Tesla Inc. CEO Elon Musk was not held at the Oval Office of the White House in Washington, DC, in Washington, DC, at a meeting between US President Donald Trump and South Africa’s President Cyril Ramaphosa.
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Tesla Stocks closed down 7% from $323.63 It closed at $300.71 Tuesday before the company’s second-quarter delivery report.
According to a consensus compiled by FACTSET, Wall Street analysts expect Tesla’s delivery to be about 387,000, down 13% from nearly 444,000 people a year ago. Forecast Market Kalshi told CNBC on Tuesday that its traders predicted delivery to be around 364,000.
EV manufacturers’ stocks have been rising after Tesla starts limited Robotaxi Services In late June, in Austin, Texas, CEO Elon Musk boasted about its first one”Driverless delivery“There is there to the customer’s car.
Shares are a huge spending bill after Musk’s hatred of President Donald Trump on Saturday, a massive spending bill endorsed by the Commander-in-Chief. The bill is now heading The last vote In the house.
The legislation would benefit high-income families in the U.S. while cutting spending on programs such as Medicaid and food assistance.
Musk is not against cutting these specific procedures. However, Musk on X says The bill would worsen the U.S. deficit and raise the debt ceiling. According to an analysis by the Congressional Budget Office, the bill includes tax cuts that will increase national debt by $3 trillion over the next decade.
Tesla CEO also criticized various aspects of the bill, which would cut hundreds of millions of dollars in support of renewable energy development in the United States and phase out tax credits for electric vehicles.
This change may hurt Tesla because by 2035 according to Think tank energy innovation.
According to energy innovation, the bill also expects that the bill will reduce renewable energy development by more than 350 times over the same period. This could put pressure on Tesla’s Department of Energy, which sells solar and battery storage systems to developers of utilities and other clean energy projects.
Trump told reporters at the White House on Tuesday that Musk was “frustrated that he lost his EV order”, but that the technology CEO could “lose more than that.” Trump has hinted at subsidies, incentives and contracts that many of Musk’s businesses rely on.
SpaceX has partnered with the federal government to collect more than $22 billion in revenue since 2008, according to FedScout, and the company has conducted research on federal spending and government contracts. These include contracts from NASA, the U.S. Air Force and Space Force, among others.
FedScout CEO Geoff Orazem’s financial document review of EV Maker, Tesla has reported $11.8 billion in sales of “automatic regulatory credit” or environmental credit since 2015.
These incentives come primarily from federal and state regulations in the U.S. that require automakers to sell some low-emission vehicles or buy credit from companies like Tesla, which often have too many.
Regulatory credit sales directly enter Tesla’s bottom line. Credit revenue accounted for about 60% of Tesla’s net income in the second quarter of 2024.
