A boycott of Tesla vehicles is gaining momentum in Germany due to Elon Musk’s consistent meddling in the country’s politics and promotion of a fringe far-right party.
Many analysts and Tesla followers have been alleging that Elon Musk’s social media antics promoting misinformation and meddling in politics are affecting Tesla’s sales, which were down for the first time in a decade last year.
But it is extremely difficult to directly link the two.
However, there are a few direct examples of Tesla’s CEO being directly responsible for Tesla missing out on sales.
Last year, we reported that Rossmann, a German company that operates one of the largest pharmacy chains in Europe, was electrifying its entire corporate car fleet and using Tesla vehicles to do so, but it announced that it would sell all its Tesla vehicles and replace them by other EVs.
The company specifically mentioned “incompatibility between the statements of Tesla CEO Elon Musk and the values that Tesla represents with its products” as a reason for the move.
More recently, Musk has ramped up his comments on German politics, and he has been promoting AfD, a far-right political party that has been labeled as an “extremist organization” in which many members have been promoting neo-nazi ideology.
Musk urged Germans to vote for AfD in the upcoming elections.
This, and his constant promoting of misinformation on X, which X’s unknown “truth-seeking AI” Grok confirmed, have led to a boycott of Musk’s X platform in Germany launched by “more than 60 German and Austrian academic organizations.“
The X boycott is now spreading to Tesla.
After Rossmann, LichtBlick, a large energy company in Germany, is joining the Tesla boycott. The company announced on LinkedIn this week:
We are pulling the plug on Tesla vehicles in our fleet. This decision was made by our management together with the Facilities and Real Estate team..
Kevin Lütje, LichtBlick’s Head of Facilities and Real Estate, commented on the move:
“Elon Musk’s support of Donald Trump and his recommendation to vote for a right-wing populist and right-wing extremist party that is in no way compatible with LichtBlick’s values prompted us to take this step. We are committed to diversity, tolerance and democracy. And of course climate protection and electromobility are extremely important to us. But in the future we will be relying on providers other than Tesla. All current contracts with Tesla vehicles will not be renewed after the contract ends.”
The company said it is “aware that this will not have far-reaching economic consequences for Tesla”, but it wants to set an example.
While it might not have a big impact, Tesla’s sales are already crashing in Germany. Sales are down 41% or about 26,000 units in 2024 versus 2023.
A lot of that decrease can be attributed to reduced EV incentives, but other electric vehicles have faired a lot better than Tesla.
Also, Musk has been focusing on German politics more recently, and therefore, his impact on the market is likely to be felt more in 2025.
Electrek’s Take
“Incompatibility between the statements of Tesla CEO Elon Musk and the values that Tesla represents with its products” is also why I sold my Tesla stocks.
He is steering Tesla away from its noble original mission.
It’s hard to gauge his actual impact on Tesla’s sales, but these are direct examples. If this boycott starts to gain more momentum, maybe (big maybe) Tesla shareholders will start to respond and react appropriately by voting out Tesla’s board, which has been backing Musk at every corner.
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Ruth Porat, President & Chief Investment Officer of Alphabet & Google, speaks during the Reuters NEXT conference, in New York City, U.S., December 10, 2024.
Mike Segar | Reuters
Alphabet‘s Google will invest $25 billion in data center and artificial intelligence infrastructure over the next two years in states across the biggest electric grid in the U.S., the technology company said Tuesday.
Google will also spend $3 billion to modernize two hydropower plants in Pennsylvania to help meet the growing power demand from data centers and AI in the region, according to the company.
The refurbishment of the Pennsylvania plants is part of broader a framework agreement that Google signed with Brookfield Asset Management to purchase 3,000 megawatts of hydroelectric power across the U.S.
Google’s investments in the region comes as the PJM Interconnection is struggling to keep up with rising electricity demand from data centers and industry. PJM is the biggest electric grid in the nation, covering 13 states across the mid-Atlantic and parts of the Midwest and South. It includes the world’s largest data center market in northern Virginia.
President Donald Trump, White House Cabinet officials, tech and energy executives are meeting at Carnegie Mellon University in Pittsburgh on Tuesday to discuss AI investment in Pennsylvania.
Locals call him the “Bicycle hero,” but Texas man Evan Wayne says he’s just doing what he can to help his community after it was cut off due to the recent devastating and deadly flooding tragedy.
When the local Sandy Creek flooded following torrential rains in Texas, it destroyed the only bridge into one community. Residents were cut off from access to supplies, including everything from necessities like food, water, and medicine to basic comforts.
