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Maybe he's trying to corner the EV market through the Republicans. If the Democrats make it more attractive for all manufactures to make EVs, Tesla loses
Looking at the Cybertruck, I think his plan is simply to destroy EVs. Same thing as Twitter.
Both companies are/were evaluated way higher than what they are worth and purchased with loans that are completely insecure, but costing very real interest.
It also looks as if Elon is doing a little totally legal "asset stripping" of the goodwill by paying out huge options to himself before the companies eventually go bust. I would not be surprised if the Saudis or other co-investors are footing the interest on the loans in the meantime. It's a small price to pay to get rid of those companies obstructing their business.