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Fortune
Fortune
Christiaan Hetzner

Elon Musk pledges to double Tesla car production in U.S. in bid to boost Trump's fortunes—and his own

Elon Musk Tesla Inc. Donald Trump United States
US President Donald Trump and Tesla CEO Elon Musk speak to the press as they sit in a Tesla vehicle on the South Portico of the White House. (Credit: Mandel Ngan—AFP via Getty Images)
  • Musk hopes his news can rebuild confidence in Tesla's growth story and bolster its sagging stock price as markets lose faith in Trump's administration. Instead of solving America’s most pressing economic problems, voters have a president escalating trade wars with allies and an entrepreneur whose cost-cutting efforts might be doing more harm than good.

Looking to turn the page on an atrocious start to the new year, Tesla CEO Elon Musk promised President Trump he would double his carmaker’s U.S. production during his second term. 

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