Elon Musk Hints At 'Partial Presence' Of Tesla In India By 2019

03 November, 2018, 20:59 | Author: Eric Barnett
  • Firmware					Tesla’s Advanced Summon will be ready in ~6 weeks says Elon Musk

"But I think with Tesla, we really want to make products that people just love, that are heart-stopping".

Last week, investors were cheered by the company's third-quarter net profit, wider margins and positive cash flow, which sent shares climbing. In 2017 and this year, Tesla had trouble producing the cars, drawing a lawsuit from investors who said they were misled by CEO Elon Musk's production targets.

The company originally said in its third-quarter earnings call a year ago that it would reach full production of 5,000 Model 3s per week in the first quarter of 2018. They show what the posters claim are piles of scrapped parts such as sub-frames and plastic panels, built in a rush to hit quarterly production targets.

Today's news follows on from recent reports in the Wall Street Journey that suggested Federal Bureau of Investigation agents were looking into whether or not Tesla misled investors about production of its Model 3 cars. Messages were left Friday seeking comment from the SEC and the Justice Department.


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 rocky Model 3 output and can build the auto at a profit.

"Aside from the settlement with the SEC relating to Mr. Musk's statement that he was considering taking Tesla private, there have not been any developments in these matters that we deem to be material", the company wrote in the filing.

The Elon Musk-led company said in a filing Friday that thus far, no government agency in ongoing investigations has concluded that any wrongdoing occurred. The original complaint was dismissed but was refiled in September.

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