> No, that is not a typo. $2.9 billion to roughly $7,400.
Ooft. That’s one hell of a write down. Imagine the person that had to do the calculation and report it back.
As in they literally expect to build one more Cybertruck battery and that's it. I'm guessing the excess stock in the Tesla factories covers spares for a few years already.
I wonder when the cancellation will be announced by Tesla? It's all but leaked at this point.
A '99% write down' is such an uncommon term that many people might not register it.
Tax reasons? Keep it on the book and write the loss off against other profit over coming years? No clue how it would work in practice but it sounds taxy.