EV Direct Sales Banned In New York, Tesla Using This Loophole To Get Around Law
Portfolio Pulse from Chris Katje
Tesla Inc (TSLA) is using a loophole to bypass laws prohibiting direct sales of electric vehicles in New York by setting up showrooms on Native American-owned land. The company plans to open a 25,000-square-foot showroom on land owned by the Oneida Indian Nation in 2025.
June 07, 2023 | 9:54 pm
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Tesla is using a loophole to bypass direct sales bans in New York by setting up showrooms on Native American-owned land, allowing the company to expand its presence in the state.
Tesla's use of the loophole allows the company to expand its presence in New York without needing to change old laws or fight against dealerships attempting to block out the competition. This move could potentially increase Tesla's sales and market share in the state, positively impacting its stock price in the short term.
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