Tesla Employees Asked to Help the Company Deliver Cars Yet Again

25 March, 2019, 04:10 | Author: Regina Silva
  • Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai China

The electric sports utility vehicle promises to be Tesla's much-awaited crossover, which will face stiff competition from European auto makers who will also soon be rolling out their own electric vehicles (EVs).

The SEC asked Tesla in late February whether any of Musk's tweets had been pre-approved since that policy was adopted, according to the filing in federal court in Manhattan.

Tesla CEO Elon Musk recently revealed the Model Y SUV in California.

Meanwhile, a message from Tesla's official Twitter account on Tuesday said that due to trouble processing an unusually high volume of online orders, a planned slight increase in prices of some models was postponed a day.

On Monday, lawyers of Tesla told reporters that after the dispute settlement with Tesla Mr. Musk have drastically reduced his tweets regarding proceedings of the company. Mr. Latham further said that SEC might try to find one case against Mr. Musk after other.

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Alongside this revelation, Business Insider also claims to have spoken with an anonymous Tesla employee who drove a customer's vehicle for three hours to ensure it was delivered on time, before taking a company-paid Uber trip back.

The SEC said in Monday's filing that the pre-approval policy agreed in the settlement was created to include a wide variety of his comments, not just those that were deemed material by the regulator's standards. Under Tesla's policy, Butswinkas was one of the lawyers who was supposed to review material tweets from Musk before they were posted, but Musk never submitted any tweets for his approval. He argued, in part, that relisting Tesla's shares in Germany could be favorable to Musk because "he can have regulatory carte blanche, and can tweet anything he wants with no retribution - no matter how fraudulent".

Block, who owns a small put position on Tesla, said the SEC has held Musk "partially" accountable.

Tesla has gone through multiple layoffs over the past few months and is planning to close some of its retail stores. Back in June 2018 in a press meeting, Elon Musk had stated that the company would deliver Model Y to the customer within June 2020. In that interview, the CEO of Tesla had said that he doesn't respect SEC at all.

Earlier in the week, Musk the Securities and Exchange Commission on Twitter after the agency asked a judge to for violating a settlement deal.


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