STORY: The dispute between Republican President Donald Trump and Tesla CEO Elon Musk escalated on Saturday when the space and automotive billionaire announced the formation of a new political party, saying Trump’s tax-cut and spending bill would bankrupt America.
The sweeping legislation approved by Congress and signed by Trump means $7,500 tax credits for buying or leasing new electric vehicles will end on September 30, as well as a $4,000 used EV credit that has helped boost green vehicle sales in recent years.
Sissel said Musk’s public feud with the administration “will have negative impacts on Tesla specifically. If you look at the ‘big, beautiful bill,’ the CAFE credits that incentivize fuel economy and that were positive and actually had a specific and measurable impact on revenue at Tesla are no longer in place, and this will impact Tesla revenue.”
