Tesla likely to face ‘a few rough quarters’ from end of US EV support: CEO Elon Musk

Tesla chief executive Elon Musk said on Wednesday that US government cuts in support for electric vehicle makers could lead to a “few rough quarters” for the company before a wave of revenue from self-driving software and services begins late next year. Shares fell nearly 5% after Musk responded on a quarterly results conference call to questions about new US government policies under President Donald Trump.

Musk’s electric vehicle maker posted the worst quarterly sales decline in more than a decade and profit that missed Wall Street targets, but its…