How Trump and Musk Shape the Future of the Automotive Industry

The electric vehicle industry is experiencing intense competition, particularly between Tesla and Lucid. Tesla, with its established production capabilities and dominant market share, is a major player in the market. Lucid, on the other hand, is striving to differentiate itself by offering high-quality luxury electric vehicles. Despite its smaller market capitalization, Lucid has outperformed Tesla in terms of price performance in the last quarter [1dca13a2].

Recent developments have highlighted the intertwined strategies of influential figures like Elon Musk and Donald Trump, both of whom aim to eliminate competition for Tesla. Musk's efforts in the American car industry began with the 2008 launch of the Tesla Roadster, which has been credited with breaking the inertia in the automotive sector [db163bc8]. The implications of their strategies are particularly relevant in the context of the upcoming 2024 US elections, as both figures navigate the political landscape to bolster their respective interests in the automotive market [db163bc8].

In Australia, the government has taken steps to ensure that consumers are not misled by conducting 'real world' emissions testing on popular vehicles [164a5948]. In the United States, Tesla is urging the Biden administration to implement stricter fuel economy standards, while other automakers have criticized the proposal [dc566bdb] [a7fcd7bb]. Biofuels and agriculture groups are calling for a reconsideration of fuel economy standards and incentives for flex-fueled vehicles [8763686c]. Lucid Group has reported an increase in deliveries of its luxury electric sedan, indicating the success of the electric vehicle market [a7fcd7bb]. Tesla, under the leadership of Elon Musk, is advocating for stricter fuel economy regulations and the discontinuation of a credit program that favors gas-powered vehicles [5863c056].

The competition between Tesla and Lucid in the electric vehicle industry, alongside the strategic maneuvers of Musk and Trump, highlights the ongoing efforts to improve fuel economy and transition to electric vehicles [1dca13a2].