German subsidy decision a spot of good news in a bad week for Tesla
Frankfurt — A German government agency has agreed to offer car buyers subsidies for Tesla vehicles again, ending a dispute with the US company over whether the Model S was too expensive to qualify for the scheme. This is a piece of good news for the car maker, whose shares have been battered this week by federal probes of a fatal crash involving one of its cars, a Moody’s downgrade and concern about Model 3 production. Tesla shares tumbled 9% on Wednesday before ending down 7.7% at $257.78. On Tuesday, Tesla tumbled 8.2% to its lowest close in almost a year after the US National Transportation Safety Board opened a field investigation into a fatal crash and vehicle fire in California on March 23. On Wednesday, a second federal regulator, the National Highway Transportation Safety Administration, said it was sending a team to California to investigate the crash. Late on Tuesday, Moody’s Investors Service downgraded Tesla’s credit rating to B3 from B2, citing "the significant shortfal...
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