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Monday, 1 August 2016
#Tesla Reports Staggering $293M Q2 Loss
Inefficiencies in new economic infrastructure aren’t exactly new. Because the state doesn’t centrally plan and roll out new technologies in a completely rational fashion—matching demand, distribution, and supply—wrinkles and bubbles develop. Incentives may be available for one component of the technology but not for others. And so overinvestment in one stage of the process coincides with underinvestment in another stage. Which is why we have bubbles. The earliest telegraph lines from Boston to New York City stopped at the Hudson River—and messages had to be carried across the Hudson on a boat. In the 1990s, information would travel at rapid speeds across the country on fast cables but slow down in the last mile. (I wrote a book about this in 2007.)
In June, VW Group agreed to a $15 billion settlement with the Department of Justice. The agreement mandates that the automaker buy cars back from their owners at the price their vehicles were worth before VW Group’s cheating scandal came to light. Owners and lessees of affected diesels will also receive $5,100 to $10,000, depending on the vehicle (a graduated table of settlement payments can be found here). If CARB approves a fix for the affected diesels, owners could also opt to pass up the buyback and have their car fixed for free. That would save VW Group money out of the $10 billion set aside for buybacks.
Posted by Unknown at 15:40
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- #Tesla Reports Staggering $293M Q2 Loss
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