Thursday, August 16, 2018

GRASPING MUSK SUING ONTARIO GOVERNMENT

  These days when one hears "Tesla" and "lawsuit" in the same sentence, conventional wisdom is that yet another disgruntled investor is suing Elon Musk's company and/or Musk himself, seeking recoveries from Musk's "going private" tweet, either longs or shorts. In this case however, the tables are turned, because as Electrek reports, one month after the Ontario government shut down its "generous" EV rebate, Tesla is suing the Ontario government claiming it  "deliberately and arbitrarily" targeted the company, discriminating against Tesla based on how it was treated differently from other automakers through the shutdown of the EV incentives.
   This is what happened: after the election of the Conservative party in June, Doug Ford, the party’s leader, said that they were shutting down the cap-and-trade program, which was financing the EV rebate - which was worth up to $14,000 - to finance a 10-cent per litre tax reduction on gasoline.

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