Elon Musk tweets on Tesla production (again) - Tesla, Inc. (NASDAQ:TSLA)

Elon Musk tweets on Tesla production (again) - Tesla, Inc. (NASDAQ:TSLA)

Elon Musk tweets on Tesla production (again) - Tesla, Inc. (NASDAQ:TSLA)

"Tesla will make over 500k cars in next 12 months, but that's a mere 2% of 25M or 0.02% of global vehicle fleet", reads the Musk tweet in part.

An estimate urged that the Securities and Exchange Commission and Tesla CEO Elon Musk Thursday to settle their dispute or she will choose whether to give the request of the regulatory agency that the outspoken boss confront if he violates its rules protecting investors escalating fines.

The legal tussle for Musk, 47, served as a distraction amid a record decline in deliveries for Tesla during the first quarter.

Bloomberg reports that the tweet comes amid concern about the future performance of the company after reports that Tesla and Panasonic were shelving their plans to expand the production capacity of the Nevada gigafactory.

"Pana cell lines at Giga are only at ~24GWh/yr & have been a constraint on Model 3 output since July", Musk wrote in a tweet April 13.

As of Wednesday's close, Tesla shares were down 12.3percent so far this year.

In an April 4 hearing where Musk appeared, U.S. District Judge Alison Nathan questioned the specifics of the CEO's settlement with the SEC and told the two sides to rework the language of their agreement.

A previous tweet regarding a strategy to take the company private contributed to the initial round of issues with the SEC. "Come back with your reasonableness trousers on".

The SEC says it hurt investors that purchased Tesla stock but until they had precise information. Musk said his tweet did not need pre-approval because it was.

Musk claims that with all this tech constantly being added to the auto - the plan is that the vehicle is eventually so autonomous that you can have it taxi other people and earn you money - Tesla cars become "appreciating assets".

Musk's legal team has argued that he retained discretion to determine whether he was sending out material information or not, and that his February 19 post about Tesla's 2019 production was consistent with comments he made weeks earlier on an earnings call.

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