FRANKFURT – On Tuesday, German drugstore chain Rossmann said it would no longer buy Tesla (NASDAQ: TSLA) cars for its corporate fleet due to CEO Elon Musk’s support for U.S. Republican presidential candidate Donald Trump.
The drugstore chain, which is among the largest in Europe, said its decision was with immediate effect and due to what it called an “incompatibility” between statements by Musk and the values that Tesla represents.
“Elon Musk makes no secret of his support for Donald Trump. Trump has repeatedly called climate change a hoax – this stance is in stark contrast to Tesla’s mission to contribute to environmental protection through electric car production,” said Raoul Rossmann, the son of Rossmann’s founder.
Musk, Tesla, and the Trump campaign had no immediate comment.
In the past, Musk’s stance on issues has led companies to drop their advertising on his social media platform X, prompting a fierce rebuke from the billionaire.
Rossmann, with more than 62,000 employees and more than 4,700 stores in Germany and other European countries, said it would continue to use the Teslas it already owns “for sustainability reasons and resource conservation”.
It didn’t respond to a request for comment about its corporate fleet size, or the number of Teslas it uses. Bloomberg reported that the company has 34 Teslas among its 800 cars.
(Source: Reuters)
Maria Reed is a financial journalist with a passion for covering US equities. She joined the ABBO News team in June 2023. Maria holds an M.S. degree in International Economics and Finance from Otto-von-Guericke University in Magdeburg and is a CFA Level 2 candidate.