Key Takeaways Tesla shares jumped Wednesday morning, despite the EV maker's first-quarter results missing analysts' estimates.CEO Elon Musk said in Tuesday's earnings call that he will scale back his government work starting next month,

There are various challenges ahead, including tariffs, an evolving EV market and a history of delays on new products.

For Tesla, the quarterly financial consequences of Musk’s decision to wield the hatchet for Trump’s attack on federal jobs, public programs and civil society couldn’t be clearer. In the longer run, Tesla faces big-world challenges,