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Elon Musk wrecking ball

Tesla CEO Elon Musk managed to find a way to turn lobbying, which is typically one of the most efficient ways to spend money as a company, into a net revenue loser for his company – flipping the script again from a true “innovator” in the field of corporate destruction.

Tesla released its 10-Q filing today, to supplement its Q3 shareholder letter and conference call from yesterday’s quarterly report.

The filing gives us more detail about what’s going on with Tesla’s financials, namely, how Tesla managed to have record revenue last quarter and yet still have a 40% drop in operating income from the year-ago quarter.

One explanation for this drop is lost revenue from regulatory credits. Regulatory credits have been a relatively stable portion of Tesla’s earnings over the years, as it is one of few companies producing more electric vehicles than it is legally required to.

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What are regulatory credits?

Several governments have committed to reducing pollution, and one way that they can do so is by requiring automakers to make less-polluting vehicles.

Generally, if an automaker fails to meet the guidelines set up by government, they have to pay a penalty for polluting the air too much and harming everyone with that pollution. Or, instead of paying that penalty, they can buy credits from a company that exceeded the guidelines, thus transferring money from the companies that are doing a bad job to the companies that are doing a good job.

Every government has a slightly different way of implementing requirements and credit swaps, but this is generally how it works on a high level.

Put aside for the moment that these penalties, or the cost of credit swaps, are almost always far lower than the actual amount of damage done by pollution, this is at least one method that governments can and have used to try to encourage cleaner air and lower health costs for the populations they govern.

Rules changed by republicans to cost you more money

That is, until the republican party came along. Buried in the $4 trillion giveaway to wealthy elites passed by republicans earlier this year was another provision to reduce the cost of regulatory fines in the US to $0.

Congress could not legally eliminate the fines, since they are mandated by the Clean Air Act, and republicans in Congress didn’t want to modify the Clean Air Act because it would be more obvious to everyone that they want dirty air, and because they didn’t have the votes to do so. But they did have the votes to do an end-run around democracy and eliminate the fines, which makes the regulation effectively useless.

So now, automakers have less incentive to work on making their cars more efficient. This means you’ll be buying more gasoline, that each gallon will have higher prices (and the increased price won’t go to any social good, but rather to line oil companies’ pockets), and that you’ll suffer from more air pollution which leads to higher health costs for everyone.

When, in contrast, President Biden had strengthened this rule, just the modifications made by his administration were estimated to save $600-700 over the lifetime of each vehicle, or $23 billion in total across the US. But that’s only from Biden’s improvement of the rule; the rule in total saves much more, in comparison to not having the rule at all.

But what does this all have to Elon Musk?

Elon Musk lobbied to have these rules removed, harming his company

During the 2024 US election, Elon Musk spent a total of $288 million on bribes to get anti-EV candidates elected. He did this despite full public knowledge that these candidates opposed electric vehicles, and had promised to harm them.

But, due to Musk’s social media addiction to his bizarre upside-down twitter feed, he and many others convinced themselves that somehow, harming EVs would be good for EVs.

So, Musk spent the millions, got what he wanted, claims it was all because of him (egotistical much?), and as a result, his company… is worse off.

According to the company’s 10-Q filing, Tesla lost $1.41 billion worth of revenue in just the last 9 months that it would have had if not for changes in regulatory regimes. Here’s the passage, in financial speak:

Automotive Regulatory Credits

As of September 30, 2025, total transaction price allocated to performance obligations that were unsatisfied or partially unsatisfied for contracts with an original expected length of more than one year was $3.27 billion. Of this amount, we expect to recognize $877 million in the next 12 months and the rest over the remaining performance obligation period. Changes in regulations on automotive regulatory credits may significantly impact our remaining performance obligations and revenue to be recognized under these contracts. In 2025, governmental and regulatory actions have repealed and/or restricted certain regulatory credit programs tied to our products, contributing to the $1.41 billion decrease in our remaining performance obligations as of September 30, 2025 compared to December 31, 2024.

