Things which drive TSLA's price are myriad. Assigning it to a single policy of the current administration is unlikely to be right. A good indication that there is something else at play would be if TSLA shot up much more than other stocks in the renewable market.

The Electric Vehicle Tax Credit and the ITC (solar tax credit) were passed by Democrats. Tesla benefited greatly from both. Tesla also received a massive loan from Obama's DOE during the great recession, without which it may not have survived. Meanwhile Trump has been doing everything in his power to prop up the dying coal industry, reduce vehicle efficiency requirements, and expand oil and gas drilling. All of these efforts indirectly harm Tesla by benefiting Tesla's competitors.

It's very interesting how Tesla could come out so well from all those policies. Of course the factory in China was crucial...it was a lucky timing that Tesla got the license from China just in time to be productive during and in spite of the pandemic.

Tax cuts came years before Tesla’s stock started soaring, so probably an unrelated happening. It’s pretty much only this year where Tesla’s stock started to rise so dramatically.

The major component of the Trump Tax Cut was lowering the tax on corporate profits.

Telsa barely makes any profit, making that change mostly useless for them.

I believe capital gains taxes were also lowered, which may have been helpful for their stock price. But that in itself is helpful to Elon Musk and other stockholders, not the company itself.