The stock is down about 30% year-to-date, with Musk’s political affiliation with Trump weighing it down in previous months.

So far in 2025, Tesla has spent $240,000 lobbying Washington in favor of the electric vehicle (EV) tax credit, along with other EV polices, but the policy remains on the chopping block if President Donald Trump 's "big beautiful bill" passes into law.

"The easiest way to save money in our Budget … is to terminate Elon's Governmental Subsidies and Contracts," Trump said in a post.