The Beast: Trump’s visit to the White House and his dealings with a private company in the era of privatization, government efficiency and competition

President Trump stepped into a car outside the White House on Tuesday afternoon — but not the usual high-security presidential limousine known as “The Beast.”

That the president made such a public backing of a private company is unusual, and a possible ethical violation. The White House did not immediately respond to a request for comment on if ethics rules were followed.

Trump’s purchase is also another example of Musk blurring the line between his roles in government, where he leads the administration’s government efficiency effort, and in the private sector, as the head of Tesla, SpaceX and X, formerly known as Twitter. His companies receive billions in federal contracts, even as the administration slashes spending across the government.

The display may violate federal rules prohibiting the use of public office for private gain, though those rules do not apply to the president, as was stated by Richard Painter, former chief White House ethics lawyer.

“It looks like a way of saying this economy will be driven by favoritism,” Painter said. “It looks like government picking winners and losers, and the government saying, ‘Tesla is the winner.’ “

It was said that Trump would pay for it with a check and would keep the car at the White House.

Non-Tesla EV sales continued to grow even as sales of Palo Alto’s electric vehicle manufacturer plummeted. According to Cox automotive’s Kelley Blue Book, the US bought a new record of 1.3 million electric cars. 8.1 percent of the US market is for EV’s.

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“I think he’s been treated very unfairly by a very small group of people, and I just want people to know that he can’t be penalized for being a patriot, and he’s a great patriot, and he’s also done an incredible job with Tesla,” Trump said of Musk.

Musk has also actively gummed up the works for a cheaper Tesla vehicle. Last year, he reportedly canceled the company’s plans to build a low-cost electric vehicle in favor of going all in on a robotaxi. He claimed that the Model 3 and Model Y would also be built on the same platform as the cheaper one, but some people said that wasn’t true. Now, investors are worried that this new vehicle will cannibalize Model 3 and Model Y sales rather than boost the company’s profits overall.

But that was pre-DOGE, before the salute, and before the stock wipeout. Tesla’s board is clearly feeling the pinch. James Murdoch, the son of Murdoch, sold millions of dollars worth of shares in the past month.

Protesters are outside of the showrooms protesting against the takeover of the federal government by Musk, as well as damage to the stock price and possibly even the net worth of the richest man in the world.

Musk now believes that Tesla is on the verge of solving autonomy. He says that there will be fully self-drive vehicles around a decade from now. “Optimus has the potential to be north of $10 trillion in revenue,” he said during the most recent earnings call, referring to Tesla’s humanoid robots.

Meanwhile, Kia and Volkswagen have announced plans to actually produce affordable EVs. China has cracked the code on budget priced, highly affordable electric vehicles. The Seagull, a BYD vehicle, was the best-selling vehicle in the country last summer, with 190 miles of range and a sticker price of around $10,000. The Seagull would be much cheaper than most US-made EV if there were a 100 percent tariffs.

For years, Musk has been promising to make an affordable electric vehicle, likely priced at $25,000. He said in an interview that they can do something with a $25,000 car. At the company’s first battery day event in 2020, he speculated that the company could make up to 20 million of these vehicles a year, beating current production of Toyota, GM, or Volkswagen.

A frequent criticism you see about Tesla is that the company’s vehicle lineup is getting a little long in the tooth. The Model X turns 10 this year, while the Model S is pushing 15. Since their initial launch, both vehicles have only received minor updates. (A Tesla executive promised a refresh later this year.)

And unlike BYD, Tesla doesn’t sell any hybrid or gas-powered vehicles. It has nothing to fall back on when consumers feel anxious about the future of electric vehicles.

Source: Is Tesla cooked?

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He has 10 years of experience covering EV, public transportation, and aviation. His work has appeared in The New York Daily News and City & State.

The wipeout wiped out over $800 billion in market values, the largest drop in years. Musk had his net worth slashed by over $100 billion. He is still the richest man in the world.