DOJ Expands Probe Into Tesla’s Business Practices

October 23, 2023 Business, Government

The New York Times reports:

The Department of Justice has expanded its inquiry into Tesla’s business practices to include how far its vehicles can travel on a full charge and “personal benefits” to high-ranking executives or large shareholders, the company said without elaborating.

The disclosure follows recent news reports that the carmaker appears to have misled customers about how far its vehicles could travel before needing to be plugged in.

Tesla also said in a regulatory filing that the government had subpoenaed documents related to “personal benefits” and unidentified “related parties,” a term that often refers to top management, company directors or large shareholders. Tesla had earlier disclosed that the DOJ had issued subpoenas for documents related to its self-driving software.

Yahoo Finance reports: 



It’s now clear that Tesla’s third-quarter earnings call on Wednesday didn’t exactly go as expected. CEO Elon Musk acted like “a little baby,” financial analyst and YouTuber Kevin Paffrath  told Yahoo Finance. He also described the call as “terrible” and said Musk was “almost in tears” at one point.

“For a leader to cry about the economy rather than funneling that and coming up with a plan is pathetic,” said Paffrath, who has almost 1.9 million subscribers on his Meet Kevin YouTube channel, and owns Tesla stock. Tesla reported weaker than expected third quarter results.

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