Trump Backs Musk Amid Tesla Turmoil

U.S. President Donald Trump announced plans to buy a Tesla vehicle in support of Elon Musk amidst protests and falling stock prices. Musk, aligned with Trump's government efficiency efforts, faces backlash due to political ties and declining Tesla sales, affecting the company's market value.

In a move of solidarity, U.S. President Donald Trump has pledged to purchase a new Tesla car, showing his support for Elon Musk amidst a turbulent period for the electric carmaker. The gesture comes as Musk finds himself in controversy, partly due to his political activities with the Trump administration.

Recent weeks have seen significant demonstrations against Tesla, including a large protest at a dealership in Portland and arrests outside a New York City location. These actions stem from Musk's involvement in government workforce cuts as part of his role in the Department of Government Efficiency.

Musk has expressed gratitude on his platform X for Trump's support. However, Tesla's stock has taken a hit, with its market capitalization more than halving since its $1.5 trillion peak. The decline is attributed to reduced vehicle sales and investor fears over Musk's political entanglements distracting from his business focus.

(With inputs from agencies.)