USA regulators demand Tesla hand over information amid investigation into production forecasts

USA regulators demand Tesla hand over information amid investigation into production forecasts

Last month, the electric auto maker announced a version of "Model 3" with a new "mid-range" battery pack for $45,000 before incentives.

It's the first time Tesla has formally disclosed the SEC subpoena in a regulatory filing, but there have been widespread news reports about its investigation into production forecasts.

Tesla Inc. said on Friday that it is developing plans to start producing about 3,000 Model 3 vehicles per week in Shanghai in the initial phase of its Gigafactory 3 to reduce the impact of tariffs.

'Just an over-the-air software upgrade, so will work on all cars made in past 2 years (Autopilot hardware V2+)'.

More news: Oprah Wore a Blake Lively-Approved Velvet Suit While Campaigning in Georgia

US securities investigators have subpoenaed information from Tesla about production forecasts for the Model 3 electric vehicle that were made past year, the company acknowledged in a regulatory filing Friday. "As is our normal practice, we have been cooperating and will continue to cooperate with government authorities". A growing number of photos - including aerial shots - have been posted on Twitter showing cars with mis-matching or missing panels parked around its factory in Fremont.

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".

He frequently compared Apple products to that of Tesla's stating, "there's not many products you can buy that really make you happier".

Listen to Elon's entire interview with Recode Decode here. Musk and Tesla agreed to pay a combined $40 million without acknowledging or denying wrongdoing.

Related Articles