

News
Biden administration announces $1B fund to support EV automakers
The Biden Administration announced a joint initiative with Monroe Capital LLC to launch a $1 billion fund to help small to medium-sized auto suppliers shift from gasoline-powered to electric vehicles. The White House and Monroe are calling their joint initiative the Drive Forward Fund.
“We believe this new Drive Forward Fund will be critical to catalyzing growth and innovation within America’s automotive supply chain,” Monroe CEO Ted Koenig said.
Monroe specialists explained that small to medium-sized auto suppliers may lack access to finances, which may prevent them to expand EV component production. The Drive Forward Fund will help auto parts suppliers receive lower-cost loans to help them “refinance, grow, and diversify their businesses.”
The $1 billion fund will be supported by low-cost government-guaranteed lending through a US Small Business Administration license. It is expected to help over 250,000 people across the United States who work for small to medium-sized auto suppliers.
“A successful EV transformation “requires a cutting-edge automotive supply chain that keeps the country competitive and underpins our economic and national security,” Bozzella said.
Strengthening and expanding the US auto supply chain is essential to expanding domestic EV production in the United States. The EV industry has seemingly become a new frontier for many companies and nations to conquer. Many countries have noticed that China remains a fierce opponent in the global EV industry.
The United States and Canada proposed imposing 100% tariffs on Chinese EV imports. Meanwhile, the European Commission proposed tariffs as high as 35.5% on China-made EV imports. China’s Ministry of Commerce has spoken out against tariffs in Europe and Canada. It has said little about the tariffs in the United States.
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Investor's Corner
Piper Sandler raises Tesla (TSLA) target after China trip, cites robotics leadership
Analysts concluded that Tesla is still the benchmark that competitors rely on for innovation.

Piper Sandler boosted its Tesla (NASDAQ:TSLA) price target to $500 from $400, maintaining an “Overweight” rating after a research trip to China.
The firm cited Tesla’s leadership in artificial intelligence and robotics as central to its thesis, even as Chinese electric vehicle makers grow more competitive. Analysts concluded that Tesla is still the benchmark that competitors rely on for innovation.
A China visit
During its visit, Piper Sandler met with several Chinese EV manufacturers, many of which are vertically integrated and expanding rapidly. Analysts noted that these “fast followers” represent Tesla’s most significant competitive challenge. However, executives from multiple companies acknowledged Tesla’s foundational role in shaping the industry’s direction, TipRanks stated in a report.
One automaker told Piper Sandler that “without Tesla going from 0 to 1, we can’t go from 1 to 100,” highlighting the Elon Musk-led company’s enduring influence. Analysts said the remarks reflect both admiration and dependence on Tesla’s early innovations, particularly in areas such as battery integration, vehicle software, and AI-powered features.
Tesla’s leadership
Piper Sandler’s report emphasized that while Chinese automakers are formidable in design and production, they look to Tesla for advancements in “real-world” AI applications. Tesla’s focus on autonomous driving and robotics continues to distinguish it from competitors, making the company Piper Sandler’s top investment idea in this space.
“Building AI-enabled machines requires data, talent, chips, and engineering prowess. Tesla compares favorably vs. the Chinese on all of these fronts,” Piper Sandler analyst Alexander Potter stated in a note.
Piper Sandler also shared some of its expectations for Tesla this year, stating that it is estimating that the company will delivery ~495k vehicles this third-quarter, possibly attaining a new all-time record. The firm, however, stated that its 2026 outlook for Tesla is shakier, as the EV maker could just hit ~1.9 million units, which could include as many as 350k affordable “Model 2” vehicles.
Elon Musk
Elon Musk and Donald Trump reconcile publicly at Charlie Kirk memorial
The reconciliation fulfilled Kirk’s longtime wish for the two men to mend relations.

