Tesla’s leader, Elon Musk, announced that the car manufacturer will discontinue both the Model S and X by halting production and redirecting its emphasis to the Optimus humanoid robots. The Tesla Model S ranks among the most potent electric vehicles available, boasting 1,020 horsepower in its premium trim, whereas the Model X is favored for its seamless ride and cutting-edge features.
Ceasing production of these two electric vehicles marks a significant milestone for both the organization and its supporters, as the Model S and X have been manufactured for more than ten years. Consequently, it is only fitting that Tesla intends to conclude this chapter in a grand manner by crafting a limited number of farewell Signature Edition models of the Model S and X. However, if you were considering acquiring the Signature Edition of either vehicle to resell it almost immediately for a quick gain, you might find yourself in a predicament with the company.
Electrek has reported that Tesla requires purchasers of the Signature Edition Model S and X to sign a “No Resale Agreement” that bars them from reselling the vehicle within the first year of ownership. The agreement stipulates a penalty of either $50,000 in liquidated damages or the car’s entire resale value, depending on which amount is more significant. Furthermore, Tesla may also decline to sell you its vehicles in the future if you violate the agreement. The “No Resale Agreement” exists because Tesla aims to prevent individuals from acquiring the models with the intention of flipping them.