Will Elon Musk like it? Trump says he won't allow ban of any gasoline powered cars in the U.S

Donald Trump has claimed that if he becomes the president after US election 2024, no state would ever be able to ban gasoline cars. The former president, at a rally in Michigan, criticized increasing efforts by some states to ban gas vehicles and instead make electric vehicles the only cars available. Many states are forming plans, such as California, to eventually replace gasoline cars with zero-emission cars by 2035.

But what does Elon Musk think?

An important question is whether Elon Musk, who's a vocal proponent of electric cars, will back the policy. Musk has been urging a more rapid shift toward electric power through Tesla, which faces a loss of market momentum if the bans of gas-powered vehicles are defeated. This debate raises important questions about the future auto industry and its place in the larger effort to cleanse the energy landscape.

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Future Impact on the Automobile Industry

In the event that Trump succeeds in his attempts to block state-by-state bans, the market for gasoline-powered cars may continue healthy enough to ensure strength for companies like Ford and General Motors, which still rely heavily on combustion engines. Ford, in particular, has been adding a bevy of EVs to its lineup while top trucks are gas-powered. The company should ride well in the event of a reversal of electric vehicle adoption, given the popularity of the F-Series Super Duty truck.

Keep your eyes out for these key Stocks: Ford, GM, Exxon Mobil

The two big drivers behind America's auto sector - Ford and General Motors - will be the beneficiaries if Trump's policies keep the gas-guzzlers on the road. Meanwhile, analysts like Goldman Sachs and Wedbush maintain a bullish rating on both companies. Then comes the dominant oil behemoth in the form of Exxon Mobil, which has a huge network of gas stations and is very financially strong to benefit from such a scenario.

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FAQs:

Q1: What has Donald Trump promised concerning gasoline-powered automobiles?
A1: Trump said he would ensure that no state can stop the sale of gasoline-powered cars or trucks in case he wins the position of president.

Q2: Which companies will benefit if gas-powered vehicles are still sold?
A2: Auto giants such as Ford and General Motors, which still rely heavily on gasoline-powered automobiles, might not only survive under this policy of Trump but also do well. The world's largest oil company Exxon Mobil, for instance would also continue to flourish given the lasting demand for gasoline.