Over 200 Canadian car dealers are facing financial losses after Tesla claimed massive rebates just before the government ended a subsidy program for electric vehicles. The iZEV program, which started in 2019, provided rebates to encourage EV sales. With sudden political changes and an influx of rebate claims from Tesla dealerships, many dealers are now out millions. The suspicious volume of sales prompted accusations of system manipulation, though it remains unclear if any laws were broken in the process.
Tesla had a run on the bank. Somehow, Tesla gamed the system. What we can't figure out is how this could have happened without setting off alarm bells.
The Incentives for Zero-Emission Vehicles program offered rebates to EV buyers, but it ran out of money unexpectedly, leading to significant losses for dealers.
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