Tesla Unveils Exclusive Cybertruck Deal for TSLA Shareholders; Bans Resale Offender

In a groundbreaking move, Tesla opened early Cybertruck deliveries to TSLA shareholders while enforcing strict bans on resale attempts, causing a stir in the EV community.

Exclusive Early Cybertruck Access: Eligibility Criteria and Application Process Unveiled by Tesla

In a report of Teslarati, according to Tesla's official promotion page, TSLA shareholders who want to participate in the early Foundation Series Cybertruck delivery offer must sign up by March 22, 2024, at 11:59 p.m. CT. The program only allows for one Foundation Series Cybertruck reservation per customer.

Customers who want to participate in the early delivery program must meet several eligibility requirements. For example, the Cybertruck reservation must be in the participant's name and must have been made before March 1, 2024. In addition, only shareholders who have yet to deliver their Cybertrucks are eligible for the newly launched program.

Each participant in the early Foundation Series Cybertruck delivery offer must provide brokerage statements demonstrating that they owned TSLA shares on February 28, 2021, and at least 500 TSLA shares on February 29, 2024. The brokerage statements for February 29, 2024, must also show that participants owned at least half of the TSLA shares they held on February 28, 2021.

Finally, Tesla emphasizes that brokerage statements must display the participant's name, statement date, and the number of Tesla shares held. Other information could be redacted to protect privacy.

While Tesla has not disclosed the specific selection process for the early Foundation Series Cybertruck delivery program, TSLA shareholders who meet the initiative's eligibility requirements are strongly encouraged to submit applications by March 22, 2024. Tesla is expected to email participants who meet the program's qualifications.

Enforcement Dilemma: Tesla Blocks Future Orders and Reservations Amid No-Resale Agreement Controversy

Tesla appears to be attempting to enforce its no-resale agreement on the Cybertruck, as one owner claims they have been blocked from purchasing future vehicles from the company.

In recent months, there has been much speculation about whether Tesla can enforce its Cybertruck no-resale agreement. This agreement, a testament to the exclusivity of the Cybertruck, requires early owners to refrain from selling the limited-quantity vehicle within the first year of ownership. Several Tesla Cybertrucks have been listed for sale on the internet, and some have debated whether the no-resale clauses are enforceable.

However, in a post on the Cybertruck Owner's Club forum on Sunday night, owner Malinecentral claims that Tesla emailed them, canceling additional Cybertruck reservations and future orders after the user advertised the vehicle on multiple online sales platforms.

"Moving forward, any future orders placed by you will be cancelled without a refund of the $100 reservation or $250 order fee as official notification has been provided to you regarding this matter," Tesla stated.

Technically, the buyer claims they haven't sold anything despite listing the Cybertruck on multiple sites to "feel it out." The user explained that they took delivery of one Cybertruck and had two more reserved, and Tesla went on to cancel and refund the other reservations.

Legal Conundrum Unveiled: Tesla Threatens Action Over Alleged Cybertruck Resale as VIN Discrepancies Surface

The poster also claims to have found the vehicle through a CarGurus listing, noting that they shared the VIN on the posts and listed it for $242,069. At the time of writing, there are 20 different Cybertruck listings on CarGurus, none of which match Malinecentral's description.

"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," Tesla said. "Tesla may also refuse to sell you any future vehicles."

As early Cybertruck deliveries began in recent months, Tesla, committed to meeting the high demand, increased production at its Gigafactory in Austin, Texas. The automaker expects volume Cybertruck production to take 12 to 18 months after the initial delivery event, which explains the 'limited quantity' mentioned in the no-resale policy.

Photo: Tesla/YouTube Screenshot