Tesla halts on-line gross sales forward of Elon Musk announcement

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Tesla consumers may need a tough time ordering a car via its web site for the following a number of hours.

The “order” webpages for the Mannequin three, Mannequin S and Mannequin X car all redirect to point out nebulous  message that reads “”The wait is nearly over.” Under the principle message, it reads “Nice issues are launching at 2 pm.”

Tesla CEO Elon Musk tweeted Feb. 27 “Some Tesla information,” adopted by equally imprecise tweets “2 pm” and “California.”

The tweets had led to widespread hypothesis of what Musk will announce Thursday. It was sufficient to ship shares increased yesterday. Tesla shares have risen greater than 7 p.c since market open Feb. 27.

Within the midst of Musk’s teasing tweets, one other urgent matter unfolded involving his settlement settlement with the U.S. Securities and Trade Fee. A U.S. decide issued an order Feb. 26 that gave Musk till March 11 to clarify why he shouldn’t be held in contempt for violating a settlement settlement with the SEC.

The timing of Musk’s tweets, which adopted his current issues with the SEC, has struck many as a diversionary tactic meant to distract buyers and the media.

The SEC requested a decide Feb. 25 to carry Musk in contempt for violating the settlement settlement reached with the company final yr. Reuters was the primary to report the decide’s order.

The SEC argued tweet despatched by Musk on February 19 violated their settlement. Musk is meant to get approval from Tesla’s board earlier than speaking probably materials info to buyers.

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The tweet mentioned Tesla would produce “round” 500,000 vehicles this yr. He later despatched one other tweet that corrected himself. The second tweet mentioned “meant to say annualized manufacturing price on the finish of 2019 in all probability round 500ok, ie 10ok vehicles/week. Deliveries for yr nonetheless estimated to be about 400ok.”

It is a creating story.


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