PANews reported on November 10 that according to Fortune magazine, as the results of the US election settled, Musk's investment in supporting Trump, which was seen as a gamble by the outside world, has received obvious and immediate returns. It is reported that Musk may try to lobby Trump to give up his opposition to the Biden administration's electric vehicle tax credit policy and encourage the purchase of electric vehicles. Tesla's stock price rose sharply after Trump delivered his victory speech. Investors expect that the Trump administration will stop federal investigations and enforcement actions against Tesla, especially those against its autonomous driving software.
In addition, the relationship between the Federal Aviation Administration and SpaceX is very tense. In September, Musk asked the Federal Aviation Administration Director Michael Whitaker to resign because SpaceX was fined $630,000 for violations in launching rockets. Musk said he plans to set up a Department of Government Efficiency (DOGE) under the Trump administration, and the work plan includes relaxing regulations on its rocket launches. Trump himself has also suggested that Starlink's satellite service be used to provide network connectivity in rural areas as part of the government's future $42 billion broadband investment plan, which is a potential financial benefit for Starlink.
Musk, whose generative AI startup xAI has a chatbot that competes with OpenAI’s ChatGPT and other large language models, could intervene to suggest that Trump adopt a more lenient alternative to the Biden administration’s AI executive order. In California, Musk supports controversial safety legislation SB 1047, which would restrict large AI companies, a legislation that has been fiercely opposed by venture capitalists and large developers, citing the potential for catastrophic risks posed by AI.
