California EV rebate plan could help Tesla, but investors stay cautious

California is weighing a $200 million electric-vehicle subsidy for first-time buyers, with price caps of $55,000 for cars and $80,000 for pickups/SUVs/vans (used EVs under $25k eligible too). If enacted, it could bolster Tesla after the loss of federal rebates, but TSLA shares fell modestly on the news and analysts largely view the stock as a Hold with an average target around $393.51, signaling limited upside until broader catalysts like a SpaceX/xAI merger and Starlink cash flow materialize.