Translated, that means that the value of the various contracts that Tesla has to sell regulatory credits to other companies has reduced by $1.41 billion dollars as compared to where they were at the end of last year. Tesla says that the specific reason for this is due to the change in regulatory credits that its bad CEO lobbied for.

Some could argue that the value of Musk’s lobbying was to get a foot in the door, and to be able to influence republicans to do less anti-EV stuff than they might have otherwise done, but that hasn’t turned out to be the case. There is no indication that republicans have softened their anti-EV position, and in fact, they keep doubling down on trying to harm you and ignoring science. And besides, Musk hasn’t even maintained any relationships, after a very public breakup.

So, somehow, Musk managed to turn lobbying spend from one of the most efficient possible ways a corporation can spend money, into one of the most inefficient ways.

Lobbying is generally highly efficient spend; Musk flips the script again

Normally, lobbying is considered an incredibly efficient way for companies to make money. Various analyses have suggested that the average return on investment from lobbying dollars is anywhere between 22,000% and 104,000%. (Yes, this is a problem, but it’s not what we’re discussing at the moment).

However, in this case, lobbying produced a loss of 489% of the money spent – and that’s just counting the losses caused by the last 9 months, and only in regulatory credits. Those credits are pure profit, too, with no cost of revenue associated with them, so this is just a straight loss of money for the company and its shareholders.

In addition to those losses, there’s the lost revenue from vehicle sales. While this has not yet been recognized by the company, going forward Tesla sales will experience a dip now that all of Tesla’s automotive and home energy products – essentially, all of the products that Tesla sells – have been made more expensive in the US due to political changes.

Either Tesla can choose to lower prices to maintain post-credit pricing and take a hit to margins of $7,500 per vehicle and 30% on home energy products, or it can hold prices the same and lose customers due to lower affordability of its products, or it can release subpar long-awaited products that cost more and are worse than the thing they’re replacing.

Needless to say, none of these options are great for business.

And so, since vehicle credits didn’t end until the end of Q3, and since home energy credits go away at the end of this quarter (and if you want your last chance to get in before they do, get started here), that means business going forward from this quarter will be a lot worse.

In addition to the lost revenue from credits, there is another issue which is more difficult to track, but is definitely happening.

That is the issue of brand damage that Musk’s political activities have had on the company. Tesla is the only EV brand with negative perception, and it’s directly correlated to Musk’s political activities. His actions haven’t just harmed Tesla domestically, but abroad, where the company has lost business opportunities in in the UK, Australia, Germany, Denmark, and has seen falling sales in most territories, along with protests and embarrassed owners.

Tesla has already lost a lot of sales and will lose more, which means less revenue, and less profit. That $1.41 billion is just a start.

Despite directly harming Tesla, Musk wants you to pay him $1 trillion to stay on

Despite this horrendously inefficient use of funds by a CEO who has shown time and time again that he is outright hostile to the company he runs, Musk has also directed the company to spend more funds on an advertising effort to give him up to $1 trillion worth of Tesla stock.

The trillion-dollar number takes into account some optimistic stock growth for the company (which is unlikely given Musk’s recent performance as CEO, where earnings have dropped precipitously), but is still around 40x more than Tesla has ever made over its entire history. It’s also the largest CEO payday in history by multiple orders of magnitude.

Regardless of whether stock appreciates enough to give Musk all the shares covered under the plan, there is still room in the proposals for him to be granted well over 200 million newly printed shares of stock for doing nothing whatsoever, leading to dilution of voting rights and share value for current shareholders. The plan gives Musk’s personal friends on Tesla’s board significant discretion in this matter, and saddles the company with his poor leadership for another decade.

It would also give him a huge source of wealth, which he could turn into cash, to spend on other lobbying activities to harm Tesla’s business, as he has proven above that he is happy to do. If Musk can manage to lose Tesla $1.41 billion plus with $288 million, imagine what he could do with $1 trillion.

