Shares of Tesla were six percent higher Wednesday after the automaker appealed a New Jersey rule that bans the automaker from selling its vehicles directly to consumers in the state.
Tesla hopes to overturn the Motor Vehicle Commission’s March 11 decision to enforce the ban with the appeal, filed in New Jersey Superior Court last week.
Tesla must stop selling cars directly to customers April 15 because of the commission’s decision. It’s been selling cars in two New Jersey locations for about 18 months.
Two pieces of legislation may keep Tesla’s lights on – one proposal would allow direct sales of “zero-emmission vehicles, and the other would permanently exempt electric car makers from dealership laws.
The New York automobile Dealers Association reached a deal that allows Tesla to directly sell cars in New York and its surrounding suburbs just last week.
Source: CNN Money
