Tesla Could Be In India By 2020


We don't expect Tesla cars to be manufactured in India anytime soon.

According to CNBC, the Securities and Exchange Commission and Justice Department are investigating the company's Model 3 production projections.

Tesla and Panasonic now produce about 60% of the world's (electric vehicles) EV batteries, while Shanghai-based Gigafactory 3 will produce EV and battery modules, with an initial plan to produce 3,000 Model 3 vehicles a week, Musk said. Again, he blamed local regulations for Tesla's difficulties in launching its products in the South Asian country.

Tesla's SEC filing said that an enforcement action from either agency could damage its business, cash flow and future prospects.

In September, Tesla settled a civil lawsuit by the SEC over tweets by Musk that funding was in place to take the company private. Hyundai will bring its electric SUV Kona to India next year, which will be the first true long-range electric auto in our country.

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Tesla would only be at fault if it issued targets to investors that were recklessly or purposefully made without a basis in fact.

Its model 3 is the most affordable vehicle and is also the highest selling.

"Payload will be my midnight cherry Tesla Roadster playing Space Oddity", Musk tweeted in December prior to its launch. The lawsuit cites repeated promises in 2017 that Tesla was "on track" to build 5,000 Model 3s per week by the end of that year at its factory in Fremont, California.

The company said then it had booked $52 million in "zero emission vehicle" credit sales. He also said that the finished model will be a large number of titanium components.

The interview also delved into the company's plans for a Model Y crossover SUV, and the upcoming revamp of Tesla's Roadster.