President Donald Trump has expressed support for Elon Musk. Trump announced that he will be buying a new Tesla car.

During President Donald Trump’s tenure, Elon Musk’s electric vehicle company Tesla has been facing challenging times. The company’s stocks have fallen to the lowest point in four years. Trump, describing Musk as a true American, announced his intention to purchase a new Tesla to support Musk and Tesla.

President Trump stated, “Why should someone who puts his extraordinary talents behind the ideal of making America great again be punished?” Musk responded to Trump by saying, “Thank you.”

Tesla’s stocks have dropped by over 50% from their peak of $490 in December. Just yesterday, Tesla experienced a more than 15% decrease, dropping to $222. The company’s market value plummeted from a peak of $1.5 trillion to $850 billion.

The electric car giant faced a setback due to CEO Musk’s actions and support for far-right political parties in Europe. Tesla’s sales in Germany had decreased by 76.3% annually. Musk had spent over $200 million on Trump’s election campaign.