News
‘Deceptive’ LA Times Article Stuns Elon Musk

Media companies have been going through continuous upheaval for the last 10 years, as newspapers and magazines find ways to provide online value to readers and advertisers. No real context or value was provided recently via the LA Times on Elon Musk’s empire.
To paraphrase Elon Musk, he thought the article was very misleading and context was slim as the piece provides a picture of heavy government dependence on subsidies for his three companies.
Here’s an example of Hirsch’s context on the initial seed money to start SpaceX:
Hirsh: Musk and his investors have also put large sums of private capital into the companies.
Large sums, seriously? You write for the LA Times, not TMZ.
If you read the piece, the LA Times article is full of facts and exact money figures of government credits and subsidies that has helped Elon Musk’s three companies over the last 13 years.
So how can you not include that Elon Musk provided up to $100 million dollars of his own money to start SpaceX –and more later– and somewhere around $19 million, approximately, with two investment rounds for Tesla Motors when the electric carmaker was working out of a garage in Palo Alto.
This screed was something like 1500 words, he had some room for other figures but chose to leave them out.
So as the article talks about his empire, Hirsch provides no real context to the industries tied to Musk’s companies. One of SpaceX’s competitors is Boeing and the little company out of Seattle, Wash. has received a LOT of government incentives and subsidies, but no facts or figures from Hirsch.
In early 2000s, this is what Boeing received from Washington state as it played hardball on a new plant (from Good Jobs First, citations at the link’s bottom):
Governor Gary Locke got his way, and Boeing ended up with a package of research & development tax credits and cuts in Business & Occupation taxes (the state’s substitute for a corporate income tax), sales taxes and property taxes that together were estimated to be worth $3.2 billion over 20 years.
Or, in 2014, German carmaker Volkswagen received $230 million from Tennessee to help fund a $600 million plant expansion in Chattanooga, expected to create 2,000 jobs. Tesla expects the gigafactory to produce 5,000 jobs when fully operational, in comparison.
Musk spoke to CNBC yesterday and touched on many topics, but he made sure to point out the biggest welfare queen (king?).
“The incentives that Tesla and Solar City are tiny, compared to what the Oil and Gas industry receives every year,” Musk said. “If you add up all the past and future, it’s a drop in the bucket compared to what the oil and gas industry gets every year.”
Hirsch couldn’t find room for the the oil and gas industry’s subsidies from the Energy Policy Act of 2005, which gave the industry $1.9 billion a year in subsidies, 2014 dollars.
In California, Musk also mentioned to CNBC that the California zero emission vehicle credits program started twenty years ago when Musk’s empire was a dorm room in Canada.
You could expect a two-dimensional article post from SeekingAlpha, but not the LA Times. Hirsch seems guilty of missing badly on context and having a narrative with no “Opinion” label anywhere.
Food for thought:
Fossil fuels subsidised by $10m a minute, says IMF http://t.co/c4nsZjXc32
— Elon Musk (@elonmusk) May 19, 2015
Elon Musk
Tesla analysts believe Musk and Trump feud will pass
Tesla CEO Elon Musk and U.S. President Donald Trump’s feud shall pass, several bulls say.

Tesla analysts are breaking down the current feud between CEO Elon Musk and U.S. President Donald Trump, as the two continue to disagree on the “Big Beautiful Bill” and its impact on the country’s national debt.
Musk, who headed the Department of Government Efficiency (DOGE) under the Trump Administration, left his post in May. Soon thereafter, he and President Trump entered a very public and verbal disagreement, where things turned sour. They reconciled to an extent, and things seemed to be in the past.
However, the second disagreement between the two started on Monday, as Musk continued to push back on the “Big Beautiful Bill” that the Trump administration is attempting to sign into law. It would, by Musk’s estimation, increase spending and reverse the work DOGE did to trim the deficit.
Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame!
And they will lose their primary next year if it is the last thing I do on this Earth.
— Elon Musk (@elonmusk) June 30, 2025
President Trump has hinted that DOGE could be “the monster” that “eats Elon,” threatening to end the subsidies that SpaceX and Tesla receive. Musk has not been opposed to ending government subsidies for companies, including his own, as long as they are all abolished.
How Tesla could benefit from the ‘Big Beautiful Bill’ that axes EV subsidies
Despite this contentious back-and-forth between the two, analysts are sharing their opinions now, and a few of the more bullish Tesla observers are convinced that this feud will pass, Trump and Musk will resolve their differences as they have before, and things will return to normal.
ARK Invest’s Cathie Wood said this morning that the feud between Musk and Trump is another example of “this too shall pass:”
BREAKING: CATHIE WOOD SAYS — ELON AND TRUMP FEUD “WILL PASS” 👀 $TSLA
She remains bullish ! pic.twitter.com/w5rW2gfCkx
— TheSonOfWalkley (@TheSonOfWalkley) July 1, 2025
Additionally, Wedbush’s Dan Ives, in a note to investors this morning, said that the situation “will settle:”
“We believe this situation will settle and at the end of the day Musk needs Trump and Trump needs Musk given the AI Arms Race going on between the US and China. The jabs between Musk and Trump will continue as the Budget rolls through Congress but Tesla investors want Musk to focus on driving Tesla and stop this political angle…which has turned into a life of its own in a roller coaster ride since the November elections.”
Tesla shares are down about 5 percent at 3:10 p.m. on the East Coast.
Elon Musk
Tesla scrambles after Musk sidekick exit, CEO takes over sales
Tesla CEO Elon Musk is reportedly overseeing sales in North America and Europe, Bloomberg reports.

