U.S. securities regulator subpoenas Tesla on Model 3 production estimates

Elon Musk says Tesla’s looking to establish a ‘partial presence’ in India by 2019

According to CNBC, the Securities and Exchange Commission and Justice Department are investigating the company's Model 3 production projections.

News of the SEC's subpoenas comes a few weeks after Musk settled with the agency on a second investigation into his claims on Twitter that he would take Tesla private.

The construction of a network of tunnels deals with The Boring Company, founded by Elon Musk in 2016.

Investors have been trying to ascertain if the worst is over for the Silicon Valley company amid the fallout from Musk's short-lived plan in August to take the company private, and determine if Tesla has finally stabilized its rocky Model 3 production and can build the auto at a profit. Besides, the company has opened bookings for the Model 3 vehicle in the country. It didn't hit the 5,000-a-week target until June 2018. Musk and Tesla agreed to pay a combined $40 million without acknowledging or denying wrongdoing.

A year ago, a group of shareholders sued the company in federal court alleging that it made false statements about Model 3 production and misled investors.

Читайте также: Chrome 71 to remove persistent abusive ads

The expanding SEC probe could set up a new hurdle for a company that last month said it had finally resurfaced into profitability thanks to booming sales of the Model 3.

The two regulators are investigating whether Musk and the company over-promised about how many of its new Model 3 auto it could make.

A single tweet may have cost Tesla CEO Elon Musk $20 million earlier this year, but that hasn't deterred the visionary founder from tweeting.

Professor David Bailey, an automotive industry expert at Aston University, said: "The pictures suggest big rework and rectification issues with vehicles coming off the production line". Tesla has other models such as Roadster, Model S and Model X are another such examples.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Related:

  • Justin Rose leads after day 2 at Turkish Airlines Open

    Justin Rose leads after day 2 at Turkish Airlines Open

    He started at the 11th with five birdies from his first nine holes, before sinking a long putt on the 10th to end the day.
    NBC says it will stop airing Trump immigrant ad

    NBC says it will stop airing Trump immigrant ad

    His work has also appeared in Salon, Raw Story, Truthdig, National Memo, Philadelphia Weekly, Democratic Underground, L.A. A little while later, the president was asked about the controversy by a reporter. "They certainly are effective".
    UK's PM May odds of Irish border deal

    UK's PM May odds of Irish border deal "50-50"

    He said that an all-UK customs union would not breach the EU's red lines. Under this plan we surrender control to Brussels.
  • Vikings hang 10 sacks on Lions in win

    Vikings hang 10 sacks on Lions in win

    The Vikings tacked on a 39-yard field goal by Dan Bailey with:04 showing on the clock for a 17-6 bulge at the half. Thielen scored two snaps later with a slick corner-post move that left Nevin Lawson in his wake for a 14-6 lead.
    Warren Buffett’s Berkshire Hathaway profit almost  doubles in third quarter

    Warren Buffett’s Berkshire Hathaway profit almost doubles in third quarter

    The firm also repurchased just under $1bn of stock, suggesting Buffet sees a shortage of appealing investment options. A slump in Berkshire shares over the past month raises the question of whether Buffett will buy back more stock.
    Melbourne Cup 2018: Horse dies, breaks down, The CliffsofMoher

    Melbourne Cup 2018: Horse dies, breaks down, The CliffsofMoher

    Cross Counter won the Cup, the Charlie Appleby-trained stayer handing Australian jockey Kerrin McEvoy his third Cup triumph. A horse racing in the annual Melbourne Cup carnival has died for the second year in a row.
  • Rahul quotes Mahatma Gandhi to slam Centre, Maharashtra on tigress Avni’s killing

    Rahul quotes Mahatma Gandhi to slam Centre, Maharashtra on tigress Avni’s killing

    Despite several requests from many stakeholders, S Mungantiwar, Minister for Forests, Maharashtra , gave orders for the killing. A tigress who is believed to have killed more than a dozen people in the last two years has been shot dead in India.
    Harvick Warrants His Shot At NASCAR Cup Title With Victory In Texas

    Harvick Warrants His Shot At NASCAR Cup Title With Victory In Texas

    Harvick also won both stages at the 1 1/2-mile Texas track, the fourth time this season he did that and went on to win the race. The 38-year-old driver was able to overcome that deficit by finishing fifth in the first stage and third in the second stage.
    Baby-faced All Blacks smash Japan 69-31

    Baby-faced All Blacks smash Japan 69-31

    They played good rugby that was a triumph for their instincts and natural talents rather than any clever or detailed coaching. There was a little bit of razzle dazzle and they were physical and if you get it wrong they will hurt you.
  • Five arrested over 'disrespectful' Grenfell Tower model bonfire

