Aayush Pathak
Tesla and SpaceX CEO Elon Musk has come out to be open to serving in an advisory role in a would-be Donald Trump administration. After recent remarks from Trump that, if he wins the next presidential election, he might have a cabinet position for Elon Musk, Musk responded in a social media post, “I am willing to serve.”
His post featured him standing in front of a podium marked with a whimsical title, “Department of Government Efficiency (DOGE).” This is the name of a very popular cryptocurrency, known as Dogecoin.
Trump’s Remarks on Musk and Electric Vehicle Tax Credits
Speaking at a campaign rally in Pennsylvania, Trump lavished praise on Musk, describing him as “a very smart guy” and a “brilliant guy.” He said that he would consider putting Musk either in his Cabinet or on one of his advisory boards if elected, which already has some people speculating about the prospect of the technology entrepreneur serving in government.
Trump’s comments came alongside his critique of the current $7,500 tax credit for electric vehicle (EV) purchases, which he suggested he might abolish. He stated, “Tax credits and tax incentives are not generally a very good thing,” highlighting his belief that such measures may not be beneficial for the economy.
It comes after Musk recently endorsed former President Trump for the 2024 election. That nod came just days after the former president survived an apparent assassination attempt, which Musk came out to denounce. The endorsement and Musk’s tongue-in-cheek social media posting have fed speculation about the influence he could have on any new administration when it comes to technology and energy policy in particular.
Implications for Electric Vehicle Policies
While Musk responded positively to this, it still remains uncertain whether he would accept a formal offer if it ever came his way. His recent post has further fanned the already burning debate over his possible role in shaping U.S. policy, especially that related to electric vehicles and technological innovation.
If Trump were to follow through with plans to scrap the EV tax credit, that would potentially deal a big blow to Tesla and the general electric vehicle market. This tax incentive has been the single most important incentive for consumers who are thinking of buying electric vehicles, and taking it away could dampen demand for Tesla products. Trump indicated a desire to roll back regulations encouraging EV production, which may not jibe with the actuality of the market.
GIPHY App Key not set. Please check settings