Teslaand SpaceX CEO Elon Musk have launched a new attack on US President Donald Trump after Trump denied trying to "destroy" Musk's business by "taking away some, if not all, of the massive subsidies his company receives from the government" in a post on Truth Social.

Trump also said he wanted Musk and all businesses in the United States to thrive. "The better they do, the better America does, and that's good for all of us."

Electric vehicle analyst Sawyer Merritt shared a screenshot of Trump's post on social platform X.

Musk responded: "The 'subsidies' he refers to simply don't exist. Trump has eliminated or set expiration dates for all sustainable energy support while leaving in place massive oil and gas subsidies. SpaceX has done a better job with less money and won NASA contracts. Moving those contracts to other aerospace companies will leave astronauts stranded in space while taxpayers pay twice as much!"