Economy

Elon Musk Doesn't Think Apple Is Making Happy Products Anymore

Elon Musk Doesn't Think Apple Is Making Happy Products Anymore”

Today's news follows on from recent reports in the Wall Street Journey that suggested Federal Bureau of Investigation agents were looking into whether or not Tesla misled investors about production of its Model 3 cars.

The Elon Musk-led company said in a filing Friday that thus far, no government agency in ongoing investigations has concluded that any wrongdoing occurred. "But I think with Tesla, we really want to make products that people just love, that are heart-stopping".

Tesla has denied the claims, saying it disclosed production bottlenecks once identified, and pointing to Musk's public statements that the company was undergoing a period of "production hell" in 2017.

Shortly after commenting, Musk announced that the parking upgrade will be ready in around six weeks and will be a software upgrade available to all Teslas produced in the past two years. We can not predict the outcome or impact of any ongoing matters. "Should the government decide to pursue an enforcement action, there exists the possibility of a material adverse impact".

Early past year the Palo Alto, California, company announced plans to produce up to 5,000 Model 3s a week by the end of 2017. In fact, it took the company until the last week of June to reach that production number in a single week. Even though he carries an iPhone, Musk didn't seem all that happy with the tech company as of late.

The SEC's question may hinge on whether Musk could have known during that Q3 earnings call that the problems with the Model 3 assembly line would take longer to fix than his production forecast projected.



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