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Tesla is in worse shape than you think
How bad are things at Tesla? So bad that it would have lost money in the first three months of the year had it not been the sale of regulatory credits, credits that could be going away if the Trump administration gets its way on auto emissions rules.
The 71% drop in net income it just reported may have been overshadowed by CEO Elon Musk’s announcement that he would be stepping back from his controversial duties at the Department of Government Efficiency (DOGE). But Tesla is also being hurt by Musk’s political activities, from leading the effort to drastically slash the federal government to supporting far-right parties around the world, like Germany’s AfD. The sale of those federal and state credits has been quite lucrative for Tesla, bringing in $8.4 billion in revenue since the start of 2021 alone, money that basically went straight to its bottom line.
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