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Tesla Is Losing German Businesses As A Result Of Musk’s Actions
Top German corporations are beginning to sever connections with Tesla over Elon Musk’s political actions and recent remarks regarding German politics.
Investors are increasingly worried about Musk’s links to far-right politics and their implications for the company’s image. German media outlets like Der Spiegel, Stern, and Das Tagesspiegel are covering the backlash against Tesla, which is tied to Musk’s latest political comments. Energy firm Badenova was among the first to respond, opting not to renew its Tesla vehicle lease. Board member Hans-Martin Hellebrand expressed his concerns about Musk’s new advisory role with the US government. Another energy provider, Lichtblick, is similarly phasing out Tesla vehicles from its fleet. Infrastructure head Kevin Litje has stated that Musk’s backing of Donald Trump and right-wing parties conflicts with their company’s values.
The wave of cancellations has also affected other sectors. Rossmann, one of the largest pharmacy chains in Europe, has abandoned plans to replace its fleet of company vehicles with Tesla electric cars. Construction company Viebrockhaus has stopped installing Tesla batteries and other products because, they say, Musk’s behaviour does not match their business principles.
What caused such a reaction?
Musk has become increasingly involved in German politics, particularly as a supporter of the Alternative für Deutschland (AfD) party. This is a far-right party that some have called an “extremist organization” due to the association of some of its members with neo-Nazi ideas. The situation became even more tense when activists projected an image of Musk and, as many interpreted, a Nazi salute, along with protest messages, onto Tesla’s factory in Berlin.
While the boycott has garnered a lot of attention, it is unlikely to have a significant impact on Tesla’s global business. But the company is already struggling in Germany, with sales falling 41% in 2024, or about 26,000 vehicles, from a year earlier. Part of the decline can be attributed to reduced government incentives for electric vehicles, but Tesla’s sales decline is far greater than other electric car manufacturers in the region.
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