As the CEO of SpaceX and Tesla, co-founder of Neuralink and OpenAI, and founder of The Boring Company, Musk is well-known for his innovative and ambitious personality. His controversial ideas occasionally attract the tech world’s attention.
Musk’s entrepreneurial journey began with Zip2, which provided newspaper business directories and maps. His career milestone was Founding SpaceX in 2002. SpaceX’s primary goal is to reduce space transportation costs and make space exploration more accessible. His decisions have received both positive and negative feedback from society. His outspoken nature on social media has led to legal and financial challenges.
Elon Musk announced that Tesla Inc. will pause investments in its planned factory in Mexico until after the US election due to concerns about political risks from Republican nominee Donald Trump’s proposed increased tariffs on goods made in Mexico.
“We need to see the situation after the election,” he said on Tuesday. Furthermore, he said, “Trump has said that he’ll put heavy tariffs on vehicles produced in Mexico, so it doesn’t make sense to invest a lot in Mexico if that is going to be the case. We kind of need to see where things play out politically.” This is the first time he has given a statement on the election regarding his business decisions.
When asked how a Trump presidency could impact Tesla, Musk demurred how Trump’s plan to gut the IRA would affect the carmaker. Tesla’s business has received a big boost through manufacturing and investment tax credits through the IRA.
“It would be devastating for our competitors, and it would hurt Tesla slightly,” said Musk about the IRA being cut or reversed. “The value of Tesla overwhelmingly is autonomy.”
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