危急时刻，特朗普还是特斯拉？马斯克面临“二选一”

Core Insights - Elon Musk plans to significantly reduce his involvement with the Trump administration to focus on Tesla, indicating potential distress within the company [1][3] - Tesla's net income for Q1 was $409 million, a 71% decrease year-over-year, and its stock price has dropped nearly 37% since the beginning of the year [3][4] Financial Performance - Tesla's Q1 net income was reported at $409 million, down 71% compared to the same period last year [3][4] - Tesla's stock price closed at $238 per share, reflecting a decline of nearly 37% year-to-date [3][4] Market Challenges - The company's production and sales have been adversely affected by Trump's tariff policies, leading to a suspension of plans to ship components from China [4][5] - Tesla's Model S/X vehicles, produced in the U.S., face high tariffs and have been removed from the Chinese market, halting new orders [4] - In Q1 2025, Tesla's sales in Europe plummeted, with declines exceeding 50% in major markets like Germany, Denmark, and Sweden, and a near 50% drop in the Netherlands [4] Strategic Decisions - Musk has requested the removal of reciprocal tariffs, but Trump's response was dismissive, indicating a lack of support for Tesla's position [5][6] - Musk's decision to distance himself from Trump is seen as a necessary step to protect Tesla's interests amid growing backlash against the administration's policies [6][7] Competitive Landscape - In contrast, Tesla's retail sales in China remained stable in Q1 2025, suggesting that the company has found a stronghold in the Chinese market despite challenges in the U.S. [7] - The competitive environment in China's electric vehicle market remains intense, yet Tesla's operations there have not faced significant disruptions [7]