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posted by martyb on Wednesday September 19 2018, @03:09AM   Printer-friendly
from the Probe-able-cause? dept.

Tesla Is Facing U.S. Criminal Probe Over Elon Musk Statements

Tesla Inc. is under investigation by the Justice Department over public statements made by the company and Chief Executive Officer Elon Musk, according to two people familiar with the matter. The criminal probe is running alongside a previously reported civil inquiry by securities regulators.

Federal prosecutors opened a fraud investigation after Musk tweeted last month that he was contemplating taking Tesla private and had "funding secured" for the deal, said the people, who were granted anonymity to discuss a confidential criminal probe. The tweet initially sent the company's shares higher.

[...] The criminal inquiry is in its early stages, one of the people familiar with the matter said. Justice Department probes, like the civil inquiries undertaken by the SEC, can take months. They sometimes end with prosecutors deciding against bringing any charges.

Also at MarketWatch.


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  • (Score: 0) by Anonymous Coward on Wednesday September 19 2018, @10:32PM

    by Anonymous Coward on Wednesday September 19 2018, @10:32PM (#737277)

    > Tesla's are mostly cold layup carbon composite.

    Ding! Wrong. Carbon fiber composite (even the fastest processes available) are too slow to make cars in medium/high volume. A few of the traditional car companies are working on getting the cycle times down and are using more carbon composite in their lower volume cars. You might be confusing with exotics made in very low volume like McLaren sports cars?

    Tesla Model S and X are mostly aluminum stampings, similar to some Audi and Jaguar models (to name a couple). Model 3 body is steel stampings. Part of the startup problem with Model 3 was getting their process onboard to deal with steel, which responds differently to stamping than aluminum.