Maybe they did this to keep the contract with a symbolic value; or to avoid the headlines that Tesla 'cancelled' the contract?
A '99% write down' is such an uncommon term that many people might not register it.
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.