Elon Musk To Lead ‘DOGE’ In New US Government of Donald Trump

Donald Trump won the election results in America last week. The new government led by Trump will take office early next year. Elon Musk, chief of electric vehicle (EV) maker Tesla, is also going to get an important role in this. Trump has asked Musk and Indian-origin Vivek Ramaswamy to take charge of the Department of Government Efficiency.

This will be a new department in the American government. This department was initially proposed by Musk. Trump had said during the election campaign that the new department would reduce the bottlenecks of bureaucracy. This department is also being called ‘DOGE’. This is also the name of Musk’s favorite Pisces coin. Trump told that the target of this department bureaucracy There will be a reduction in taxes, reduction in excess regulations, reduction in unnecessary expenditure and restructuring of federal agencies.

However, Musk’s role in this department can also become an issue of conflict of interest. SpaceX, associated with Musk’s Tesla and space missions, has received billions of dollars from government contracts and policies. After Trump’s victory, Musk’s wealth has increased by more than 12 percent. His stake in Tesla has a major contribution in this wealth.

Musk played an important role in Trump’s election campaign. He also had a prominent place among those who donated to Trump. After this victory, Tesla’s share price has also increased. Investors hope that Musk, who supported Trump in the election, will benefit from this victory. The new government’s reduction in subsidies for EVs could cause major losses to Tesla’s competitors. Apart from this, Trump also plans to increase tariffs on imports from China. This could have a big impact on the sales of Chinese EV makers in America. Tesla holds the first position in the EV market in America with more than 48 percent share. There was a decline in both sales and profits of the company in the first half of the current year. It is facing tough competition from EV companies like China’s BYD. However, the company’s profit increased by about 17.3 percent in the third quarter.