JPMorgan: The Trump tax plan may cause a $1.2 billion annual profit loss for TSL.

On June 5, through the end of the year, Trump’s huge tax bill will largely eliminate up to $7,500 in tax credits for buyers of some Tesla models and other electric vehicles, seven years earlier than originally planned. JPMorgan analysts say this will hit Tesla’s full-year profit by about $1.2 billion. After leaving his official White House adviser position last week, Musk has been blocking the president from signing the tax bill, which he called “disgusting.” Musk has been lobbying Republican lawmakers — including by calling directly to House Speaker Johnson to keep the EV tax credit in legislation. ( ) According to market data, the U.S. stock Tesla once fell more than 5.5% today, and is currently down 3.6%, and the stock price is at $320.