Ex-Tesla worker makes it official and blows the whistle to SEC

Tesla boss Elon Musk had previously criticized China’s tough auto rules for foreign businesses

Tesla boss Elon Musk had previously criticized China’s tough auto rules for foreign businesses

Musk last month announced that Tesla will lay off 9 per cent of its workforce to show that it can be profitable after being unable to move into the black so far in the 15 years since it was founded. Two to three years after that, Tesla says the annual production capacity will be 500,000 vehicles.

Former Tesla employee Martin Tripp has submitted a tip to the Securities and Exchange Commission accusing Tesla of both misleading investors and allowing potential risky vehicles to be sold to consumers. Investors - those who are long and short Tesla (Nasdaq: TSLA) alike - are eager to know, as the company only had about $3 billion cash on hand through the first quarter of the year.

Former Tesla employee Martin Tripp has filed a whistleblower tip with the Securities and Exchange Commission in which he alleges the company lied about Model 3 production numbers and put unsafe batteries in its cars, The Washington Post reports. "They will have to get capital", said an analyst in a Bloomberg Television interview. But since then, reports concerning the working conditions at Tesla factories have been pouring in.

Still, CNBC said Tesla's shares rose to 1.2 percent shortly after their announcement.

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Tesla has reportedly finally reached its production goal with the Model 3 building more than 5,000 of the sedans in the last week of the second quarter. In addition to avoiding China's import duties on US-made cars, a plant in China also will reduce shipping costs and potentially make sourcing components more economical. Yeah, I've been sleeping on the factory floor, not because I think that's a fun place to sleep.

Tesla boss Elon Musk has revealed more specifications for a 155mph all-wheel-drive Performance version of the Model 3 created to rival the BMW M3.

China already is the world's biggest electric auto market and is expected to grow further due in part to favourable government policies for the environmentally friendly vehicles. China already is Tesla's No. 2 market after the United States.

In May 2016, Musk said he estimated the company would make 100,000 to 200,000 Model 3s during the second half of 2017. Specifically, Musk said that the company relied too heavily upon automation, a decision Musk himself took responsibility for.

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