Trump Administration to Launch Voluntary AI Standards for Frontier Models 
SoftBank’s LY Corp, Bain Raise Kakaku.com Bid to ¥670 Billion, Intensifying Takeover Battle 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
Michael Burry Shorts Tesla at $416 as AI and Semiconductor Bearish Bets Expand 
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul 
Texas Man Charged After Fatal Tesla Full Self-Driving Crash in Katy 
Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google 
Nike Q4 Earnings Beat Estimates as Wholesale Growth Offsets Direct Sales Weakness 
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan 
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
Anthropic Restores Claude Fable 5 and Mythos 5 After U.S. Lifts AI Export Controls 
South32 Sells Major Aluminium Assets to Alcoa in Deal Worth Up to $5.6 Billion 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Tesla Inc. is set to deliver the first model of its Cybertruck to customers this month and before the release, the company issued a warning. Elon Musk’s electric vehicle manufacturing company said it will sue buyers for $50,000 if they try to resell the truck within the first year of purchase.
What the Contract Says
This demand is said to be included in Tesla's terms and conditions for customers. The company added the stipulation under a new section called "For Cybertruck Only" in its Motor Vehicle Order Agreement contract, as per Business Insider.
"You agree that you will not sell or otherwise attempt to sell the Vehicle within the first year following your Vehicle's delivery date," the added rule for Tesla’s Cybertruck reads. "Tesla may seek injunctive relief to prevent the transfer of title of the Vehicle or demand liquidated damages from you in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater.”
Aside from the monetary damages, Tesla said that in the future, it will no longer sell any vehicles to customers who will resell.
Exception from the New Rule
Tesla indicated that it may allow the reselling of the Cybertruck provided that the customer has a good reason for it. Then again, it will be a buyback deal where the company will buy it from the customers at the original price.
However, for every mile driven, Tesla will subtract $0.25 per mile from the amount. If there are signs of wear and tear, the cost of repairs based on the company’s Used Vehicle Cosmetic and Mechanical Standards, will also be deducted from the buyback price. In case Tesla is not interested in buying the Cybertruck, the company may agree for the owner to sell it to others.
Meanwhile, as mentioned on Mashable Southeast Asia, Tesla added a new rule to make sure that its Cybertruck models will only belong to those who originally purchased them. If one wants to resell, they clearly have to wait for a year before they can do so.
Photo by: Alexander Shatov/Unsplash
