Upstart electric vehicle maker Tesla is reportedly threatening to sue would-be profiteers looking to make a quick buck off its highly anticipated Cybertruck.With first deliveries expected by the end of the month, Tesla on Monday amended its sales agreement with potential buyers to include a paragraph prohibiting the resale of the electric pickup truck for at least one year after taking delivery or face unspecified ‘consequences’ without a right of first refusal.In that regard, it reserved the right under unspecified circumstances to “demand liquidated damages from in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater.” .It also warned it may move to block any apprehended resellers from purchasing any future vehicles from the company.By Tuesday it had removed the controversial clause under pressure from investors and reservation holders who have been waiting for the much touted truck since it was first introduced in 2019.Tesla reportedly has more than one million pre-sales of the bulletproof concept vehicle but is struggling to build its Austin, TX factory up to capacity of 250,000 units by 2025. In the interim, the company is worried that speculators will look to cash in on the vehicle’s notoriety at Elon Musk’s expense..Such agreements aren’t common for mass produced vehicles, but they have been used on limited production exotics. In 2017 Ford sued actor and pro wrestler John Cena for selling his handmade Ford GT less than a month after taking delivery and netting “a large profit.”That case was settled out of court for undisclosed terms although similar ‘authorized’ GTs sold at auction for more than USD$1.8 million. Ford reportedly donated the proceeds to charity.Whatever the final number was in that case, it was certainly well above the Cybertruck’s $39,900 asking price. Images of the radically-styled EV have begun appearing on social media but the first official deliveries aren’t expected until November 30. Production was initially supposed to begin in 2021, but was delayed by the pandemic and design changes, including longer range batteries.In September of last year Musk posted on Twitter (“X”) the Cybertruck “will be waterproof enough to serve briefly as a boat so it can cross rivers, lakes and seas that aren’t too choppy.”
Upstart electric vehicle maker Tesla is reportedly threatening to sue would-be profiteers looking to make a quick buck off its highly anticipated Cybertruck.With first deliveries expected by the end of the month, Tesla on Monday amended its sales agreement with potential buyers to include a paragraph prohibiting the resale of the electric pickup truck for at least one year after taking delivery or face unspecified ‘consequences’ without a right of first refusal.In that regard, it reserved the right under unspecified circumstances to “demand liquidated damages from in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater.” .It also warned it may move to block any apprehended resellers from purchasing any future vehicles from the company.By Tuesday it had removed the controversial clause under pressure from investors and reservation holders who have been waiting for the much touted truck since it was first introduced in 2019.Tesla reportedly has more than one million pre-sales of the bulletproof concept vehicle but is struggling to build its Austin, TX factory up to capacity of 250,000 units by 2025. In the interim, the company is worried that speculators will look to cash in on the vehicle’s notoriety at Elon Musk’s expense..Such agreements aren’t common for mass produced vehicles, but they have been used on limited production exotics. In 2017 Ford sued actor and pro wrestler John Cena for selling his handmade Ford GT less than a month after taking delivery and netting “a large profit.”That case was settled out of court for undisclosed terms although similar ‘authorized’ GTs sold at auction for more than USD$1.8 million. Ford reportedly donated the proceeds to charity.Whatever the final number was in that case, it was certainly well above the Cybertruck’s $39,900 asking price. Images of the radically-styled EV have begun appearing on social media but the first official deliveries aren’t expected until November 30. Production was initially supposed to begin in 2021, but was delayed by the pandemic and design changes, including longer range batteries.In September of last year Musk posted on Twitter (“X”) the Cybertruck “will be waterproof enough to serve briefly as a boat so it can cross rivers, lakes and seas that aren’t too choppy.”
