Jump to content
News
Reviews
Discussons
Activity
Create New...
Close

Michigan Blocks Tesla Sales in State, Yet State Invests in Tesla

David

By David
in Tesla

 Share

Recommended Posts

David Grand Master

David

Posted
Posted

G. David Felt
Staff Writer Alternative Energy - www.CheersandGears.com

 

Michigan Blocks Tesla Sales in State, Yet State Invests in Tesla

 

According to the Detroit News, the state of Michigan who two years ago signed into law forcing any company that wants to sell auto's in state must have a franchise to do it, seems to not want to support their own thinking.

 

Detroit News - "Michigan Retirement Fund Boost Stake in Tesla Stock"

 

Seems Michigan just paid $48 million increasing it's stake in Tesla to a state retirement fund holding of 339,623 shares worth $72 million according to the SEC required filing. This represents a .12% of the state $60 Billion retirement fund.

 

What is interesting is this is their second largest holding of auto stocks. First is Delphi Automotive at $94 million, then Tesla at $72 million, Ford at $17 million and GM at $13.7 million. State of michigan owns no stock in FCA.

 

Interesting part of the story is that Tesla has applied for a state license for a dealership. State rep Aaron Miller has introduced legislation that would allow dealerships to be owned by manufactures. Seems a bit contradictory to say the least.

 

Read the full posting at the Detroit News.

Link to comment
Share on other sites

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing


×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search

Change privacy settings