The fans of Tesla Motors, Inc (NASDAQ:TSLA) drove their electric cars to the Capitol of Washington State and voiced their opposition to the proposed bill intended to prevent the company from expanding its stores and service centers.
Tesla Motors Inc (NASDAQ:TSLA) is currently operating two stores and service centers in Seattle and Bellevue, Washington.
Under the proposed legislation (House Bill 2524 and Senate Bill 6272), the Department of Licensing in the state of Washington cannot issue additional licenses for Tesla Motors Inc (NASDAQ:TSLA) to open and operate new stores and service centers because its status is manufacturer and not as a dealer. The company is selling its electric cars to consumers.
Daniel Witt, lobbyist for Tesla Motors Inc (NASDAQ:TSLA) said and its fans want lawmakers to remove the provision in proposed bill that stipulates that the electric car manufacturer will no longer be able to obtain licenses to expand the number of its stores in the state. “We’re eager to see this language out of the bill,” said Witt.
Bill Hotchkiss and his wife drove their Model S vehicle to join other fans to express their support for Tesla Motors Inc (NASDAQ:TSLA). The couple said they purchased their electric car from the company in April 2013, and their experience was seamless.
They emphasized that driving their car from Vancouver, Washington to Olympia cost them nothing, which is partly the reason for joining the protest. “It cost us nothing to get here,” according to the couple. The Model S has the ability to drive as far as 256 miles in a single battery charge.
The lawmakers in Washington State are working to amend the proposed bill to reduce its impact on Tesla Motors Inc (NASDAQ:TSLA). Republican Sen. Mike Hewitt, the sponsor of the bill said he is open for an amendment to ensure that the electric car manufacturer will be able to keep its existing facilities in the state. According to Hewitt, he proposed the bill because he is “trying to help keep dealerships alive,” in the state of Washington.
Democratic Cong. Reuven Carlyle and two other lawmakers in the lower chamber introduced an amendment to House Bill 2524 that would enable Tesla Motors Inc (NASDAQ:TSLA) and other car manufacturers to continue its expansion in the state.Cong Carlyle said, “The purpose of our amendment is to withdraw any prohibition on Tesla to conduct sales.” Tesla Motors Inc (NASDAQ:TSLA) faces similar legal problems in several states including Ohio and North Carolina.
Tesla Motors Inc (NASDAQ:TSLA) is scheduled to report its fourth quarter and full year 2013 financial results on Wednesday, February 19 at 5:30 P.M. EST. Investors considering to invest in the stock might be interested in checking its risk level at Smartstops.net, a stock market risk management service provider. It shows that Tesla’s risk level is normal.