    Five arrested over 'disrespectful' Grenfell Tower model bonfire

    London Fire Brigade Commissioner Dany Cotton, who was at the scene of the fatal fire, condemned the "disturbing" clip. In the video, onlookers can be heard saying: "Help me!" They have been taken into custody.
    Brit actor Idris Elba named People's Sexiest Man Alive

    Brit actor Idris Elba named People's Sexiest Man Alive

    Idris - who was in London at the time of filming - told comedy host Fallon: 'my mom is going to be very, very proud '. He's now planning a wedding to model Sabrina Dhowre, 29, who he proposed to in February. 'I was very tall and skinny.
    Diaz double puts City into League Cup quarters

    Diaz double puts City into League Cup quarters

    He needs time to settle, take the pace, the rhythm, everything". "The most important thing is he is in really good hands". De Bruyne attempted to play on, but slumped to the ground moments later and then walked off in the 86th minute.

Comments

Latest news

Intel Announces 48-Core Cascade Lake Xeon CPUs With 12 Memory Channels
Overall, Intel is claiming a 20-percent performance improvement over the current Xeon SPs and 240-percent over AMD's Epyc. Two new processors, Cascade Lake Advanced Performance (AP) and E-2100, are aimed at the enterprise users.

Rafael Nadal withdraws from ATP Finals to undergo ankle surgery
He was dumped out of the French Open as the 20th seed at the quarter-final stage before embarking on a fine run. The 22-year-old beat Djokovic 7-5 6-4 in one hour and 37 minutes to end the Serb's 22-match unbeaten run.

Working ASUS ZenFone 6 Prototype Leaks With Oddly-Positioned Notch
A bunch of leaked photos on an Italian blog site HDBlog .it shows a prototype ASUS smartphone claimed to be the Zenfone 6. It's quite the eyesore to my eyes right now, but that could change once we actually get a look at the phone in-person.

Melbourne Cup: The Cliffsofmoher dies after injury in Australian race
One TAB punter is certain to be rejoicing after placing $50,000 on Cross Counter at $10 following the barrier draw to win $500,000.

This is nothing but personal vendetta: Nihalani blasts CBFC chief Prasoon Joshi
Nihalani stated that the present CBFC chairman, Prasoon Joshi , was biased towards TOH as he is friends with Aamir Khan . Rangeela Raja was set to release on November 16, and there are 20 cuts that the CBFC has proposed for passing the film.

Trump's national attention turns to state races
The Republican president has also been warning the other party will destroy a healthy U.S. economy if they win the keys to power. In the final days, Trump has accelerated his harsh rhetoric on illegal immigration and lobbed apocalyptic attacks on Democrats.

Single mum lost winning ticket after scooping $275 million lottery
West's ticket split the Powerball jackpot in the October 27 drawing with a ticket purchased in New York City. Lerynne West, called her sister to check her auto for the ticket, which was found on the vehicle floor.

Lion Air plane intact, engines running when it hit water
On Oct. 31, a Lion Air spokesman told Bloomberg that pilots had reported an issue calculating airspeed during that Oct. 28 flight. Last Monday's crash is the worst airline disaster to happen in Indonesia since 1997 when 234 people died on a Garuda flight.

Armed forces turn to the foreign legion
The public spending watchdog is carrying out a review of army recruitment, including the contract with outsource firm Capita. He made many recommendations - including attracting more black, Asian and minority ethnic recruits and women.

Whitsundays shark attack victim dies
Interested in Sharks? Add Sharks as an interest to stay up to date on the latest Sharks news, video, and analysis from ABC News. A man has been left critically injured after being attacked by a shark near an island harbour on Australia's Great Barrier reef.

Diablo 4 Announcement Reportedly Pulled From BlizzCon 2018
Diablo Immortal was the only Diablo announcement at BlizzCon , and to put it mildly, many fans have responded negatively. Blizzard has assured fans publicly that it has multiple Diablo games in development.

US Supreme Court ends fight over Obama-era net neutrality rules
Neither Chief Justice John Roberts nor new Trump appointee Brett Kavanaugh participated in the decision. Supporters say net neutrality protects consumers, while opponents say it discourages investment.

It goes viral for THIS hilarious reason
She later tweeted about the incident and wrote, "My cousin's boyfriend proposed to her but she didn't have her nails done lmao". But another image showing behind the scenes has gone viral , proving things aren't quite what they seem.

Teen Charged with Pre-Meditated Murder in Death of Mother
The teen was charged with the murder Saturday morning after police obtained the boy's "full and detailed confession". The boy said he came home from school and saw his mom was missing with her van still running in the driveway.

Apple dips below a $1 trillion valuation
Piecyk said the reporting changes raised questions about whether iPhone sales peaked in 2015, when the company sold 231m handsets. Worldwide sales accounted for 61 percent of the total revenue, while services revenue touched an all-time high of $10 billion.

Other news