FBI conducting criminal investigation into Tesla, report says

Ann Santiago
October 28, 2018

At the same time, Model 3 deliveries to Europe would begin in late February or March next year, while deliveries to China - during Q2.

Tesla is facing a criminal investigation into whether the electric car-marker misled investors by overstating production forecasts for its Model Three Sedan. About this on their pages, writes the news Agency AP, reports to our website.

Model 3 is a key part of Tesla's plan to expand from a niche player in the segment of luxury to the automaker with a wider range of consumers.

In early 2017, the California-based company announced plans to produce up to 5,000 Model 3s a week by the end of that year. One of the reasons it will have only one visual display is to make manufacturing easier and further reduce the amount of wiring used in the vehicle. The company this week reported third-quarter earnings of of $417 million on revenue of $6.8 billion.

Tesla officials claim they have been nothing but up front about Model 3 production - and the delays.

Tesla delivered a total of 27,710 Model S and X vehicles to customers, but the Company said demand still remained a challenge due to a 40% import duty on the vehicles.

"Model 3 is attracting customers of both premium and non-premium brands, making it a truly mainstream product", Musk said, adding that the company's "earnings profile has flipped dramatically". It's very likely that these two cars will be Model 3 and Model Y. After all, Musk said during the conference call with investors that the goal was to get Model 3 production up and running by the end of 2019.

Central to Wood's argument that Tesla could trade as high as $4,000 per share is the idea that Tesla will orient itself away from the capital-intensive vehicle manufacturing business toward software. Bloomberg ran a titled "Tesla Doesn't Burn Fuel, It Burns Cash"-complete with a graphic of Musk throwing dollar bills into a pair of Boring Company flamethrowers". Tesla is in no danger of going bankrupt.

Tesla is now generating cash, not consuming it and has largely managed to silence critics for the time being.

Tesla's mass-market electric auto - will commence United Kingdom deliveries in mid-2019, confirms CEO Elon Musk.

Bears who bet against the company celebrated, until noted short-seller Citron Research on Tuesday reversed course, saying it believed the Model 3 was a "proven hit".

Musk, 47, made earlier predictions related to the Model 3 that were even more outlandish than the ones he gave a year ago.

Tesla has yet to develop full self-driving software, as it races other major companies investing in the technology, including Apple, Amazon, General Motor's Cruise, Intel's Mobileye, and Alphabet's Waymo (just to name a few).

In 2020, we can expect a new Tesla crossover according to Elon Musk himself.

In this week's earnings call, Musk confirmed that "we've made significant progress on the Model Y", and he has approved the prototype.

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