The State of Michigan may have a ban on direct sales of Tesla vehicles, but the Michigan Department of Treasury has 339,623 shares worth $72 million invested for state retirement funds in Tesla Motors Inc. stock, according to a published report.

The Detroit News reported today that the state Treasury increased its shares in the electric automaker by 224 percent in the second quarter, buying about $48 million worth of shares.

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Hypocritical? State Of Michigan Maintains Ban Of Tesla Sales, But Has No Problem Owning Stock In The Company

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