Elon Musk is feeling a bit pissy today, telling President Joe Biden to stick his $7,500-per-car federal credit for Tesla in the bin, preferably with the rest of his agenda—and oil and gas subsidies, while he’s at, as if that is even remotely possible. We just can’t help noticing that Elon’s sour mood toward the government—with exceptions: he’d be happy for some space subsidies, thank you very much—also happens to coincide with his latest run-in with his least favorite regulator.
The U.S. Securities and Exchange Commission has opened an investigation into Tesla Inc. that touches at least in part on the company’s solar-cell activity…. Walmart Inc. sued Tesla in 2019 over allegations that some of the solar panels installed on the roofs of their stores had sparked fires. The company said the fires cost them hundreds of thousands of dollars to repair.
And, to make things worse, there’s this.
Intel Corp. is planning to publicly list shares in its Mobileye self-driving-car unit…. Mobileye’s revenues have roughly tripled since Intel bought it. It had $326 million of revenue in the third quarter, a 39% year-over-year increase….
By relisting shares of Mobileye, Intel could tap into surging investor demand for companies betting on the future of transportation. The initial public offering market has also been on a tear, with investors clamoring for new technology issues.
So, yea, all things considered, Mr. President, he could do without any further inducement to competition.
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