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Tesla

A tangled EV cord.
Climate Tech

How Trump Rocked EV Charging Startups

The end of consumer electric vehicle tax credits isn’t great, but clawing back federal funding has been even worse.

Electric Vehicles

Don’t Wait! These EV Deals Won’t Last.

Unlike just about every other car sales event, this one has a real — congressionally mandated — end date.

Climate Tech

What’s Left of the LPO After the One Big Beautiful Bill?

Some of the Loan Programs Office’s signature programs are hollowed-out shells.

Electric Vehicles

Affordable EVs Are Coming — Just Not From Tesla

The new Nissan Leaf is joining a whole crop of new electric cars in the $30,000 range.

Elon Musk.

The Trump-Elon Breakup Has Cratered Tesla’s Stock

SpaceX has also now been dragged into the fight.

Hailing a Robotaxi.

Tesla’s Robo-Future Is Still Pretty Far Off

The company says its first Optimus robots will start rolling off the line in “2026.”

Electric Vehicles

Congress Could Break Tesla’s Revenue Model

Between the budget reconciliation process and an impending vote to end California’s electric vehicle standards, a lot of the EV maker’s revenue stands to go poof.

Elon Musk and the Capitol.
<p>Heatmap Illustration/Getty Images</p>

It’s shaping up to be a very bad week for Tesla. The House Committee on Energy and Commerce’s draft budget proposal released Sunday night axes two of the primary avenues by which the electric vehicle giant earns regulatory credits. Congress also appears poised to vote to revoke California’s authority to implement its Zero-Emission Vehicle program by the end of the month, another key source of credits for the automaker. The sale of all regulatory credits combined earned the company a total of $595 million in the first quarter on a net income of just $409 million — that is, they represented its entire margin of profitability. On the whole, credits represented 38% of Tesla’s net income last year.

To add insult to injury, the House Ways and Means committee on Monday proposed eliminating the Inflation Reduction Act’s $7,500 consumer EV tax credit, the used EVs tax credit, and the commercial EVs tax credit by year’s end. The move comes as part of the House’s larger budget-making process. And while it will likely be months before a new budget is finalized, with Trump seeking to extend his 2017 tax cuts and Congress limited in its spending ability, much of the IRA is on the chopping block. That is bad news for clean energy companies across the spectrum, from clean hydrogen producers to wind energy companies and battery manufacturers. But as recently as a few months ago, Tesla CEO Elon Musk was sounding cavalier.

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Podcast

Shift Key Special Edition: The Fight Over the Inflation Reduction Act Has Arrived

Rob and Jesse digest the Ways and Means budget bill live on air, alongside former Treasury advisor Luke Bassett.

The Capitol.
<p>Heatmap Illustration/Getty Images</p>

The fight over the Inflation Reduction Act has arrived. After months of discussion, the Republican majority in the House is now beginning to write, review, and argue about its plans to transform the climate law’s energy tax provisions.

We wanted to record a show about how to follow that battle. But then — halfway through recording that episode — the Republican-controlled House Ways and Means Committee dropped the first draft of its proposal to gut the IRA, and we had to review it on-air.

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