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SEC subpoenas Tesla over Musk tweet


The investigation into Elon Musk tweets, about, taking tussle private has reached a more serious stage Bloomberg has learned that the electric car maker has received. A subpoena from the SEC about Musk's proposal musk exposed, himself to legal risks last week by tweeting that he? Had funding arrange for a bio. A while all this controversy has taken the spotlight, over last week where does the pace of production for the tesla model three stand a team of ever. Core analysts visited the electric car factory and. Says the company is. Well on its way to building five to six thousand model three electric cars a, week. The firm says its own estimate of, tusla's second half of model three production may be up, to. Seven percent too low here to discuss all things tesla Bloomberg's creature del. Joins us from Detroit and here on set with me is Bloomberg's Alex Barranca Craig I want to, start out with you amid this bizarre. Turn of events there has been some good. News coming Out of every core ISI just how significant and positive. Is this new data that they're reporting It would be really significant if ever core is is on point here because obviously one of the many questions. That we have out of of everything that's transpired since Musk's tweets on Tuesday of last week one of one really important one that's maybe been overlooked is is just how is the company doing. Amid this potential huge distraction of of maybe maybe not going. Private and from ever Kors account it looks like they've been able to maintain production in that they see a clear path to a level of of manufacturing. For the model three that would enable the company to hit the production targets that they've said and. That's so key for the company because they've talked about, getting to profitability and positive cash flow if Moscow is going to pull off this gambit in it's really unclear to this point whether he can or not It's going to be really important that he's able to actually execute what he's said the company is going to do in the second half Craig what. About this SEC subpoena we know that these investigations can take many months and sometimes at least a. No action at all but what's the sense of what, potential impact this could have on the progression of this deal The our reporters in Washington had a. Great story yesterday about the. Idea that the average for inquiry along these lines can can take up to two years so it's probably the case, that even if it looks to us or or other outside observers like gee it. Looks fairly obvious here that that this was not okay and. And there was a violation. That the SEC does need to sort of cross it's t's and dots is and we've seen in. The past that when in executive has pushed back against what the SEC is wanted to claim You think about the long ordeal that, played out between Mark Cuban for example where, they tried to allege. Violations and Cuban fought it tooth and nail and sort of. It was a long

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