Tesla scrambled its executives around following the exit of CEO Elon Musk’s sidekick last week, Omead Afshar. Afshar was relieved of his duties as Head of Sales for both North America and Europe.
Bloomberg is reporting that Musk is now overseeing both regions for sales, according to sources familiar with the matter. Afshar left the company last week, likely due to slow sales in both markets, ending a seven-year term with the electric automaker.
Tesla’s Omead Afshar, known as Elon Musk’s right-hand man, leaves company: reports
Afshar was promoted to the role late last year as Musk was becoming more involved in the road to the White House with President Donald Trump.
Afshar, whose LinkedIn account stated he was working within the “Office of the CEO,” was known as Musk’s right-hand man for years.
Additionally, Tom Zhu, currently the Senior Vice President of Automotive at Tesla, will oversee sales in Asia, according to the report.
It is a scramble by Tesla to get the company’s proven executives over the pain points the automaker has found halfway through the year. Sales are looking to be close to the 1.8 million vehicles the company delivered in both of the past two years.
Tesla is pivoting to pay more attention to the struggling automotive sales that it has felt over the past six months. Although it is still performing well and is the best-selling EV maker by a long way, it is struggling to find growth despite redesigning its vehicles and launching new tech and improvements within them.
The company is also looking to focus more on its deployment of autonomous tech, especially as it recently launched its Robotaxi platform in Austin just over a week ago.
However, while this is the long-term catalyst for Tesla, sales still need some work, and it appears the company’s strategy is to put its biggest guns on its biggest problems.
News
Tesla upgrades Model 3 and Model Y in China, hikes price for long-range sedan
Tesla’s long-range Model 3 now comes with a higher CLTC-rated range of 753 km (468 miles).

Tesla has rolled out a series of quiet upgrades to its Model 3 and Model Y in China, enhancing range and performance for long-range variants. The updates come with a price hike for the Model 3 Long Range All-Wheel Drive, which now costs RMB 285,500 (about $39,300), up RMB 10,000 ($1,400) from the previous price.
Model 3 gets acceleration boost, extended range
Tesla’s long-range Model 3 now comes with a higher CLTC-rated range of 753 km (468 miles), up from 713 km (443 miles), and a faster 0–100 km/h acceleration time of 3.8 seconds, down from 4.4 seconds. These changes suggest that Tesla has bundled the previously optional Acceleration Boost for the Model 3, once priced at RMB 14,100 ($1,968), as a standard feature.
Delivery wait times for the long-range Model 3 have also been shortened, from 3–5 weeks to just 1–3 weeks, as per CNEV Post. No changes were made to the entry-level RWD or Performance versions, which retain their RMB 235,500 and RMB 339,500 price points, respectively. Wait times for those trims also remain at 1–3 weeks and 8–10 weeks.
Model Y range increases, pricing holds steady
The Model Y Long Range has also seen its CLTC-rated range increase from 719 km (447 miles) to 750 km (466 miles), though its price remains unchanged at RMB 313,500 ($43,759). The model maintains a 0–100 km/h time of 4.3 seconds.
Tesla also updated delivery times for the Model Y lineup. The Long Range variant now shows a wait time of 1–3 weeks, an improvement from the previous 3–5 weeks. The entry-level RWD version maintained its starting price of RMB 263,500, though its delivery window is now shorter at 2–4 weeks.
Tesla continues to offer several purchase incentives in China, including an RMB 8,000 discount for select paint options, an RMB 8,000 insurance subsidy, and five years of interest-free financing for eligible variants.
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