Tesla, the electric vehicle brand backed by billionaire Elon Musk, is facing a wave of protests, vandalism, and plummeting stock prices amid concerns over its association with right-wing politics and the Trump administration. The company’s reputation has taken a hit after Mr. Musk endorsed Donald Trump in last year’s presidential election and made a gesture that resembled a fascist salute at a rally celebrating President Trump’s inauguration.
Protesters have targeted Tesla dealerships, vandalizing vehicles, damaging facilities, and even setting fires. Some have gone as far as to sell their Teslas, citing feelings of alienation from Mr. Musk’s values and politics. In some cases, owners have been harassed for owning a Tesla. The backlash has led to a significant decline in sales, with the company’s share price dropping by 47% since Mr. Trump’s second term began.
The incident has sparked concern among investors, who fear that Mr. Musk is spending too much time in Washington and alienating buyers. The situation has been labeled as “domestic terrorism” by Attorney General Pam Bondi, who warned of potential sentences of at least five years in prison for those accused.
As the controversy surrounding Tesla continues to grow, it remains to be seen how the company will recover from this latest setback. One thing is certain, however: Mr. Musk’s influence on the company and its values has left many feeling uneasy about their association with the brand.
Source: https://www.nytimes.com/2025/03/19/business/tesla-musk-trump-backlash.html