Tesla Inc.’s stock rose 2% early Tuesday, boosted by expectations that Chief Executive Elon Musk’s close relationship with the new administration will help the electric-vehicle maker, and further buoyed by a bullish note from Piper Sandler.

President Donald Trump vowed to eliminate the electric vehicle mandate in his inaugural address. There is no mandate. His statement can mean a few things for Tesla and the U.S. auto industry. “We will end the Green New Deal and we will revoke the electric vehicle mandate,

President Trump revoked the executive order signed by former President Biden in 2021 that ensure 50% of all new vehicles sold in the U.S. would be electric by 2030. In his inauguration speech, President Trump decided to undo what he labeled as the electric vehicle mandate to save the U.

America’s 47 th president, Donald J. Trump, has wasted no time wielding his powers on the automotive industry, signing an executive order to scrap Joe Biden’s EV “mandate” shortly after his inauguration.