Trump wants more hybrids and fewer electrics, so he calls Elon Musk

Presidential candidate promises to 'go back to drilling' to restore US debt. Electricity OK, but 'Americans want more'

By: Alberto Carmone

Aug 17, 2024 at 3:03am ET

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'Scam' and 'rip-off'. This is how Donald Trump sees the 'Green New Deal', the Joe Biden administration's maxi plan for the energy transition that envisages - among other things - 50 per cent electric cars sold in the US by 2030.

The Tycoon presidential candidate in November called it a 'Green New Scam' and promises an immediate change of course should he receive a second term in the White House.

The ambiguous alliance with Musk

The attack on Biden and rival Kamala Harris took place during a meeting organised at the golf club owned by Trump in Bedminster. For Trump it is necessary to 'get rid of the rules' of the Green New Deal because they 'don't work'.

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A position made ambiguous, however, by his strong friendship with Elon Musk, who has publicly declared his support for Trump. But here's the compromise: 'Elon is a great entrepreneur, but I told him in a recent meeting that I have a problem,' Trump said during the Bedminster press conference. 'I'm in favour of electric cars, but they're only a small part of the market. They are incredible, but people want petrol and hybrid cars. Elon understood that."

Election promises

In short, the presidential candidate's signal is pretty clear, with Trump declaring a willingness to 'start drilling again to bring the prices of everything down'.

Indeed, according to the former US president, electricity costs could be halved within a year thanks to the US's abundant oil reserves. The tycoon's idea is to use the savings from lower oil imports to pay off some of the growing US debt. In addition, he has promised large investments in infrastructure and in 'things the US really needs'.

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Should Trump be elected president for a second time, therefore, the impression is that the American auto industry will have to review its strategies. An aspect that might not be digested very well by the stars and stripes brands, which have long since started investing billions of dollars in the transition to electric.