Tesla Inc (NASDAQ: TSLA) CEO Elon Musk appeared to be amused by a speech given by President Joe Biden in which the U.S. leader praised the role of Detroit-based traditional automakers in leading the world in electric vehicles.
What Happened: Musk responded to a video of the presidents speech, bestowing praise on General Motors (NYSE: GM) and its CEO Mary Barra.
The Tesla CEO replied to a tweet posted by a fan, featuringBidens speech, withtwo Rolls on Floor Laughing emojis.
See Also: How To Buy Tesla (TSLA) Shares
Why It Matters:In the auto industry, Detroit is leading the world in electric vehicles, said Biden.The president's speech made no mention of Tesla, but praise was doled out on Detroits three large car makers GM, Ford Motor Company (NYSE: F), and Stellantis N.V. (NYSE: STLA).
The President test drove an electric Hummer SUV in Detroit on Wednesday as a part of a tour promoting the $1 trillion infrastructure bill.
Biden touched on GMs dramatic announcement on turning completely electric by 2035and credited Barra for changing the whole story surrounding EVs.
Wedbush securities analyst Daniel Ives recently said that conversion of GMs massive customer base to EVs over the coming year represents a transformational opportunity for the legacy vehicle manufacturer.
Musk derided Bidenas "sleeping" earlier in September over the latters lack of acknowledgement of the efforts made by SpaceX, a company he heads, in sending an all-civilian mission to space.
Over the weekend, Musk insulted Sen. Bernie Sanders (I-VT) when the leader demanded that the wealthy pay their fair share of taxes.
Price Action: On Thursday, Tesla shares closed 3.25% higher at $1,089.01 in the regular session.
Read Next: 'Broken Clock:' Elon Musk Fires Back At Michael Burry Over Allegations The World's Richest Person Just Wants To Profit From Tesla Stock Surge
Photo: Courtesy of Heisenberg Media via Flickr
2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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