Tesla’s (NASDAQ:TSLA) M3 Production Numbers in Question

Tesla’s (NASDAQ:TSLA) M3 Production Numbers in Question

Tesla’s (NASDAQ:TSLA) M3 Production Numbers in Question


Former Tesla (NASDAQ:TSLA) employee Martin Tripp has filed a whistleblower complaint with the SEC in which he alleges the company lied about Model 3 production numbers and put unsafe batteries in its EVs.

According to the report the complaint repeats claims Mr. Tripp had previously made to BI, including that Tesla used batteries with puncture holes in vehicles meant for consumers.

Tesla has previously denied this claim.

Mr. Tripp also now claims the company over-reported M3 production by up to 44%, according to the complaint.

Tesla did not immediately respond to a request for comment.

In June, Tesla filed a lawsuit against Mr. Tripp, alleging that he hacked confidential company information and gave it to parties outside the company.

The lawsuit claims Mr. Tripp installed hacking software on the computers of three colleagues that would continue to export company data after he left the company while making it appear as if his colleagues had chosen to send the data to third parties.

In an e-Mail exchange with Tripp, Tesla CEO Elon Musk called him “a horrible human being.”

Mr. Tripp refuted Tesla’s claims in response to Mr. Musk, saying, “I NEVER ‘framed’ anyone else or even insinuated anyone else as being involved in my production of documents of your MILLIONS OF DOLLARS OF WASTE, Safety concerns, lying to investors/the WORLD.”

In an interview Mr. Tripp said he leaked information about the company because his supervisors and other senior employees were not responsive to his concerns. He said he did not intend to commit sabotage against the company, but was instead concerned about consumers safety.

Symbol Last Trade Date Change Open High Low Volume
NASDAQ:TSLA 318.96 11 July 2018 -3.51 315.8 321.94 315.07 4,884,000
HeffX-LTN Analysis for TSLA: Overall Short Intermediate Long
Neutral (0.05) Neutral (-0.17) Neutral (0.02) Bullish (0.31)

Stay tuned…

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