September 19, 2019, 2:07

FBI Conducting Criminal Investigation Into Tesla – Reports

FBI Conducting Criminal Investigation Into Tesla – Reports

Earlier this week the company reported $311.5 million in profits for the third quarter, Tesla’s first profitable period since 2016.

The Federal Bureau of Investigation (FBI) has started a criminal investigation into the latest Tesla production forecasts for its Model 3 sedan, The Wall Street Journal reported, citing anonymous sources familiar with the issue.

The FBI agents will reportedly interview Tesla employees in order to establish if the company was intentionally misleading its investors, over-projecting the upcoming production figures.

READ MORE: Musk’s Micromanagement Gone Extreme, Wastes Time and Money at Tesla — Employees

According to the media outlet, Tesla representatives stated that they would cooperate with the authorities on the matter. However, the company has not yet officially addressed the reports.

The news of the probe comes after Tesla CEO Elon Musk unveiled the long-awaited mass-market Model 3, which costs $35,000. According to the businessman, the company produced about 4,300 Model 3s a week, excluding planned shutdowns, and 5,300 in the final week of the quarter.

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. However, only 2,700 cars were made in all of 2017. The 5,000-a-week target was reached by the company only in June 2018.

Source: sputniknews.com

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