05:23 AM EDT, 07/01/2025 (MT Newswires) -- Tesla (TSLA) declined more than 4% in recent premarket activity Tuesday, with shares setting up for the sixth consecutive day of declines, as the feud between President Donald Trump and Chief Executive Elon Musk escalated.

In a Truth Social post early Tuesday, Trump accused Musk of getting "more subsidy than any human being in history, by far, and without subsidies," he said, Musk would "probably have to close up shop and head back home to South Africa."

The president went on to say that "perhaps we should have DOGE take a good, hard look at this? BIG MONEY TO BE SAVED!!!" Musk set up DOGE, or the Department of Government Efficiency, to cut waste across various government departments and bring efficiency in their operations.

"No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE," the President added in the Truth Social post.

Musk responded on X early Tuesday, asking Trump to follow through on his threat. "I am literally saying CUT IT ALL. Now," intensifying the public clash.

Tesla outlines on its website that eligible buyers of certain Tesla vehicles could receive up to $7,500 in federal tax credits under the Inflation Reduction Act, subject to conditions. That benefit is offered by all electric car makers in the US. Similarly, all EV manufacturers in the US have access to the government's zero-emission vehicle and greenhouse gas programs.

The company's early and exclusive focus on EVs could have positioned the company ahead of legacy automakers in meeting emissions and production targets.

Tesla's shares are falling as concern mounts that the deepening rift with the Trump administration could undermine the company's future access to US government contracts.

Price: 302.15, Change: -15.51, Percent Change: -4.88