When the CEO of an electric car company becomes a major political donor, things can get complicated. Ross Gerber, co-founder of investment firm Gerber Kawasaki, thinks Tesla Inc. (TSLA) CEO Elon Musk deserves part of the blame for America's recent backslide on electric vehicles.
Investor Ross Gerber Blames Elon Musk For America's EV Slowdown
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Capturing The Frustration
Gerber quoted a post on X Thursday from user TeslaTruckClub, who shared an article venting frustrations about Musk and the broader scaling back of EV efforts in America. The post argued that Musk is "personally partially responsible" for slowing down the country's shift toward sustainable transportation and energy.
"I think this capsulizes many people's thoughts on tesla/elon," Gerber said, suggesting he's far from alone in his concerns. The criticism stems from Musk's deep relationship with President Donald Trump.
The billionaire didn't just support Trump's campaign—he bankrolled it, donating over $250 million and playing a key role in securing Trump's second term during the 2024 Presidential Election. Trump has publicly praised Musk for his support. Since taking office, Trump has announced multiple policy changes that undercut EVs and clean energy. He's also claimed to end former President Joe Biden's "war on internal combustion engines" while criticizing what he calls an "EV mandate."
A Warning About Tesla's Direction
This isn't Gerber's first public concern about Tesla. He previously expressed worry about the company's decision to offer Full Self-Driving technology as a subscription service only, eliminating the $8,000 upfront payment option. Gerber warned the move could signal that Tesla's technological advantage over competitors is starting to fade.
Musk Celebrates Lithium Achievement
On a more positive note for Tesla, Musk has been promoting the company's new lithium refinery, which he says is the largest facility to extract lithium oxide from spodumene—a naturally occurring ore that's a crucial source of lithium. The element is essential for EV batteries and Tesla's energy storage business, which hit a record 14.2 gigawatt-hours in Q4. The facility is also the first of its kind in the United States, according to Tesla.
Price Action: TSLA declined 0.14% at market close on Wednesday to $438.57, but gained 0.21% to $439.49 during after-hours trading.
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