Tesla’s Meteoric Rise: Musk’s Playful Banter with Governor Walz Amid Stock Surge
In a striking convergence of corporate success and political engagement, Tesla’s stock surged nearly 45% in June 2024, prompting a lighthearted exchange between CEO Elon Musk and Minnesota Governor Tim Walz. The unexpected dialogue, which unfolded on social media platform X, highlights Tesla’s growing influence as its market capitalization approaches $900 billion. Analysts attribute the rally to strong Q2 delivery numbers and optimism around AI-driven autonomous vehicle technology.
The Stock Surge That Sparked the Conversation
Tesla shares (TSLA) closed at $265.18 on June 28, up from $183.25 just four weeks earlier—marking the company’s strongest monthly performance since October 2021. The rally added approximately $250 billion in market value, equivalent to the entire worth of Coca-Cola. Key drivers include:
- Better-than-expected Q2 deliveries of 443,956 vehicles
- Approval of Tesla’s Full Self-Driving (FSD) software in China
- Musk’s confirmation of a planned “Robotaxi” unveiling in August
“This isn’t just a rebound—it’s a fundamental reassessment of Tesla’s AI potential,” said Rebecca Lindland, senior automotive analyst at Cox Automotive. “Investors are betting that Tesla’s data advantage in autonomous driving will prove more valuable than traditional car manufacturing.”
The Governor’s Playful Jab and Musk’s Response
The stock surge caught the attention of Minnesota Governor Tim Walz, who tweeted on June 27: “@elonmusk With Tesla’s stock up 45%, maybe you can finally afford to build that Minnesota Gigafactory we talked about? #JustSaying.” Musk replied within hours: “Governor, with incentives like your smile, how could I refuse? Let’s talk.”
The exchange, while seemingly casual, carries strategic undertones. Minnesota has been vying for a Tesla manufacturing facility since 2020, offering:
- 2,000 acres of tax-abated land near Duluth
- $300 million in potential workforce training grants
- Access to the Great Lakes shipping corridor
“This is textbook Musk—using humor to keep negotiations in the public eye while maintaining plausible deniability,” observed political strategist David Axelrod. “For Walz, it’s a low-risk way to showcase pro-business credentials in an election year.”
Broader Implications for Tesla and EV Policy
The interaction coincides with heightened scrutiny of Tesla’s political engagements. The company recently joined the Semiconductor Industry Association to lobby for chip manufacturing subsidies, and Musk has increasingly weighed in on energy policy debates. Key developments include:
- Tesla’s new $3.6 billion Nevada battery plant securing 10-year tax abatements
- The Inflation Reduction Act’s EV tax credit extensions benefiting Tesla buyers
- Ongoing negotiations over federal autonomous vehicle regulations
Critics argue such engagements risk blurring corporate and political boundaries. “When a CEO can move markets with a tweet and governors court them publicly, it raises questions about equitable economic development,” said MIT researcher Dr. Lila Faberson.
What’s Next for Tesla and Its Leadership?
All eyes now turn to Tesla’s Q2 earnings call on July 23 and the Robotaxi event scheduled for August 8. Analysts predict:
- Potential announcement of new Gigafactory locations
- Updates on the $25,000 compact EV project
- FSD subscription model revisions
Meanwhile, the Minnesota Development Authority confirmed “preliminary discussions” with Tesla, though no formal proposals have been exchanged. As Tesla’s valuation nears the $1 trillion milestone achieved only by Apple, Microsoft, and Nvidia, Musk’s blend of technological vision and political savvy appears more consequential than ever.
For investors tracking these developments, the coming weeks promise crucial insights into whether Tesla’s surge reflects temporary momentum or sustainable transformation. Subscribe to our newsletter for real-time updates on Tesla’s market moves and policy engagements.
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