The auto industry experienced a turbulent week, with President Donald Trump hinting at potential tariffs on automobiles. Meanwhile, Uber Technologies Inc.’s CEO Dara Khosrowshahi expressed optimism for a partnership with Tesla, and Elon Musk’s Boring Company announced plans to build a Dubai Loop.
Trump’s aggressive trade policy has set its sights on the auto industry, with the possibility of imposing tariffs as early as April 2. This move follows his previous targeting of other industries. Tesla’s stock has also been affected, plummeting over 25% from its December peak.
Analysts predict another downward move in Tesla’s stock, potentially tumbling 12% below current levels. However, Uber CEO Khosrowshahi remains optimistic about a potential partnership with Tesla, stating he does not wish to compete against the company.
Musk’s Boring Company has entered into an agreement with Dubai to build a loop system capable of transporting over 20,000 passengers per hour. Meanwhile, SpaceX’s Starbase facility is set to become an official city, following a judge’s order for its incorporation as a new municipality.
Source: https://www.benzinga.com/tech/25/02/43759231/trumps-auto-tariffs-teslas-stock-plunge-ubers-tesla-partnership-musks-dubai-loop-and-starbase-city