.S. military technology to China and target an American dissident critical of Beijing.
The Federal Aviation Administration has ordered an accident investigation into SpaceX’s latest Starship test flight, which ended with the spacecraft spinning out of control and breaking apart over the Indian Ocean.
Czech Justice Minister Pavel Blažek resigned Friday after opposition parties called for his removal over a controversy involving bitcoins donated to the Ministry of Justice.
The U.S. FDA has approved Moderna’s next-generation COVID-19 vaccine, mNEXSPIKE, for adults aged 65 and older and those aged 12–64 with risk factors, marking a major step under tighter regulations.
Leaders of Central Asian countries and Italy convened in Astana for the first Central Asia–Italy summit, culminating in the adoption of a Joint Declaration aimed at deepening political, economic, and cultural cooperation.
At the Astana International Forum, senior officials from Kyrgyzstan and Afghanistan held talks to strengthen bilateral cooperation, with a focus on trade, economic collaboration, and regional stability.
In a landmark moment for artists’ rights, Taylor Swift has officially bought back the master recordings of her first six albums, ending a long-running dispute over who controls her music.
The Centers for Disease Control and Prevention (CDC) confirmed Friday that COVID-19 vaccines are still recommended for healthy children aged 6 months and older—if their doctors agree.
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