Dispute with tech billionaire: Trump: Without subsidies, Musk could shut down

In a dispute with tech billionaire Elon Musk, US President Donald Trump is once again publicly attacking the head of electric car company Tesla. "Elon receives perhaps more subsidies than any other person in history, by far, and without subsidies, Elon would probably have to close up shop and go back home to South Africa," Trump wrote on his online mouthpiece Truth Social. "No more rocket launches, satellites, or electric car production, and our country would save a FORTUNE."

The politician and the entrepreneur recently clashed over the tax and spending bill pushed by Trump. The US president wants to implement key campaign promises with it, while Musk, in contrast, is demanding significantly more drastic spending cuts. Just a few hours before Trump's post, the billionaire railed against the bill in a series of social media posts. He also again hinted at the founding of a new political party in the US.

In his post, Trump also referred to the so-called EV mandate – a state requirement in the most populous US state of California, according to which only battery-powered or hybrid vehicles should be sold starting in 2035. This had long been a thorn in Trump's side. In mid-June, he signed resolutions that the Republican majorities in both houses of Congress had passed in the weeks before, thus halting this program.

Musk said he opposed the program long before he endorsed Trump for president. "It's ridiculous and has always been a key part of my campaign. Electric cars are good, but not everyone should be forced to own one."