WASHINGTON, Nov 2 ― Tesla Inc said today it received a subpoena from the US Securities and Exchange Commission regarding certain projections the electric auto maker made for Model 3 production rates during 2017.
In 2018, Tesla struggled to maintain a level rate of production and fulfill incoming orders. The company made only just 2425 in the entire fourth quarter. 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.
The company said no government agency in ongoing investigations has concluded that any wrongdoing occurred. The company did not respond to a request for comment.
Tesla has weathered a rocky few months in the wake of Musk's tweets that he had "funding secured" for a deal, later scuttled, to take Tesla private.
Tesla has until the end of November to add two independent directors to its board, as per a $40 million settlement with the Securities and Exchange Commission. The next update to Summon feature will make Tesla cars capable of driving around a parking lot, find an empty spot, and read signs to confirm if the parking spot is valid and empty. 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. "Model 3" has been available for over a year now with the "Long-Range" battery pack version for 310 miles of range. The original complaint was dismissed but was refiled in September.
Although he didn't smoke weed this time, he did blow some figurative smoke at Apple, Tesla's Silicon Valley neighbour and a company that Tesla is frequently compared to, even if their financial situations are worlds apart.