During his previous term, Trump repeatedly targeted the electric vehicle industry, such as attempting to eliminate the $7,500 subsidy for electric cars in 2019. However, Trump's stance has subtly shifted recently.

Last month, during a speech in Arizona, Trump continued to criticize current electric vehicle policies but added some new remarks. He stated, “I’m a big fan of electric vehicles and a big fan of Musk. I like Musk. Many people want to buy electric cars, but there should also be options for other types of vehicles because some people need to travel longer distances.”

A few days later, at Tesla’s annual shareholders meeting, an investor asked Musk, “We’re surprised that Trump said he’s a loyal fan of Tesla and you. What did you say to him?” Musk replied with a smile, “Well, you know, I’m very persuasive.”

Musk also added that they often discuss electric vehicle-related topics, many of Trump’s friends now own Tesla vehicles, and Trump is very fond of Tesla’s recently introduced electric pickup truck, the Cybertruck.

Although the specifics of their private conversations are unclear, Trump has gained Musk's full support.

Last week, Musk publicly supported Trump on his social media platform, which has nearly 200 million followers, and mentioned he might fund Trump’s campaign team. For Musk, this means having a friend in the White House who is willing to listen to his opinions.

JD Vance, after being appointed as Trump’s vice-presidential candidate, said, “In some ways, Musk represents the vision of the old generation of American entrepreneurs—he tends to develop tangible things like cars and rockets, which I think is what President Trump hopes to create in the economy.”

Nevertheless, JD Vance proposed a bill last year to reallocate electric vehicle subsidy funds to support American oil cars, and Trump also attempted to eliminate the electric vehicle subsidy bill in 2019. Musk, however, expressed support for this.

“Ending the subsidies would only help Tesla,” he said.