Tesla Denies Reports Over Deeper Criminal Investigation Into Model 3 Production


Tesla has denied the claims that they are going through a deeper criminal investigation regarding the production guidance for the new Model 3 sedans of the company.

Last Friday, the Wall Street Journal claimed that some agents of the Federal Bureau of Investigation were investigating the company. The electric car-maker later released its response to the said claims.

The report claims that the FBI are conducting a probe in order to establish “whether Tesla misstated information about the production of its Model 3 sedans and misled investors about the company’s business going back to early 2017.”

The report also says that FBI agents have contacted some former employees of Tesla for testimony in the criminal case and that they received subpoenas earlier in the investigation.

A spokesperson for Tesla said that it had received a voluntary request for documents from the Department of Justice. He also said that the firm was cooperative in responding to it.

The Tesla spokesperson disclosed: “We have not received a subpoena, a request for testimony, or any other formal process, and there have been no additional document requests about this from the Department of Justice for months.”

Last September, Tesla said that the FBI was looking at statements from Elon Musk, its chief executive, regarding private funding, and any focus on the past production statements would broaden the investigation into the company, which has just left a civil fraud settlement behind it.

Tesla confirmed that they had been asked for some documents regarding a deal to take the company private last September, after the tweets of Musk about having “funding secured.”

The news comes days after the company reported a profit and a positive cash flow last Wednesday, as Musk made good on his pledge to ramp up the production of the new sedan and turn over a profit.