Forum Discussion
SidecarFlip
Nov 03, 2017Explorer III
MEXICOWANDERER wrote:
Tesla Gloom cut n paste....
Tesla's share price took a dive Thursday morning as Republicans in Congress revealed they were planning to kill off a US federal tax credit for electric vehicles.
The proposed House tax bill calls for an immediate repeal of the $7,500-per-vehicle credit: something that would have an immediate knock-on impact for Tesla given that it only produces electric cars.
Its share price fell more than seven per cent to about $296 apiece from Wednesday's $321. The draft law emerged as the Elon-Musk-led automaker announced its worst-ever quarter, recording a $671m loss and admitting it had not met its production target for its new Model 3 car, producing just 220 of them against its 1,500 target.
Personally, I find that to just be sound reasoning. Sort of like the ethanol subsidy. Neither ethanol or Tesla can be profitable without heavy government subsidy (aka: taxpayer funding). Elon has his Space X to fall back on though. Telsa could fold tomorrow and I would not miss it.
On 20 years, I wonder if the Tesla will be compared to the Briklin.
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