"The president-elect has asked Elon Musk to wage war on regulations — some of which helped make Tesla the world’s most valuable automaker."
"Elon Musk has said America is being “strangled to death” by regulations. But the billionaire’s car company, Tesla, might not have survived without them.
The electric automaker earned $10.7 billion from selling credits created by government climate programs — a total that accounted for a third of Tesla’s profits over the last decade, according to an analysis of securities filings by POLITICO’s E&E News. In the first nine months of 2024, some 43 percent of its net income came from those credits, which Tesla sold to rival carmakers after exceeding climate mandates in California and elsewhere.
Now President-elect Donald Trump, whose campaign was bankrolled with the help of Musk, is threatening to pull the plug on some of the environmental programs that have powered Tesla’s rise. That is prompting questions about whether Musk will seek to protect rules that have helped make him the world’s wealthiest person, or if he’ll support Trump’s promise to put the brakes on federal initiatives for electric vehicles."
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