Tesla Faces Financial Impact from New Tax Legislation

According to Odaily, recent reports indicate that U.S. President Donald Trump's significant tax legislation will largely eliminate the $7,500 tax credit for certain Tesla models and other electric vehicle buyers by the end of this year, seven years earlier than initially planned. Analysts from JPMorgan suggest this change could result in a $1.2 billion hit to Tesla's annual profits. Following his departure from an official advisory role at the White House last week, Elon Musk has been actively opposing the President's signing of the tax bill, describing it as "disgusting." Musk has been lobbying Republican lawmakers, including making direct appeals to House Speaker Johnson, to retain the electric vehicle tax credits in the legislation.