Electric vehicle (EV) giant Tesla (TSLA) is facing several attacks on its facilities, vehicles, and charging stations, raising concerns about its future. These protests, called the “Tesla Takedown,” target both Tesla and its CEO Elon Musk. Despite this, U.S. President Donald Trump has voiced support for Musk and slammed efforts to boycott TSLA. He disclosed plans to buy a Tesla car as a show of confidence in Musk, calling him a “truly great American.”
These attacks are tied to Musk’s political influence and his role in the U.S. government’s Department of Government Efficiency (DOGE), which made major federal job cuts. Also, critics blame Musk’s political views and his involvement in budget cuts, saying they hurt public welfare.
Tesla Facilities Under Attack
The attacks on Tesla facilities and cars include fires, vandalism, and even shootings. For instance, in Colorado, a woman attacked a Tesla dealership several times, throwing Molotov cocktails and spray-painting hateful messages. In Massachusetts, Tesla charging stations were set on fire.
Importantly, anti-Tesla sentiment is not limited to the U.S.; similar protests and attacks have been reported in Europe and other regions, often tied to Musk’s political actions.
These incidents, fueled by political and social tensions, have not only caused physical damage but also harm to Tesla’s brand image and investor confidence. Tesla stock has declined about 45% year-to-date.
Musk’s Politics Hurting Tesla Sales in China?
China’s Passenger Car Association (CPCA) warned that Musk’s involvement in politics could hurt Tesla’s already falling EV sales. Secretary General Cui Dongshu noted that TSLA is being seen as political, which is affecting the company in the short term.
It is worth highlighting that Tesla’s shipments in China plunged 49% in February, partly due to a Model Y upgrade. Meanwhile, overall EV sales in China grew 80% during the same period, reflecting TSLA’s struggles.
Is TSLA Stock a Buy?
Turning to Wall Street, TSLA stock has a Hold consensus rating based on 13 Buys, 11 Holds, and 12 Sells assigned in the last three months. At $340.31, the average Tesla price target implies a 53.19% upside potential.
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