Elon Musk's Statements About Tesla Car Production Raising Questions
Elon Musk, the billionaire and double CEO, raised many an eyebrow from industry experts and the U.S. Securities and Exchange (SEC) alike with his statement regarding the production of new Tesla models that didn't quite add up to actual delivery and production figures.
For luxury car enthusiasts, some rather exciting promises were made by Musk during a January 27th conference which went over Tesla's fourth quarter performance. Models of the Goliath company's oldest models were said to be reproduced to much elation: S Sedan and X large SUV. In addition, the much anticipated "Plaid" version of the Model S was promised to be produced and ready to ride in February.
"We're super excited to announce the new Model S and Model X Plaid are in production now and will be delivered in February," says the CEO during the conference as according to Car and Bike, "We have been able to bring forward the Plaid Model S and X - Model S will be delivered in February and Model X a little later. The Model S Plaid, we're actually in production now, and we'll be delivering next month."
Though, as it is in business, promises aren't always kept. When the company released its delivery and production figures last week, it was revealed that none of these vehicles were produced with the quarter. Yahoo News! reports that of the 18,000 models produced within this time, all were of separate models than that of what were stated by the Tesla CEO - "the 3 small sedan and the Y small SUV."
Experts are split between the disparities from Musk's statements and the factual figures shown.
While St. John's law professor Anthony Sabino believes that the mogul's promises may just put, "himself into a bit of trouble with the SEC," others are willing to give Musk some benefit of the doubt.
Columbia University's John C. Coffee points out that Musk's premature statements were possibly a, "prediction and not a declaration of fact, and that something later happened to alter that prediction."
Much their investigation in 2017, the SEC contacted Tesla and was left in silence. This is not surprising as Musk's disapproval of the SEC has always been made public with the billionaire renaming the company, "shortseller enrichment commission."
Sources: Car and Bike, Yahoo News!, Mint
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