How Tesla stands to suffer from Elon Musk's big bet on Republicans
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Also in the past few weeks, the House and Senate
adopted California's rule.
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While California is vowing to fight the move in court, other states are backing off voluntarily. Last week, the Healey administration said it
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The loss of California and other states' minimum EV sales rules could hit Tesla hardest of all. That's because under the rules, car makers that can't meet the minimum sales threshold must buy credits from car makers that sold more than the minimum. And since Tesla only sells EVs and is well above the minimum required, it has been raking in billions of dollars a year selling credits to rival car companies.
In the first quarter, Tesla made $595 million (of almost pure profit) by selling credits. Its net income for the quarter
Even before the Republican policy moves, Tesla sales were under pressure amid
Lately, Musk is
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