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Podcast: Electricity is the base currency, Tesla Robotaxi crashes, new Porsche Cayenne EV, and more

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2 hours ago

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November 21, 2025

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Podcast: Electricity is the base currency, Tesla Robotaxi crashes, new Porsche Cayenne EV, and more

electrek podcast

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss electricity becoming the base currency, Tesla Robotaxi crashes, the new Porsche Cayenne EV, and more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

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We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:


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Wallbox pushes new wave of EV chargers across the Mountain West

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3 hours ago

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November 21, 2025

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Wallbox pushes new wave of EV chargers across the Mountain West

Wallbox Mountain West

Image: Wallbox

Wallbox is ramping up its partnership with distributor Codale Electric Supply to roll out more EV chargers across the Mountain West, a region that’s seeing a rapid escalation of electrification programs and regional highway corridor build-outs.

Codale has become one of Wallbox’s most active distributors over the past two years, helping contractors, developers, and fleet operators procure Wallbox gear while also providing technical support and logistics. Now the two companies are scaling both AC and DC fast charging across Utah, Idaho, Wyoming, and Nevada.

Under the new agreement, Codale will prioritize Wallbox Supernova DC fast chargers and Pulsar Family AC chargers. Codale is already coordinating upgrades of older charging systems and installing new ones across public, commercial, and multifamily sites. Early projects include collaborations with several charge point operators and large commercial portfolios, some of which are rolling out Supernova units in Q4.

The Mountain West has become a hotspot for charging expansion, and Wallbox and Codale say their partnership is designed to keep pace by streamlining installation and improving network reliability.

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Ignasi Alastuey, Wallbox’s chief business officer, said, “This partnership combines Wallbox’s innovation with Codale’s on-the-ground capabilities to rapidly scale charging networks across the Mountain West and set a new benchmark for EV infrastructure growth.”

Read more: Wallbox expands its bidirectional EV charger program in the US

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Black Friday savings keep growing with up to 80% off EcoFlow power stations, Samsung smart appliances, Autel EV charger/solar cams, more

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4 hours ago

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November 21, 2025

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Black Friday savings keep growing with up to 80% off EcoFlow power stations, Samsung smart appliances, Autel EV charger/solar cams, more


Following suit from yesterday’s edition, today’s Green Deals are packed with better-than-ever full holiday savings, led by EcoFlow’s next phase of its Black Friday Sale event with up to 80% discounts on backup power solutions, complete with bonus savings, free gifts, and new low prices – all starting from $149 + the phase’s first 48-hour flash sale. There’s also Samsung’s Black Friday appliance sale that can save you hundreds to thousands on smart energy-conscious washer/dryers, refrigerators, ovens, dishwashers, and more – starting from $269, as well as a new low price on Autel’s 50A MaxiCharger AC Lite EV Charging Station at $398 (plus the latest solar-powered security cameras). There’s also Black Friday roundups of DJI equipment, EGO Power+ tools, smart ambient lighting devices, a collection of one-day-only Best Buy deals, like Greenworks’ STEALTH electric mini-bike, and more waiting for you below. And don’t forget about the hangover deals that are collected together at the bottom of the page, like yesterday’s increased Anker SOLIX Black Friday savings, Segway’s new Navimow robotic lawn mower lows + increased Ninebot EV savings, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

EcoFlow launches next Black Friday Sale phase with up to 80% off expanded lineup – starts from $149

EcoFlow has officially switched to its next Black Friday Sale phase of deals with up to 80% discounts, plenty of FREE gifts, bonus savings, and more. Among the new lineup, we spotted EcoFlow’s DELTA Pro Portable Power Station bundled with 2x 220W solar panels and a FREE protective bag at $1,699 shipped, which is not only being exclusively offered direct from the brand, but is also dropping things lower than ever. One thing to note here is that, sadly, the extra savings code isn’t valid on this bundle. It would normally run you $5,199 for everything (including the $99 bag), with the bagless bundle at Amazon keeping lower at a starting rate of $3,999 and only dropping to $1,999 right now. This deal comes in $100 under its previous offer during the brand’s Halloween Sale, giving you a total $2,300 off the going rate ($3,500 off the MSRP) for the best new price that we have tracked anywhere. Be sure to head below to check out the newest phase of full Black Friday deals.

