Friday, 16 November, 2018

Tesla coming to India in 2019, says Elon Musk

Air Force Secretary Heather Wilson testifies during a Senate Judiciary Committee hearing on Capitol Hill in Washington Wednesday Dec. 6 2017 Trump Reportedly Mulls Ousting Air Force Chief Over Space Force Memo
Cary Marshall | 06 November, 2018, 14:00

United States regulators have issued subpoenas to Tesla for information on projections made by chief executive Elon Musk past year in relation to production of its Model 3 electric vehicle, the company and Musk have disclosed in a regulatory filing. Messages were left Friday seeking comment from the SEC and the Justice Department.

He also compared Apple with his company Tesla.

The notice, tucked inside a 141-page quarterly report Tesla filed with the Securities and Exchange Commission on Friday, confirms that the SEC has issued subpoenas as part of a deepening probe into the company's manufacturing projections for its Model 3 sedan past year.

The user had asked if Panasonic "will also be a partner of the China giga battery production", to which Musk said that Tesla plans to source cell production locally "most likely from several companies", including Panasonic.

Elon Musk has yet again hinted that Tesla could soon make its Indian debut.

In a conversation Elon Musk said that the vehicle is his own, and a successful sale it is absolutely not interested.

More news: Has Theresa May secured a breakthrough to seal a Brexit deal?

"I don't think people will run to the store for iPhone 11".

Musk said a space force would be necessary for "defense in space" and that it "could be pretty helpful for maybe expanding our civilization".

In its statement, Tesla said the DOJ has asked it "to voluntarily provide (the DOJ) with information" about the Federal Bureau of Investigation and the DOJ's probes.

The disclosure in Tesla's quarterly financial report also says the Securities and Exchange Commission subpoena covered other public statements made about Model 3 production. The investors involved have since filed an amended complaint.

Tesla Inc. says in the filing that to its knowledge, no government agency in an ongoing investigation has determined that it did anything wrong.

One of the world's largest electric auto makers, Tesla Motors, is set to arrive in India next year, claimed a report in Carwale.com on Monday. It did not say at the time that it had gained another $137 million in regulatory credits, which contributed to almost half of the profit.

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