The $7,500 tax credit for buyers of electric vehicles could be vanishing early in the new Trump administration, but that might actually be good news for Tesla and its CEO Elon Musk, one of President-elect Donald Trump’s most prominent backers.

Elon Musk has said ending tax credits of up to $7,500 for electric vehicle purchases would "devastate" Tesla's competitors.

Tesla Inc. recalled the Cybertruck a sixth time since the electric pickup launched a year ago, this time over an issue that could lead drivers to lose propulsion and have to pull over to the side of the road.

The Tesla Cybertruck was recalled for the sixth time this year — and the fix won’t involve an easy software update. Tesla voluntarily issued a recall for approximately 2,431 Cybertrucks manufactured between November 6,

Tesla said a defect could cause the electric truck to lose driver power and pledged to replace the affected part for free.

Tesla should take advantage of its stock’s post-election surge to raise capital by selling shares, a Jefferies analyst says.

The company’s CEO has been appointed to a new government role by President-elect Donald Trump, but there are more factors at play for the EV maker.