CAEATFA Approves 48% Of Record Tesla Model 3 STE Request

Since 2009, the California Alternative Energy And Advanced Transportation Financing Authority (CAEATFA) has handed out more than $100 million in sales tax exemption (STE) tax relief to Tesla Motors, the main beneficiary of the state government program.  Tesla’s latest application, which requested about $100 million in STE on the purchase of more than a billion dollars worth of equipment that the automaker will use to develop and build its Model 3 sedan [previous coverage here], was by far the biggest application in the program’s history and comes as the program faces record demand for tax relief. As a result of this high demand and Tesla’s historical domination of the program, CAEATFA approved just 48% of Tesla’s massive Model 3 request at its December 13 meeting, leaving more than half of its latest request unfunded.

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General Motors Ushers Australia Into The Post-Industrial Age

You just keep me Holden on...

You just keep me Holden on…

Amidst the copious news General Motors has made over the last week, one fully-formed and profoundly important story is doggedly evading the notice of the press. Overshadowed by the end of US Treasury ownership and the promotion of GM’s first female CEO, the demise of The General’s Australian unit Holden should not be overlooked. Not because the phenomenon it demonstrates is new… in fact it’s nothing more than the latest example of the GM standard operating procedure that has helped devastate local governments across America. Rather, the tragic turn of events in Australia sends a sharp warning, every bit as poignant as the recent bankruptcy of Detroit, to the American taxpayers about the company they rescued.

The Government Motors endgame is only just beginning…

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