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Having initially positioned himself as an ally of the American car industry but an opponent of the electric vehicle (EV) sector, Donald Trump quickly caused significant speculation on what his reelection would mean for the biggest player in the field, Tesla Motors (NASDAQ: TSLA). More recently, a political alliance between the long-time Democrat, Elon Musk, and the Republican candidate has reignited the debate and moved it more on the bullish side as Trump softened his stance on EVs after receiving tens of millions from the South African-Canadian-American billionaire. Still, the actual fate of TSLA stock in the wake of a possible Republican victory depends, in many ways, on how Tesla is viewed as a company. Could Harris be better for Tesla stock despite the Trump-Musk alliance? On the one hand, Vice President Kamala Harris would likely be more beneficial for the entire EV industry – and for Tesla as the biggest such company in the collective West – as the Democratic Party has been far keener on pushing a green transition. Such an argument becomes particularly pointed out once the fact that many of Musk’s companies have benefited heavily from government contracts, subsidies, and stimuli, receiving a total of $4.9 billion already by 2015. This setup would mean that a Republican administration – more concerned with the ‘drill, baby, drill’ slogan than the climate catastrophe – could take a toll on Tesla.  Additionally, Trump’s love of tariffs – which is, per some interviews, greater than Trump’s love for love – could impose new headwinds on Tesla due to the company’s global supply chains and international production. How TSLA stock could benefit from Republican EV skepticism Still, as has been noted for months, this same approach could also help Tesla by harming the company’s competitors more – Elon Musk’s EV maker…

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Filed under: News - @ October 30, 2024 3:26 pm