Elon Musk has plans to create a new auto

Christopher Davidson
November 6, 2018

Now, the titular automaker is once again facing a flurry of controversies after being investigated for "misleading" production figures. Regulators are looking at whether Tesla misled investors about its business.

The filing adds that Tesla is cooperating with a Justice Department request for information about Model 3 forecasts. "This is critical to make pricing as affordable as possible", Musk wrote on Twitter.

SpaceX founder and CEO Elon Musk predicted the Roadster would overshoot these estimates, and keep driving on until the asteroid belt.

The extra publicity for his other company, Tesla, didn't hurt either.

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Its model 3 is the most affordable vehicle and is also the highest selling. Apparently, the company made only just 2425 in the entire fourth quarter. "As is our normal practice, we have been cooperating and will continue to cooperate with government authorities".

Following the launch of the Model 3 a year ago, Tesla repeatedly missed aggressive production targets for the new vehicle, blaming "manufacturing bottlenecks".

Musk envisions a transportation system in which vehicles or people pods are moved through tunnels on electrically powered platforms called skates. It didn't hit the 5,000-a-week target until June 2018.

This expanding aggressive SEC probe could set up a new hurdle for a company that last month said it had finally resurfaced into profitability, thanks to rising sales of the M-3. In such a situation, entering India to compete against Indian players like TATA, Hero MotoCorp.etc, along with global players way ahead in the game, could prove to be a challenge for Tesla. "Of course, she now makes handsome products, but they are less significant", - said the billionaire.

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