Elon Musk shares video of underground LA-area test tunnel

Elon Musk  InstagramElon Musk with his boring machine

Elon Musk InstagramElon Musk with his boring machine

Besides, the company has opened bookings for the Model 3 auto in the country.

U.S. regulators have issued subpoenas to Tesla for information on projections made by chief executive Elon Musk a year ago in relation to production of its Model 3 electric auto, the company and Musk have disclosed in a regulatory filing.

United States regulators have demanded Tesla to hand over information as part of a criminal investigation into whether Elon Musk's electric vehicle maker misled investors over its production figures.

Similarly, in May, Musk had made apparent the challenges Tesla was facing when it came to executing the company's plans for India.

Tesla said to its knowledge no government agency in any ongoing investigation has concluded any wrongdoing occurred. "Tesla will be there as soon as he believes we should".

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"Not many products really do make us happier". The lawsuit cites repeated promises in 2017 that Tesla was "on track" to build 5,000 Model 3s per week by the end of that year at its factory in Fremont, California. It is not clear how numerous more than 400,000 reservations for the Model 3 are for the base models. It didn't hit the 5,000-a-week target until June 2018.

The SEC's subpoenas comes a few weeks after Mr. Musk settled with the Commission on a 2nd investigation into his claims on the "420" Twitter that he would take Tesla private.

Last week, investors were cheered by the company's third-quarter net profit, wider margins, and positive cash flow, which sent shares climbing.

Unconventional factory methods and failed attempts at automation forced the Silicon Valley automaker to endure months of costly delays and executive departures at its vehicle factory in Fremont, Calif., during a time that Musk has called "production hell". He also said that the finished model will be large number of titanium components. Tesla has other models such as Roadster, Model S and Model X are another such examples.

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