Trump says he would offer Musk a position in his eventual cabinet

Former President and Republican candidate Donald Trump said Monday he would offer Tesla CEO Elon Musk a cabinet spot or a senior advisory role in his administration should he emerge victorious in November and win a second term in the White House.

However, on the flip side, Trump said he could end the electric vehicle tax credit, a move that would directly affect Tesla, one of the world's leading electric car manufacturers.

"Tax credits and tax incentives are not generally a very good thing," Trump told Reuters in an interview after a Pennsylvania campaign rally when asked about the $7,500 credit for electric vehicle purchases.

When asked about whether he would consider appointing Musk to an advisory or cabinet position, Trump replied, "He's a very smart guy. I certainly would, if he would do it, I certainly would. He's a brilliant guy."

The comments come after Musk publicly endorsed Trump in the presidential race.

Now, if Trump is elected, Musk could be relatively hurt if the Republican decides to reverse Treasury Department rules that have made it easier for automakers to take advantage of the $7,500 credit.

The former president could also ask Congress to repeal the tax credit altogether. In fact, when he was president, the Republican tried to repeal that credit, which was later extended by Joe Biden in 2022.

"I'm not making any final decisions on it," Trump finally insisted on the tax credit. "I'm a big fan of electric cars, but I'm a fan of gasoline-propelled cars and also hybrids and whatever else happens to come along."

Also, while he said he will take steps to discourage exports of vehicles produced in Mexico by Detroit automakers and others, Trump said he is open to giving incentives for foreign companies to set up shop in the United States and create quality jobs.

"We're going to give incentives, and if China and other countries want to come here and sell the cars, they're going to build plants here, and they're going to hire our workers," Trump said. "We will make our own cars. I want to make our own cars."

Elon Musk's response to the offer: 'I am willing to serve'

After Donald Trump said he might consider offering Elon Musk an advisory role within his administration, the Tesla and SpaceX CEO responded with a social media post that read, “I am willing to serve.”

In the post, Musk is shown standing in front of a podium inscribed with the words “Department of Government Efficiency (DOGE).” The acronym is a nod to Dogecoin, the popular cryptocurrency that originated as a meme.