Although the bridge was impassable to cars, volunteers who quickly organized to help the stranded residents found that the damaged bridge could still be traversed on foot. Or in the case of Evan Wayne, it could be covered by an electric bike.
Evan joined hundreds of volunteers who answered the call of grassroots organizers by working together without any official capacity. While many started by hand-pulling garden carts of supplies uphill to reach the stricken community, Evan jury-rigged a trailer to an e-bike and took on as much of the load as he could, helping shuttle much-needed food and gear into the community over hundreds of round-trip journeys.
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“This was a dog trailer 48 hours ago. I had a hacksaw, hacked the top off, grabbed some bungee cords, and here we are,” explained Evan in an interview with CBS Austin, while waiting for the next load of gear to be stacked on his trailer.
In the first two days of the operation, he made around 100 round trips each day, shuttling food and water as well as critical rescue supplies. “Right now, I’m waiting on a couple of chainsaws that I’ll bring in for a crew that’s been going at it with handsaws so far.”
In addition to delivering needed supplies, Evan has often found himself moving something even more important: information. “I’ve flagged down medics. I’ve been the guy that goes between Austin EMT and STAR Flight because I’m quicker than cell phones sometimes, people don’t have signal a lot of the time.”
Evan quickly points out that he isn’t the only one helping. “I’ve got an e-bike, but other people are pulling carts. People are walking, people are carrying things. Everyone is doing what they can.” But there’s no doubt that his ability to carry more gear at higher speeds and make hundreds of round-trip journeys so far in and out of the stricken neighborhood has helped impact countless lives.
“This is all volunteers here. They’re just taking it upon themselves to get people where they need to go. I think there’s an umbrella company coming in, taking over tomorrow, but until they get here, people are just taking care of people, which is what you’ve got to do.”
E-bikes proving their worth in emergencies
While many people consider electric bicycles just another form of recreation, they’ve proven to be potent transportation alternatives after natural disasters worldwide.
Not only do their small and efficient batteries make performing hundreds of rescue trips like Evans’ possible, but recharging can be done simply and easily with a solar panel when electricity is out after a disaster. And when gas stations are out of fuel (or simply can’t pump it with the power grid down), e-bikes can keep running while gasoline-powered motorcycles or ATVs run dry.
Electric bicycle batteries have also proven to be a handy source of emergency power after hurricanes and other disasters, often helping owners keep their phones charged up for days to remain in contact with family or rescue services.
While most hope to never need theirs for emergency purposes, electric bicycles have proven their worth in countless disaster scenarios, adding benefits far beyond just alternative transportation, recreation, or fitness riding.
E-bikes can be kept running nearly indefinitely after natural disasters with access to solar recharging equipment
Image credits: CBS Austin (screenshots), used under fair use
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Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, U.S., March 25, 2021.
Handout | Via Reuters
Block jumped more than 5% on Monday, leading a rally in shares of fintech companies as analysts downplayed the threat of JPMorgan Chase’s reported plan to charge data aggregators for access to customer financial information.
The recovery followed steep declines on Friday, after Bloomberg reported that JPMorgan had circulated pricing sheets outlining potential fees for aggregators like Plaid and Yodlee, which connect fintech platforms to users’ bank data.
In a note to clients on Monday, Evercore ISI analysts said the potential new expenses were “far from a ‘business model-breaking’ cost increase.”
In addition to Block’s rise, PayPal climbed 3.5% on Monday after sliding Friday. Robinhood and Shift4 recorded modest gains.
Broader market momentum helped fuel some of the rebound. The Nasdaq closed at a record, and crypto rallied, with bitcoin climbing past $123,000. Ether, solana, and other altcoins also gained.
Evercore ISI’s analysts said that even if JPMorgan’s changes were implemented, the most immediate effect would be a slight bump in the cost of one-time account setups — perhaps 50 to 60 cents.
Morgan Stanley echoed that view, writing that any impact would be “negligible,” especially for large fintechs that rely more on debit, credit, or stored balances than bank account pulls for transactions.
PayPal doesn’t anticipate much short-term impact, according to a person with knowledge of the issue. The person, who asked not to be named in order to speak about private financial matters, noted that PayPal relies on aggregators primarily for account verification and already has long-term pricing contracts in place.
While smaller fintechs that depend heavily on automated clearing house (ACH) rails or Open Banking frameworks for onboarding and compliance may face real pressure if the fees take effect, analysts said the larger platforms are largely insulated.