NEW YORK - US President Donald Trump planned to sell the red Tesla car he said he bought in March, reported The New York Times on Friday, noting that Trump originally purchased the car to demonstrate his support for Elon Musk amid a backlash over his role in the administration.

"Administration officials said Mr Trump showed little interest in engaging with Mr Musk, even after the billionaire signaled he would be open to de-escalating the fight" they currently have, added the report.

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Late Thursday, Musk backed off a threat to "immediately" decommission SpaceX's Dragon spacecraft, which transports NASA astronauts and supplies to and from the International Space Station. A short time later, when Bill Ackman, the hedge-fund billionaire, posted on social media that the two men "should make peace for the benefit of our great country," Musk responded, "You're not wrong."

"For Musk, a prolonged feud with Trump could be hugely expensive," noted the report. His companies, including SpaceX, have benefited from billions of dollars in government contracts and were positioned to receive billions more. Trump threatened on Thursday to end those contracts.

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The feud is risky for Trump as well, it added. Musk, the world's richest person, who spent about $275 million to help elect Trump in 2024, had promised to give $100 million to groups controlled by the president's team before the 2026 midterms. Those funds have yet to be delivered and are now very much in doubt.