US regulators subpoenaed Tesla production data, company says

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The gambit fell apart after Musk failed to line up funding, prompting an investigation by the U.S. Securities and Exchange Commission. "But I think with Tesla, we really want to make products that people just love, that are heart-stopping".

In a tweet shared Thursday morning, CEO Elon Musk confirms that the feature will be available in about six weeks, and will enable owners to control their vehicles remotely from the app as long as they are in the car's line of sight.

Department of Justice prosecutors have also asked for the company to provide information about production numbers, according to Tesla, although it stopped short of issuing a formal subpoena.

The Model 3 saloon, a more affordable auto than Tesla's previous models, is seen as crucial to the company's future and Mr Musk has described Tesla's push to make enough vehicles as "production hell".

Tesla has often struggled to hit its chief executive's ambitious production forecasts.

"To our knowledge no government agency in any ongoing investigation has concluded that any wrongdoing occurred", Tesla wrote in its filing.

Elon Musk, today revealed that the company's plans to expand its overall market beyond North America, Europe, and China.

The settlement required Tesla and Musk to pay a fine of $20 million each and for Musk to give up his chairman post for three years.

Last week, investors were cheered by the company's third-quarter net profit, wider margins and positive cash flow, which sent shares climbing.

Tesla shares closed up less than half a percent at $346.41 in NY trading on Friday.



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