"The fact that Mr. Musk spent a quarter of a billion dollars to help re-elect Mr. Trump does not give the incoming White House the license to look the other way at the national security risks he may pose," Honor wrote in a New York Times op-ed.

China is a major market for Musk's Tesla, which owns a factory in Shanghai. Honor noted that Chinese law requires companies doing business in the country to turn over information if requested.

"This means Mr. Musk's business dealings in China could require him to hand over sensitive classified information, learned either through his business interests or his proximity to President-elect Donald Trump," the retired general wrote.

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Honor also voiced concerns about the tech mogul's comments about China and related political issues. Musk previously praised China's "economic prosperity" and suggested Taiwan become a "special administrative zone" of China " a comment that was received well by leaders in Beijing."

"If the federal investigations demonstrate deep connections to China and Russia, the federal government should consider revoking Mr. Musk's security clearance," Honor added.

"It should already be thinking about using alternatives to SpaceX's launch services."