Canada Freezes $43M in Suspicious Tesla Rebates. Tesla's Claim of 1.5 Sales Per Minute Under Scrutiny.
Canada Freezes $43M in Suspicious Tesla Rebates. Tesla's Claim of 1.5 Sales Per Minute Under Scrutiny.
Looks like Tesla’s reliance on government subsidies has finally hit a wall in Canada. After Tesla requested reimbursement for an unprecedented 8,669 Canadian EV rebates in just three days, the Canadian government froze Tesla’s rebate payments and paused all future eligibility for federal rebates. Fo...
Looks like Tesla’s profiting off government subsidies has finally hit a wall in Canada.
After Tesla requested reimbursement for an unprecedented 8,669 Canadian EV rebates in just three days, the Canadian government froze Tesla’s rebate payments and paused all future eligibility.
For those keeping score, Tesla claimed to sell 1.5 vehicles per minute, a huge spike that came after the company was alerted that the rebate fund would run out.
That means that $43 million in Tesla rebate payments are frozen and future subsidies paused. Read on for the full story!
Hopefully, there's a criminal fraud investigation around the corner.
Hey Canada, you do have the right to kick this company out of your fine nation. Just a reminder.
"Billionaires hate this one trick!"
Why a billionaire needs to lap up such a comparatively small amount of money is beyond me. Taking all this risk, doing something that would be so blatantly obvious... What's the point?
You don't become a billionaire by not finding a way to abuse and exploit every single possible way to earn an extra buck.
I wondered the same thing.
Spite? Muscle memory, from when he wasn't a billionaire? Or we might see a self-selection thing happening. The folks who have any point where they are sated, those folks, we never even notice those folks, they do good in business and never get public attention. Billionaires are only the folks where the chase broke some limiting factor in them, they have no satiation point, and so folks notice them.
I dont know if this is what they did but... Its not illegal to legitimately sell the cars to the dealerships at cost, get the rebates and then have the dealerships sell the cars as "demonstrators" or "dealer stock"
You're now technically selling a used car, but to someone buying a car saving a few grand "why is that one cheaper" "Ah its technically a demonstration model, but we never put any miles on it. So instead of 5 years warranty, you get 4 years 10 months, but it is $10,000 cheaper." Can be a hell of a motivator.
Also it pumps Teslas short term numbers and move old stock at the same time.
I think you'll find that (aside from Tesla dealerships not being independent businesses) judges aren't stupid. They issue judgements on what things are, not what you call them.
This kind of legal shenanigan has been smacked down time and time again (even in corrupt third-world countries like the USA!) to the scammers' shock. Tesla is fucking around ... and finding out.
Boss, you just described an absolutely bog-standard type of fraud XD If that is what occurred, people will go to prison.
The Canadian program also has, you know, rules. Rebates are marked as commercial or consumer. Every sales record I saw for the Teslas in question here, they were entirely consumer-grade from what I saw. So, if Tesla was selling the cars to themselves, they applied for the wrong type of rebate.
Geez that could hurt their reputation.