ISTANBUL, July 1 (Bernama-Anadolu) -- Shares of United States-based electric vehicle (EV) manufacturer Tesla dropped sharply on Tuesday amid a renewed public spat between CEO Elon Musk and US President Donald Trump, Anadolu Ajansi (AA) reported.
As of 1420 GMT local time, Tesla’s share price fell around 4 per cent to US$303.45, bringing the company’s market capitalisation down to approximately US$947.2 billion.
The decline marks an 11 per cent drop in Tesla’s stock value over the past month, driven largely by growing tensions between Musk and Trump following the controversial “Big Beautiful Bill.”
The dispute escalated on Tuesday after Musk reiterated his opposition to the Republican-backed omnibus bill, vowing to launch a new political party if it is passed by Congress.
In response, Trump said the billionaire might “head back home to South Africa” if federal subsidies for EVs are eliminated, and later added he would “take a look” at the possibility of deporting Musk.
The relationship between Musk and Trump -- once defined by cooperation and occasional praise -- has deteriorated since Musk began openly criticising the bill in late May.
-- BERNAMA-ANADOLU
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