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What you need to know for 01/23/2017

New York governor signs law keeping Tesla sales

New York governor signs law keeping Tesla sales

New York Gov. Andrew Cuomo has signed legislation that lets Tesla Motors keep its five retail locati

New York Gov. Andrew Cuomo has signed legislation that lets Tesla Motors keep its five retail locations in the state while strengthening auto dealer franchise protections.

The governor's office says the measure establishes the deal announced in March among Tesla, the New York State Automobile Dealers Association and the Greater New York Automobile Dealers Association.

Cuomo says the amendments to current law are meant to allow innovation and ensure both groups can thrive.

According to the governor's office, the measure allows additional retail locations for electric carmaker Tesla.

The law also clarifies the general prohibition on manufacturers owning or controlling a retail franchise and sets limits on manufacturer-required renovations by their franchises in New York.

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