Wall Street may be skeptical about Tesla’s upcoming quarters, but CEO Elon Musk made four surprising announcements that could be game-changers — if they prove true.

In early July, President Donald Trump called out Musk directly, tweeting that Tesla might “close up shop” in the absence of government subsidies. That jab, layered with policy shifts, sent a chill through Tesla bulls. Tesla’s Q2 results are in, and they’re not pretty.

Shares in Tesla were down in premarket trading as the carmaker lays out the risks from President Trump’s tariffs and his scrapping of tax credits.