EcoFlow’s DELTA Pro power station is among the most beloved and highly rated backup power solutions from under the brand’s flag, and this solar bundle is quite the setup to grab now that it’s fallen so low in price. Covering away-from-home trips, as well as at-home emergencies, this station starts at a 3,600Wh LiFePO4 capacity that you can expand up to its 25kWh max with further investments. Your devices and appliances can receive up to 3,600W of regular power through the 14 output ports, with it even surging as high as 7,200W for those larger appliances that need more. You’ll be 440W closer to reaching its 1,600W max solar input, thanks to the bundled panels, with additional options for recharging from an AC outlet, as well as your car’s auxiliary port (or by using a compatible alternator charger).

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***Note: EcoFlow is continuing the usage of the promo code 25EFBFAFF at checkout for an extra 5% savings off your cart’s total, with none of the prices below having it factored in. Keep in mind that a number of offers are ineligible to receive the extra savings, but be sure to try it at checkout to ensure you’re getting the best possible savings during EcoFlow’s Black Friday Sale!

EcoFlow’s other direct Black Friday website-only deals/bundles:

EcoFlow’s best Black Friday Amazon deals:

EcoFlow’s best Black Friday Sale picks:

EcoFlow’s 1-2kWh Black Friday Sale deals:

EcoFlow’s 3-6kWh Black Friday Sale deals:

EcoFlow’s outdoor adventure power deals:

EcoFlow solar panel deals:

EcoFlow’s other add-on accessory deals:

Samsung smart appliance washer and dryer installed in wall with clothes hanging around it

Save thousands for Black Friday on Samsung smart washer/dryers, refrigerators, ovens, and more starting from $269

As part of Samsung’s ongoing Black Friday Sale event, we’re seeing deals that can save you hundreds to thousands of dollars on the smartest home appliance upgrades, including the Bespoke AI All-in-One Ventless Washer/Dryer Combo at $1,999 shipped, which is actually going for $110 less at Best Buy. There’s also the newer Vented Bespoke AI All-in-One Combo at $1,999 shipped, which you won’t find at Best Buy. The ventless model normally fetches $3,299 without discounts ($3,099 for the vented counterpart) direct from the brand, and starts lower at $2,970 at Best Buy, with 2025 having seen it more often down at $2,199 during sales. While we have seen it go lower in the past, especially 2024, you’re otherwise looking at the best prices we have tracked this year, letting you upgrade to a smarter way to do laundry with up to $1,300 savings, or save more by going with Samsung’s open-box option for $1,599 on the washer/dryer’s sale page down on the right-side options.

Alongside the washer/dryer combos above, we’ve curated a full list of Samsung’s best Black Friday appliance deals on other washers, dryers, refrigerators, ovens, dishwashers, and more that you can browse by checking out our original coverage of this sale here.

man uses Autel EV charger with electric vehicle

Autel’s MaxiCharger AC Lite level 2 EV charger grants up to 50A speeds at new $398 Black Friday low (Save $171)

As part of Amazon’s ongoing Black Friday Sale event, Autel’s official storefront is offering its MaxiCharger AC Lite Home 50A Level 2 EV Charging Station for $398.20 shipped, matching the price we’re seeing direct from the brand’s website. Normally going for $569 outside of discounts, we’ve seen this model go as low as $450 in 2025, with today’s deal giving you a total $171 markdown off the full rate that beats out last year’s Black Friday pricing by $1 for a new all-time low.

You can learn more about this higher-powered EV charging solution by checking out our original coverage of this deal here. You can also find the brand’s latest solar-powered 2-cam and 4-cam Outdoor Wireless Security Camera kits that sport some unique features and currently start from $249.

DJI Power 2000 power station in living room in front of couch with sleeping man
holiday banner for EGO Power+ tools
Govee Matter Outdoor Lamp Post illuminating yard

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.


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