Elon Musk and U.S. President Donald Trump interacted with each other publicly for the first time since their feud, sharing a handshake and conversation during a memorial service for slain conservative activist Charlie Kirk.
The reconciliation fulfilled Kirk’s longtime wish for the two men to mend relations, something he had openly discussed prior to his passing.
Kirk’s wishes for Musk and Trump
As noted in a CNN report, Kirk had long positioned himself as an intermediary between Musk and Trump, maintaining close ties with both figures even at the height of their falling out. He highlighted this in a conversation with commentator Megyn Kelly in June. “I know both these guys … I am hopeful, optimistic, and will do everything I possibly can to try and bring this back together,” Kirk said.
Kirk had also spoken highly of both men. On his podcast, he described Musk’s acquisition of Twitter as “the most important purchase since the Louisiana purchase.” He also praised Trump’s MAGA movement.
Kirk reportedly texted Musk frequently, urging him to avoid rhetoric that could harm Trump’s agenda. Musk reportedly was receptive to Kirk’s feedback, despite his announcement that he would be launching a third political party in the United States. His prediction proved accurate when Musk and Trump were sighted side-by-side during his memorial service, where they spoke briefly and shook hands.
Signs of reconciliation
Kirk’s memorial became a symbolic turning point. Andrew Kolvet, executive producer of Kirk’s podcast, posted a photo of Musk and Trump together, noting Kirk’s hope that the two would reconcile “for Charlie.” Musk himself echoed the sentiment, sharing a similar photo with the words “For Charlie,” followed by the White House X account posting the same line later.
Musk has since engaged more positively with Trump on social media, while his America Party PAC shared images of Musk embracing Kirk’s widow, Erika. After her speech calling for forgiveness, Musk posted a passage from the Lord’s Prayer: “Forgive us our trespasses as we forgive those who trespass against us.”
Kirk had shared his wish for such an outcome in the past. “Knowing both of these men and knowing President Trump much better than Elon, but knowing both of these men, I can tell you I think that there’s going to be a peace treaty moment, a calming down, a moment where both sides come together and we know that we are stronger against the left than we are divided,” Kirk had stated over the summer.
News
UK Liberal Democrat leader Ed Davey accuses Elon Musk of “crimes” on X
“He (Musk) is actually, I think, committing crimes,” Davey stated.

Sir Ed Davey, leader of the UK’s Liberal Democrats, has urged communications regulator Ofcom to investigate Elon Musk over alleged breaches of the Online Safety Act on social media platform X.
Davey claimed that X is hosting harmful content, including grooming and self-harm materials, and argued Musk should be held personally accountable for “crimes” he claimed are reportedly being committed under the billionaire’s leadership.
New UK law
The Online Safety Act, which came into effect earlier this year, requires tech platforms to remove illegal content and enforce age verification or face steep penalties, among other regulations. Davey claimed to the BBC that Musk had dismantled X’s child safety team, enabling disturbing content to spread.
“He (Musk) is actually, I think, committing crimes,” Davey stated. “Ofcom should go after him. The laws are there. What his business is doing is against the law because it is disgusting.”
X has faced criticism in the UK and Europe over content moderation policies since Musk’s takeover. Musk, in turn, has accused regulators of suppressing free speech, calling Ofcom’s enforcement “heavy-handed” and the legislation “suppression of the people.”
Political clash
The dispute comes as the Liberal Democrats gather in Bournemouth for their annual party conference. Davey is reportedly planning to use his keynote speech to escalate his rhetoric against Musk. He has also pushed for a motion in Parliament to summon the CEO to face questions over remarks made at last weekend’s Unite the Kingdom rally in London.
At that event, organized by activist Tommy Robinson, Musk warned of “uncontrolled migration” and declared that “violence is coming.” These comments were later described by Davey as incitement. Musk responded by labeling the Lib Dem leader a “craven coward.” While some officials distanced themselves from Musk’s remarks, Conservative shadow chancellor Mel Stride highlighted that he did not believe the CEO had broken the law.
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