Tesla

Tesla builds 1st store on tribal land to dodge New Mexico car law

NAMBÉ, N.M. – Carmaker Tesla has opened a store and repair shop on Native American land for the first time, marking a new approach to its yearslong fight to sell cars directly to consumers and cut car dealerships out of the process.

The white-walled, silver-lettered Tesla store, which opened last week, sits in Nambé Pueblo, north of Santa Fe, on tribal land that’s not subject to state laws.

The electric car company can only sell and service its vehicles freely in about a dozen states, while it faces restrictions in others. Some, like New Mexico, ban Tesla from offering sales or repairs without going through a dealership. In January, the company struck a deal with Michigan to resolve a 2016 lawsuit, a symbolic victory that allowed it to sell in the backyard of the nation’s largest carmakers.

Supporters of Tesla say the shop in New Mexico marks the first time

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Tesla Stock Is Up Despite a Bad Review. Thank China.

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A Tesla Model S Plaid.


Courtesy Tesla

Stock in the electric-vehicle pioneer

Tesla

is rising despite a terrible review for the company’s new Model S Plaid edition. The company’s Chinese production numbers in August appear to matter more than criticism of Tesla’s $130,000 muscle car.

Tesla (ticker: TSLA) stock was up about 0.7% in premarket trading, while futures on the

S&P 500

and

Dow Jones Industrial Average

futures were both down a little. The move in Tesla stock is small, for now, because the good news and the bad news offset each other. Neither issue seems important enough to change the minds of Tesla investors.

First, the bad news. Automotive data provider Edmunds reviewed Tesla’s Model S Plaid edition, which is billed as the fastest car ever produced in volume on an assembly line. In optimal conditions, it can accelerate from zero to 60 miles an hour

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Tesla finally made a profit without the help of emission credits

Tesla sold enough cars and energy products to turn a profit even without counting the sale of emissions credits to other automakers — a milestone for the company. This was the eighth profitable quarter in a row for Tesla, but the first where it can truly say it’s a profitable automaker.

Tesla shared Monday that it logged a $1.1 billion profit in the second quarter of 2021, with $354 million of that coming from credit sales. The rest came from automotive sales, as well as a boost in energy storage sales.

Tesla pulled this off despite taking a loss of $23 million on its big Bitcoin bet (something that had helped it to a profit last quarter), a delayed rollout of the revamped Model S sedan and Model X SUV, and the global semiconductor shortage. All told, Tesla generated $11.9 billion in revenue in the quarter.

The Model

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Tesla might be opening a showroom and service center in Mishawaka

With an undisclosed “high-end” electric car maker looking to open a showroom and service center in Mishawaka, some nearby residents think all the signs point to one company: Tesla.

The Mishawaka Plan Commission voted 4-3 this week in favor of a proposal by a Chicago-based developer to convert the former JC Penney Home Store, at Grape and Cleveland roads, into a 36,000-square-foot automotive facility.

Chris Sotos, a representative of Key Development Partners, told the commission his company has a contract to buy the site from its local owner and lease it to the auto company.

Sotos did not name the prospective tenant but described it as a “high-end electric automobile, solar power and renewable energy” company.

A rendering of a proposed electric car showroom and service center planned for Mishawaka.

When The Tribune asked whether that tenant would be Tesla, Mishawaka City Planner Ken Prince said the developer had not disclosed that information to the city.

But some aspects of the plan are consistent

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