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Tesla Motors, Inc. CEO Joins President Trump's Manufacturing Council

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On Friday, the White House announced that Tesla (NASDAQ: TSLA) CEO Elon Musk, along with some other executives from major U.S. companies like Ford , General Electric , and LockheedMartin , will join President Trump's new council to meet regularly for advising the president on manufacturing policy, reports CNBC. Musk's appointment to the council further strengthens ties the electric-car maker CEO has been forming with the new president in recent months.

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TSLA data by YCharts .

Meanwhile, investors seem to at least be giving some weight to Musk's growing ties to the president. The stock has surged about 38% as Trump increasingly gives Musk his ear.

The area in which Tesla looks positioned to benefit most from the Trump Administration has less to do with the electric-car maker's sustainable energy agenda and more to do with Tesla's significant emphasis on U.S. manufacturing. Excluding contractors, Tesla has created over 13,000 jobs in the U.S., most of which are manufacturing related. And the company's 2016-acquired SolarCity has created about 12,000 U.S. jobs.

Further, Tesla says its under-construction Gigafactory will employ about 10,000 people at peak production and indirectly create about 20,000 to 30,000 additional jobs in surrounding regions. Tesla's growing U.S. manufacturing presence is directly aligned with one of the president's top priorities to create more domestic manufacturing jobs.

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Daniel Sparks owns shares of Apple and Tesla Motors. The Motley Fool owns shares of and recommends Apple, Ford, and Tesla Motors. The Motley Fool owns shares of ExxonMobil and General Electric and has the following options: long January 2018 $90 calls on Apple and short January 2018 $95 calls on Apple. The Motley Fool has a disclosure policy .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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