That $288 million donation is looking increasingly expensive
Even Elon isn't immune to his face being a 🐆 snack...
"You can't make a good deal with a bad person." - Warren Buffet
Good
Dude paid hundreds of millions in bribes, blew his already shit reputation in order to weasel his way into Trumps circle to save the subsidy and he failed.
And on this crushing news, Tesla stock up 20%!
If only somebody could have predicted that the Trump/Musk partnership would end in disaster.
No he did it to steal government data and to kill any active investigations into his business deals and stock manipulation. As he has openly admitted, if Trump lost he would be in jail.
Good. There is zero justification subsidizing the business of the richest man on earth.
Billionaires generally don’t go to jail
That too
How about the rest of the industry?
that was my shamefully late realization that musk is indeed a fucking moron. I sold my rather sizable position and took the L (i get paid well, ill be alright, but i cant wait to witness the unraveling of musk in the coming months/years).
He wanted to kill the subsidy because he didn't think his competition could weather the storm. But he didn't think people would stop buying Tesla and the Cyber Truck would be such a failure. Now he needs the subsidies
What about the unreported, unrecorded donations...how much were those?
Musk go bankrupt!!! Me like
It might get much worse for Tesla and I’m surprised Elon is publicly freaking out about it already. Republicans are also trying to rollback CAFE standards to the point at which traditional automakers won’t have to buy green energy credits from Tesla. That’s almost $3 billion in annual revenue loss for Tesla.
Gonna be saying good bye to alot more than that
Damn thats literally all their profit. Big oof if that bill passes.
The subsidy was not under threat even if Kamal had won after Musk went all in. What we see here is karma in action.
And the agency that sets and monitors CAFE standards is NHTSA. You know, the one that Elon hit with Doge cuts. Just imagine if Doge ends up directly causing Tesla to become unprofitable.
Wow musk was right about that one thing…how does it go again with the irony?
Hell billions if you count him buying Twitter, which IMO was done solely to push lies and misinformation....under the guise of free speech.
The auto industry has already enjoyed a century on the dole. Think of the highways as socially owned means of production…
[deleted]
You don’t see them. They all go to the oil industry, but they are there.
MAGA = Make America Gas Always
Considering the senate will no doubt add addendums to the bill, this is probably just another grift to get Elmo to give orange menace more money. And senate will quietly reinstate CAFE portions and who knows- add EV credits only for “US EV makers with xx% US content”- which will magically be just above every manufacturer level except Tesla.
Before subsidizing the industry, the voters should vote for politicians who support EVs. Right now the pendulum, pushed by the voters, swings way in the anti-EV direction. For example, here in Texas, I have to pay $200 a year in EV penalty tax. They justify this with "road use" even though ICE road use is done through gas taxes which makes this a function of mileage and efficiency. I am being taxed like a high mileage/year super inefficient gas guzzler while I barely drive 5000 miles/year in my EV. So no, with that mind-set of voters and politicians, I don't think that tax money should go to EV manufacturers. And especially not to successful ones like Tesla with their insane valuation. That's a misuse of taxpayer money.
Well I think he always said that he was against the EV credit didn't he?
Share price likely to go to the moon!
They already did the latter. Ev manufacturers made factories in the US just to get included in the incentives. It was a net positive
Exactly. Didn’t account for the double whammy of persistent brand pushback and the subsidy getting pulled at the same time. Big gut punch if the bill goes through
Are you really this ignorant?
Karma.
What about two bad people?
Believe it or not but that's still not even close to the amount he lost/overpaid while buying twitter.
Even worse
Now cut off soacex
Didn't the checks bounce on that?
Well, the US evolving backwards to using more oil instead of less is bad - but the direct impact on Elon is pretty funny.
In an article I just read, "Tesla CEO Elon Musk slammed the bill on X today, calling it "utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future."" He, like everyone else, KNEW what was coming. He knew Trump hated Biden's EV initiatives and yet he backed the very guy who would aim to destroy the EV industry. Meanwhile, Ford looks to be going more towards hybrids now.
And the feud between Trump and Musk has Trump threatening investigations of all the subsidies Musk has been getting. My side's hurting from laughing so hard at these two...
That credit should be used else where not on EVs
What does this mean for the stock, will it double today?
It's all paper wealth based on nonsensical valuations of his companies. His real net worth is closer to zero or even negative.
Tesla is waymo fucked now
I'm on my second Tesla. I never qualified for the EV rebate. So glad it's going away!!
Gotta spend money to lose money 👉🤓
Anyone know what percentage of that $3 billion is from US carbon credits? I’ve seen 50% but haven’t dug any deeper. Theoretically they could try to sell more international carbon credits? Either way their profit is about to take a HUGE hit.
I can’t seem to find a breakdown of the credits for US vs foreign markets but I really don’t see anything that looks positive for Tesla in foreign markets either. The EU is likely going to have roll back its targets too. Europe isn’t buying enough EV’s for any automaker there to hit those targets. So that will cut back the amount of credits Tesla sells in Europe. With the glut of EVs in China, I don’t see who would even be buying credits there.
It’s hilarious that Musk never even tried to get Trump to keep the EV credit until after he gave all that money to get him elected. Real genius move
These two have created such an easy profit making opportunity. Whenever musk tweets against Trump buy tsla after the share tanks. Sell after a few days as the share recovers. Rinse and repeat
Us military has a 1 trillion budget. Mandate the military to buy only EVs and only US made and all problems solved. The US military is funded by 10x of whats really needed. They can live with the inefficiency. BtW the Navy already has floating nuclear reactors to provide electricity in war zones. They are called carriers. As drones make carrier based planes obsolete they can be rspurposed as charging stations.
He already had Twitter buy x.ai for more than what he paid for Twitter so he got his money back. It's now only the investors Money in Twitter but he still has voting control of twitter. He is a lot smarter than Trump which is why he is worth 400 billion and Trump is barely worth a billion ( minus the crypto scams)
I don't think he does. Tesla is big enough to survive without ev subsidies. All he really needs is to kill the subsidies for oil and gas. E.g US is bombing Iran and Yemen to keep the oil flowing. Have oil companies pay a war tax to fund these ops instead of taxpayers and gas gets a lot more expensive.
Twitter didn't by x.ai , X.ai bought twitter and Who do you think owns X.AI. If I sell something to myself it doesn't mean much in terms of the true value of that product. There was always investors money in twitter. Atleast 10 billion of the 33 billion in equity Musk paid was investors money. Rest was his own and debt(which twitter and now Xai still owes). That's why he had Xai buy twitter at face value to keep those investors happy.
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