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Stock futures surge as Trump retakes the White House. Follow our live blog.

What Trump's victory means for EV industry, Musk

Yahoo Finance and Brad Smith

Wed, Nov 6, 2024, 6:29 AM

Wedbush analyst Dan Ives believes a Donald Trump presidency would be "a huge positive" for Tesla (TSLA) and its CEO, Elon Musk, a strong supporter of the president-elect. However, automakers like Tesla, Ford (F), General Motors (GM), Stellantis (STLA), and Rivian (RIVN) could feel the impact if Trump were to repeal EV tax credits.

Yahoo Finance Anchor Brad Smith breaks down some of the big takeaways in the video above.

For more market reaction to the 2024 election, click here.

This post was written by Kevin Hall