US President Joe Biden ignores Elon Musk\u2019s fears about the US economy by pointing to latest investments made by the electric-carmaker\u2019s competitors. Biden also took an indifferent situation at Musk saying \u201cLots of luck on his trip to the moon\u201d.
Biden, on Friday, warmly praised some of Musk\u2019s competitors for expanding their investments in electric vehicles. The president had been asked about Musk after a speech in Delaware touting the solid jobs report released earlier Friday. The Labor Department said that the US economy added 390,000 jobs in May, better than expected, while the unemployment rate held at the low level of 3.6%.
Musk told executives in an email Thursday that he has a \u201csuper bad feeling\u201d about the economy and will need to cut 10% of Tesla\u2019s jobs. Tesla shares fell on Friday. Asked about Musk\u2019s reported feeling, Biden praised Ford and Stellantis.
\u201cWell, let me tell you, while Elon Musk is talking about that, Ford is increasing their investment overwhelmingly,\u201d Biden said, pulling a notecard from his jacket pocket. \u201cI think Ford is increasing investment in building new electric vehicles, 6,000 new employees, union employees, I might add, in the Midwest,\u201d Biden said, adding that \u201cthe former Chrysler corporation, Stellantis, they are also making similar investments in electric vehicles\u201d.
Biden also noted Intel\u2019s plans to add 20,000 new jobs as part of an investment in Ohio. \u201cSo, you know, lots of luck on his trip to the moon,\u201d Biden said with a wave of his hands.
Musk didn\u2019t immediately respond to a request for comment. But within minutes of Biden\u2019s remark, Musk tweeted \u201cThanks Mr. President!\u201d along with an April 2021 press release from NASA announcing that SpaceX, Musk\u2019s rocket travel company, had been selected to land the next Americans on the moon.
Musk, one of the world\u2019s richest people, is in the midst of a deal to purchase Twitter for $44 billion. He\u2019s recently taken to sharing more politically charged tweets, including one message last month bashing Democrats and vowing to vote Republican.
The president\u2019s put-down marked the latest point of friction with Musk, who has been openly critical of both the White House and Biden himself.
In March, Musk bristled after Biden\u2019s State of the Union address cheered the electric-vehicle efforts being made by Ford and General Motors while failing to mention Tesla. Two months later, Musk slammed the Biden administration as ineffective and said that \u201cthe real president is whoever controls Biden\u2019s teleprompter\u201d.
A spokesman for Biden shot back: \u201cCount us as unsurprised that an anti-labor billionaire would look for any opportunity to nip at the heels of the most pro-union and pro-worker President in modern history\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
US President Joe Biden ignores Elon Musk\u2019s fears about the US economy by pointing to latest investments made by the electric-carmaker\u2019s competitors. Biden also took an indifferent situation at Musk saying \u201cLots of luck on his trip to the moon\u201d.Biden, on Friday, warmly praised some of Musk\u2019s competitors for expanding their investments in electric vehicles. …<\/p>\n","protected":false},"author":13,"featured_media":57491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7214,7389,7974,7296,6858],"class_list":["post-66543","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-biden","tag-ford","tag-musk","tag-tesla","tag-us-economy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/66543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=66543"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/66543\/revisions"}],"predecessor-version":[{"id":66548,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/66543\/revisions\/66548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/57491"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=66543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=66543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=66543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}