SEC subpoenas Tesla on Model 3 production estimates

Tesla Roadster 1:64 Hot Wheels car

Tesla Roadster 1:64 Hot Wheels car

An upgrade to Tesla Inc's "Summon" auto-parking feature will be ready within six weeks and will allow its vehicles to drive around a parking lot.

The remarkable footage from Madison, Wisconsin, has gone viral, helped by Tesla chief executive Elon Musk himself commenting on it.

"I think we could execute better if we were private", he said, saying that short-sellers who bet on a decline in the price of the stock do damage to the Tesla brand because the stock is public. The company ultimately made only just 2,425 in the entire fourth quarter.

The SEC fined Tesla $20 million for the claim and fined Musk $20 million and ordered him to remove himself as Chairman of the company for three years.

"As is our normal practice, we have been cooperating and will continue to cooperate with government authorities".

Elon Musk announced on Twitter that Tesla cars will soon be receiving a "Summon" feature through an over-the-air update. Tesla's SEC filing said that an enforcement action from either agency could damage its business, cash flow and future prospects.




Tesla finally met that target in June of this year.

Prof 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. And (they) still make great products, but there's less of that".

"Yeah, I mean, that sounds pretty bad", Musk said of Khashoggi's killing to Recode.

Musk then predicted that Apple's next iPhone, which he called the "iPhone 11", might not draw as much consumer attention - at least compared with Tesla's famous 450,000-long Model 3 waiting list.

The eccentric CEO also said that he's been mulling a "supersonic vertical-takeoff-and-landing electric jet" for the past nine years, and eliminated the possibility of Tesla's building a motorcycle because of the chance for injury.

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