Bad news for Model 3 of Tesla
Mr Musk's "water regurgitation month" is endless.
The delivery of the Model 3 was not kept up, the parts were exposed to quality problems, the fatal car accident was still under investigation, and the stock price was completely empty...Now, a lawsuit has revealed a large number of Model 3 production details, showing that Mr Musk could not have been unaware of the Model 3's inability to achieve mass production targets, but continued to send positive signals to the market.
On March 23, a proposed lawsuit alleged that tesla, musk, CEO and CFO Deepak Ahuja should know the Model 3 can't to production plan, but not publicly disclosed to investors, therefore, securities fraud lawsuit.
The filing of the lawsuit was announced.The plaintiffs pointed out that in May 2017, tesla said the company had completed the "right track" of mass production targets, and that the full automated production line should have been in place in August of that year.But some former employees revealed that the automated production line was not complete until the end of 2017, and the production of the Model 3 was not "on track".