- "The SEC has issued subpoenas to Tesla in connection with (a) Mr. Musk’s prior statement that he was considering taking Tesla private and (b) certain projections that we made for Model 3 production rates during 2017 and other public statements relating to Model 3 production," Tesla said in the filing.
- "
ADVERTISEMENT
Tesla says the SEC has investigated the company's claims about Model 3 production (TSLA)
Tesla said in a regulatory filing that the SEC has subpoenaed the automaker about comments it made in 2017 about Model 3 production.
Tesla said in a regulatory filing released on Friday that the Securities and Exchange Commission (SEC) has subpoenaed the automaker about comments it made in 2017 about the production of the Model 3 sedan.
"
TheJournalreported in October 2017 that when Model 3 production began in July 2017, the body shop at Tesla's Fremont, California, factory wasn't completely functional. It reportedly was not fully installed until September 2017.
ADVERTISEMENT
Teslahit a long-delayed goalof making 5,000 Model 3s in one week at the end of June 2018, and, in October, Tesla said it produced 53,239 Model 3s during the third quarter after projecting it would make between 50,000 and 55,000. The automaker made 5,300 Model 3s during the final week of the third quarter, less than theweekly goalof 6,000 it had set for the end of August.
Muskacknowledgedin April that Tesla had attempted to automate too many production tasks at the Fremont factory and would use more human workers in the assembly process.
The DOJ waspreviously reportedto be investigating comments Musk made on Twitter in August about potentially taking Tesla private. Those comments led to a lawsuit from the SEC that was settled in September. Under theterms of the settlement, Musk must step down as the chairman of Tesla's board of directors for three years and pay a $20 million fine.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Next story
ADVERTISEMENT