Elon Musk Announces Tesla’s Partial Presence in India in 2019

07 November, 2018, 20:45 | Author: Kelly Sanders
  • Elon Musk says Tesla’s looking to establish a ‘partial presence’ in India by 2019

Tesla founder Elon Musk has opened up about more details about the EV company's upcoming plans for the future, including the highly anticipated Tesla pickup (which in Australia we call a ute), the Tesla electric semi and the next gen Roadster.

The company also said on Friday that 44 per cent of its third-quarter net profit was from previously undisclosed regulatory credits. Taking into account the cost of transoceanic transportation and import tariffs, Tesla now spends 55-60% more operating costs than it does to produce the same auto in China.

SpaceX CEO Elon Musk said that the reason for putting Starman into space was that it was more fun than the typical payload dummy that space companies use to test their rockets.

However, in August a court dismissed a civil shareholder lawsuit on the issue of Model 3 production targets, saying Tesla properly informed investors that the projections could be disrupted by various factors.

The filing adds that Tesla is cooperating with a Justice Department request for information about Model 3 forecasts.


Tesla said to its knowledge no government agency in any ongoing investigation has concluded any wrongdoing occurred.

In September, Tesla settled a civil lawsuit by the SEC over tweets by Musk that funding was in place to take the company private.

The company agreed as part of the SEC settlement to closely monitor Mr. Musk's social-media commentary.

India lost a good deal previous year when Tesla agreed to build its first factory outside the United States in Shanghai, China, despite the fact that the company had been exploring the possibilities of setting up a plant in India for months. The company said it produced about 4,300 Model 3s a week, excluding planned shutdowns, and 5,300 in the final week of the quarter.

Tesla is already facing a proposed class-action shareholder lawsuit claiming that the company and top executives made false statements about the readiness of the Model 3 for volume production. I as before I believe that the company creates handsome phones.

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