The Tesla, the ad promises, "goes from zero to 1939 in three seconds."
The image has been displayed on at least one bus stop in Bethnal Green, London, by a group called Everyone Hates Elon.
Pictures of the ad have gone viral online, and the group called on supporters to help ensure its message spreads far and wide as Musk's dismantling of U.S. government agencies and services, including its foreign aid agency, and his support for far-right political parties in Europe sparks outrage.
"Not happy with fueling the far-right in the USA, Elon Musk is now doing the same in Europe," wrote organizers on a GoFundMe page, where they are attempting to raise £10,000 ($12,632) to plaster its "swasticar" ad in more public places.
"We can't let the richest man in the world poison our politics. While nurses use food banks, his wealth grew by $200 billion last year," wrote the group, referring to the U.K.'s cost-of-living crisis.
In the U.K., Musk has expressed support for the far-right, virulently anti-immigrant Reform Party and attacked officials from the Labour government, spreading what Prime Minister Keir Starmer decried last month as "lies and misinformation" about crimes allegedly committed by immigrants.
This week, Musk's favored party in Germany, Alternative for Germany, lost the elections but caused international alarm as it doubled its vote share since the last nationwide vote. The party has platformed candidates who have used Nazi slogans and diminished the Holocaust, and has been classified as a suspected extremist group by Germany's intelligence service.
Musk's encroachment in European politics has been met with contempt, with Tesla sales dropping by more than half in Germany last month.
Everyone Hates Elon wrote sardonically in an Instagram post that it would "be a shame if [the swasticar ads] popped up around the world." Organizers have also plastered hundreds of Teslas in London with stickers telling passersby, "Don't buy a swasticar."
The group's GoFundMe page had raised more than £9,000 as of Thursday morning.