Big Oil Scrambles To Cut Tesla’s Lifeline
The oil industry hates electric cars for good reasons. Intelligent executives in the industry (of which there seem few) see electric vehicles (EVs) as a death threat to their business. Thus, they have fought aggressively to end tax credits that encourage consumers to buy EVs. To a large extent, their lobbyists have succeeded. However, EV manufacturers have now been given a regulatory lifeline. Last week, Financial Times reported that Fiat Chrysler Automobiles (FCA) has agreed to pay Tesla hundreds of millions. The payment will allow FCA to pool…