Musk ‘violates’ SEC settlement with photo voltaic manufacturing tweet


San Francisco, Aug 1 Tesla CEO Elon Musk is courting bother once more with the US Securities and Trade Fee (SEC) over his controversial Twitter actions, this time revealing Tesla’s photo voltaic manufacturing numbers on the micro-blogging platform.

Replying to a follower, Musk tweeted he hoped the corporate would manufacture about 1,000 photo voltaic roofs per week by the tip of the yr.

“How’s solar roof tile progress going? You were working on a new version (V3?) of that, right?” requested the consumer.

Musk replied: “Spooling up production line rapidly. Hoping to manufacture 1000 solar roofs/week by end of this year”.

The tweet could have violated the settlement that Musk reached with the SEC in April this yr.

In response to the settlement reached between the 2 events, all tweets from Musk about Tesla’s monetary well being, gross sales or supply numbers must be pre-approved by an organization lawyer.

In response to a report in Forbes late Wednesday, neither Tesla nor Musk beforehand issued a projection for what number of roofs the corporate will produce by the tip of this yr.

Musk and the SEC reached the settlement settlement over the ‘funding secured’ debacle, which initially prompted the SEC to try to put in oversight over Musk’s tweets.

In February, the SEC requested to carry Musk in contempt of court docket for allegedly violating a earlier public disclosure settlement.

Tesla and SolarCity have developed a Photo voltaic Roof system that integrates the photo voltaic cells and modules contained in the construction of the roof slightly than simply panels on a roof.

Musk first unveiled prototypes of Tesla’s Photo voltaic Roof tiles in 2016.

Photo voltaic Roof integrates with the Powerwall dwelling battery, permitting customers to make use of photo voltaic power each time they select and offering uninterrupted electrical energy throughout grid outages.

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