New Delhi, June 4 -- Once close allies, now at odds: Elon Musk's once-robust relationship with Donald Trump appears to be crumbling amid growing policy clashes, public criticism, and mounting fallout for Musk's companies. The turning point seems to be Trump's so-called "Big Beautiful Bill," a sweeping Republican legislative package that Musk claims undermines innovation and economic discipline.

Here's a breakdown of the key reasons behind the falling out:

Elon Musk's sharp break from Donald Trump finds its most immediate pain point in Tesla's bottom line: the proposed elimination of federal electric vehicle (EV) tax credits.

Under current policy, buyers of new EVs are eligible for up to $7,500 in federal tax credits, with an additional...