Trump Praises Elon Musk But Slams Biden’s All-Out EV Strategy As Mandate Formed By ‘Very, Very Stupid People’
Donald Trump on Monday said he expects the nation’s auto workers to throw their weight behind him as he doubled down on his criticism of President Joe Biden‘s all-electric strategy.
What Happened: In a CNBC interview, Trump confirmed a rumored meeting with Tesla CEO Elon Musk, stating that while he aided the billionaire during his presidency and liked him, they held opposing views on electric cars.
He clarified that he wasn’t anti-EV but emphasized the need for alternative options.
“I’m all for electric cars, but you have to have all of the alternatives,” he said. “Also, you can’t just go to electric. I mean, you have a grid system in this country that’s obsolete and disastrous. They can’t produce the electricity. It can’t distribute the electricity.”
“[Joe] Biden’s all-electric mandate is by very, very stupid people,” he said EVs don’t go far, referring to range anxiety. He also raised alarms about China flooding the U.S. market with low-cost EVs.
Counting On Auto Workers: Trump expressed confidence in auto workers’ support for him, although he doubted the loyalty of union leaders.
“I don’t know about that top union people because they’re just riveted into Democrats,” he said. “They have no idea why they’re like blind sheep.”
He pointed to his lead in Michigan, emphasizing his unexpected traction in traditionally Democratic territories. “Look at my numbers in Michigan. I’m leading him [Biden] by 12 or 14 points. It’s always hard for a Republican, but not now. We’re leading in a lot of places that Republicans don’t lead,” he said.
See Also: Best Electric Vehicle Stocks
Why It’s Important: Biden has aligned himself closely with auto workers, a move that earned him the United Auto Workers (UAW) endorsement after he showed support during a major strike last year.
Biden’s administration has prioritized clean energy and electric vehicles, evidenced by the Inflation Reduction Act of 2022, which aims to reduce carbon emissions by 40% by 2030. The act includes provisions such as extending the EV federal tax credit and promoting EV charging infrastructure.
The Biden administration’s engagement with legacy automakers over EVs has drawn criticism from Tesla’s Musk, who felt sidelined from discussions.
Trump’s reference to Chinese competition reflects concerns about potential disruptions in the U.S. market, with worries about Chinese EV manufacturers setting up operations in Mexico to bypass duty restrictions, creating an uneven playing field for American companies.
The KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:KARS) ended Monday’s session up 1.71% at $22.66, according to Benzinga Pro data.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Image made via photos on Shutterstock
