Tesla (TSLA) shares fluctuated but ultimately closed modestly higher on Wednesday after CEO Elon Musk expressed regret over his recent remarks about former President Donald Trump. The public fallout between the two high-profile figures last week wiped more than $150 billion from Tesla’s market cap.
“I regret some of my posts about President Trump last week,” Musk wrote early Wednesday on X, the social media platform he owns. “They went too far.” Musk’s statement marks his most direct attempt yet to de-escalate tensions with Trump.
As part of its ongoing autonomous driving efforts, Tesla also announced plans to use remote teleoperators to intervene when a robotaxi encounters an issue or becomes stuck in traffic, ensuring human oversight when necessary.
The conciliatory tone from Musk follows a sharp exchange with Trump last week, which weighed heavily on Tesla shares. Since hitting a low on Friday, the stock has rebounded nearly 20%. On Wednesday, the stock opened more than 2% higher but ended the day with only a slight gain.
Last week, Musk criticized a GOP-led spending bill backed by Trump, prompting fiery responses from the former president and sparking concerns about the political risks now surrounding Tesla. However, Trump appeared to strike a softer tone this week, saying, “I’d have no problem with it,” when asked about the possibility of speaking with Musk. “I’d imagine he wants to speak with me,” Trump added.
Tesla’s early gains on Wednesday were also fueled by fresh details on its robotaxi program. Musk revealed Tuesday night that public rides in Tesla’s robotaxis are slated to begin on June 22. He also announced that the “[first] Tesla that drives itself from factory end of line all the way to a customer house is June 28.”
The initial target for the robotaxi launch was June 12, but Musk noted that the company was being “super paranoid” about safety, so the timeline could still shift.
Tesla confirmed a post on X this week showing that initial robotaxi testing is already underway in Austin, Texas. A Model Y labeled “Robotaxi” was spotted being trailed by a second Model Y in a chase vehicle setup.
As of Monday, Tesla was listed as an autonomous vehicle (AV) operator on the Austin Transportation and Public Works website. The company plans to begin unsupervised testing with around 10 to 20 robotaxis and gradually scale up the program based on performance.
Tesla’s developments come as it continues to push into autonomous mobility, even as it faces pressure from declining vehicle sales and broader market volatility.
Musk offered his most conciliatory remarks yet over his recent fallout with Donald Trump, just days after a phone call with two of the president’s closest allies. According to sources familiar with the matter, Vice President JD Vance and White House Chief of Staff Susie Wiles reached out to Musk last Friday, urging him to put an end to the escalating conflict. The call was first reported by The Wall Street Journal.
Musk had previously been a trusted adviser and confidant to Trump before a highly publicized split last week sparked controversy involving both the former president and the Tesla CEO.
“I regret some of my posts about President @realDonaldTrump last week,” Musk wrote Wednesday on his social media platform, X. “They went too far.” According to The New York Times, Musk also called Trump directly prior to posting the public apology.
The dispute reportedly stemmed from Musk’s opposition to a tax-cut bill championed by Trump in Congress. The tension escalated when Trump threatened to retaliate by severing Musk’s access to federal contracts—an action that could seriously impact SpaceX, Musk’s aerospace company.
“I thought it was very nice that he did that,” Trump said in a brief interview with The New York Post, though he did not indicate whether he would fully move past the disagreement.
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