Shares in Tesla were down in premarket trading as the carmaker lays out the risks from President Trump’s tariffs and his scrapping of tax credits.
Elon Musk has said that robotaxis are the company’s future, but most revenue still comes from cars.
General Motors was the second auto company this week, after Stellantis, to show the toll that President Trump’s trade policies are taking on the industry.
It is inevitable that America will eventually follow the rest of the world and that in 40 or so years, it will run mainly on sun and wind.
The Commerce Department plans to impose a 93.5 percent levy on Chinese graphite, an essential ingredient in the batteries that power electric vehicles.
There’s still time to claim credits that could save you thousands of dollars.
Slight changes to the big budget bill left the factory’s tax credits intact, according to the carmaker, which will use the batteries to make more affordable electric vehicles.
Mr. Musk’s involvement in politics was once seen by investors as a benefit to Tesla. Not anymore.
The tech billionaire’s effort to create a new political party, called the America Party, comes amid a ramped-up feud with the president over his new domestic policy law.
The sprawling bill would boost fossil fuels and end tax credits for wind, solar power and electric vehicles.