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Tesla suspended from participation in the international auto show in Vancouver: what is the reason?

The annual Vancouver International Auto Show, which traditionally attracts more than 100,000 visitors, will be held this year without Tesla. The organizers have repeatedly offered the automaker to voluntarily withdraw from the event, but in the end, they made the decision themselves. This was reported by Komersant ukrainskyi with reference to Reuters.

“The Vancouver International Auto Show has removed Tesla as a participant in this week’s event after the automaker was given several opportunities to voluntarily withdraw,” said Eric Nicholl, the show’s executive director.

Why was Tesla not allowed to participate in the Vancouver show?

According to the agency, the reason for this decision was concerns about the safety of exhibitors and visitors. Recently, protests against Tesla have intensified in Canada due to the political views of its owner Elon Musk. Musk openly supports former US President Donald Trump, who imposed a 25% duty on Canadian imports and even talked about the possibility of annexing Canada.

Protests and possible threats

Eric Nicholl, executive director of the Vancouver International Auto Show, said he feared not only mass protests but also possible acts of vandalism.

The decision of the auto show organizers was also made against the backdrop of protests against Tesla in the United States, which were accompanied by acts of vandalism, car arson, and even shelling of the company’s showrooms. This raised concerns about possible risks during the event in Vancouver.

The organizers decided not to risk the safety of the event and its attendees, so they decided to refuse Tesla’s presentation at the exhibition.

“The primary concern of the Vancouver Auto Show is the safety of visitors, exhibitors and staff,” said Nicholl.

Impact on Tesla’s reputation

This is not the first time that Tesla has been at the center of a scandal because of Elon Musk’s political stance. Although the company remains one of the leaders in the electric car industry, such events can affect its image and sales in Canada.

Vancouver Auto Show: one of the largest automotive events in Canada

The Vancouver International Auto Show is an annual event attended by more than 100 thousand people. It presents the latest car models, concepts, and innovative developments.

Despite the exclusion of Tesla, the auto show will go on as scheduled.

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Dynamics of Tesla shares after the election

It is worth noting that despite a significant drop, Tesla shares are still 8% higher than on Election Day. However, this is significantly less than the rapid 91 percent growth seen before December 17.

After the election, investors expected that Musk’s generous donations to Trump’s campaign and the Republican Party – nearly $300 million – would bring significant benefits to the company, especially through possible relaxation of regulations in the field of self-driving technologies.

Despite the losses, Musk is still $83.3 billion richer than on Election Day. This is partly due to the increased valuation of his private companies, including SpaceX and xAI.

Elon Musk is a visionary entrepreneur and a lover of Russia

Elon Musk is one of the most influential entrepreneurs of our time, the founder and CEO of many innovative companies such as Tesla, SpaceX, Neuralink, and Boring Company. He was born on June 28, 1971 in Pretoria, South Africa. After moving to the United States, he became a pioneer in the field of electric vehicles, space technology, and artificial intelligence. Musk is often in the spotlight for his ambitious goals, including the colonization of Mars, the development of renewable energy, and the creation of neurocomputer interfaces.

Musk is also known for his active stance on social media, where he often posts controversial statements. In 2022, he acquired the Twitter platform, which he later renamed X. Musk takes a libertarian stance on Internet regulation and freedom of speech, opposing government interference in the activities of tech giants.

Musk plays a prominent role in the context of the Russian-Ukrainian war. His company SpaceX provided the Armed Forces of Ukraine with access to Starlink satellite Internet for three years of full-scale war, which provided critical communications at the front. Recently, however, Ukraine has been actively looking for a replacement for this technology, as Musk’s public statements and position no longer inspire confidence. Recently, Elon Musk was accused of secret contacts with Putin, and he ridiculed Zelenskyy’s statement about Ukraine’s independence. Today, Musk is an active supporter of Trump’s pro-Kremlin policies. He calls Ukrainian President Volodymyr Zelenskyy a dictator and an extortionist from the United States and opposes any assistance to Ukraine in the war with Russia.

Trump’s trade wars

Donald Trump’s administration has imposed trade restrictions on three of the US’s largest trading partners – Canada, Mexico, and China.

These measures have caused concern among American companies that depend on metal imports from Canada and Mexico. They are expected to look for alternative sources of supply, in particular in the Middle East, India, Chile, and Peru, which could lead to higher prices for aluminum and copper in the United States.

In addition, Canadian consumers have responded to the imposition of duties by boycotting American goods, canceling trips to the United States and refusing to buy American alcohol.

Economists warn that such trade disputes could slow global economic growth and cause inflation. Stock markets in the Gulf countries earlier reacted with a decline due to fears of a possible trade conflict. The cryptocurrency market also collapsed earlier.