Elon Musk isn't worried about Donald Trump stopping the rise of electric cars. In fact, he thinks it's impossible. "At this point, I think that sustainable transport is inevitable," Musk told investors. 

Musk compared the shift to EVs to the transition from horse-drawn carriages to automobiles. "Even if you were the biggest horse advocate on Earth, you couldn't stop the advent of the automobile. And you can't stop the advent of electric cars," he said on a call late last month to discuss Tesla's TSLA latest quarterly results.  

The biggest hurdle for EVs used to be range, but Musk says that's no longer an issue. With more charging infrastructure and better battery technology, people aren't as hesitant to switch. Still, the political scene is shifting, and some wonder what that means for Tesla and the industry as a whole.  

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One of Trump's first moves in office was to undo Joe Biden's goal of having 50% of new car sales be electric by 2030. He also wants to get rid of the federal EV tax credit, which gives buyers up to $7,500 in incentives. 

That could make EVs a harder sell, but Musk isn't too concerned. In fact, he's actually in favor of ending those subsidies. 

"Take away the subsidies. It will only help Tesla," he said on X last July. His argument? Tesla has already built a strong EV business, while other automakers still rely on incentives to stay competitive.  

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That doesn't mean everything is smooth sailing for Tesla. According to Electrive, EV sales in the U.S. grew by only 7.3% in 2024, reaching 1.3 million units. That's just a slight bump from 7.8% to 8.1% of total car sales. Meanwhile, Tesla's own sales dropped by 5.6% to 633,762 vehicles—their first annual decline in over a decade.  

But Musk believes Tesla's real edge isn't just in electric cars; it's in self-driving technology. "There is a path where Tesla is worth more than the next top five car companies combined… and that is overwhelmingly due to autonomous vehicles and autonomous humanoid robots," he said on the Jan. 30 earnings call.   

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Tesla is also making adjustments based on new policy changes. For example, the company had planned to expand into Mexico, but Musk recently put that on hold after Trump suggested heavy tariffs on Mexican-made cars. "Trump has said that he will put heavy tariffs on vehicles produced in Mexico, so it doesn't make sense to invest in Mexico," Musk said on a separate earnings call in July amid the 2024 presidential campaign. 

Despite these challenges, Tesla isn't slowing down. The company is rolling out a driverless ride-hailing service in Austin within the next six months and is on track to produce autonomous "cybercabs" by 2026. It's also planning to unveil a working prototype of their Optimus humanoid robot in 2025.  

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