"A year ago, Chief Executive Officer Elon Musk was greeted by rapturous crowds in Beijing and Shanghai as he handed over the keys to Tesla sedans. Now he’s back in China, and this time he’s on the defensive, trying to explain why sales have softened after starting so briskly. In an interview with state media, Musk, 43, made a startling admission: there’s a backlog of unsold Teslas around the country because people he dubbed speculators ordered cars and never bought them."
"Tesla had been "misled" by Chinese speculators into believing that demand for their vehicles was 'extremely high', leading to an excess of inventory, Musk said during a visit to China, where he attended the Boao Forum in Hainan province. Many orders were not placed by genuine buyers, but resellers who cancelled when the cars arrived, the official news agency Xinhua reported, quoting Musk. 'China is the only place on earth where we have excess inventory. We are essentially selling cars that speculators ordered but we were unable to deliver,' he said."
"Musk acknowledged Tesla had a rough start in China last year. But he also emphasized that the company, founded in 2003, is still in its infancy, despite wide-spread perception that 'Tesla is huge'. Meanwhile, he said speculators and scalpers misled the company to believe that the demand for the cars was 'extremely high' during the launch. But when the cars arrived, the speculators canceled their orders, leading to excessive inventory. 'China is the only place on Earth that we have excess inventory. We are essentially selling cars that speculators ordered but we are not able to take delivery on,' the CEO said."
"Gaines' proposal to curb California rebates shows his disappointment that Palo Alto-based Tesla chose Nevada rather than his district as the site for a $5 billion battery factory, said Diarmuid O'Connell, the company's vice president of business development. 'Punishing Tesla, a company that has created over 8,000 direct jobs in California in the past five years and thousands more indirect jobs by eliminating a modest rebate for its products while preserving that credit for companies like Toyota and Nissan -- companies that have abandoned California for Texas and Tennessee respectively -- seems like a curious response unless viewed through the lens of ignorance and retribution,' O'Connell said in an emailed statement."
"0-60 mph in 2.8s is amazing. Sure'd be great if Model S could get there. Maybe it can."
"The new system automatically detects 'the presence of a meter maid or law enforcement officers' and deploys 'counter-measures' to deter the ticket writer – from activating the windshield wipers to autonomously driving around the block under the 'threat' has subsided."