Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

[Fact Checking]

Just a small update regarding the SEC lawsuit, Exhibits 10 and 11 to Elon's sur-reply motion are now available via the RECAP project:

Docket for United States Securities and Exchange Commission v. Musk, 1:18-cv-08865 - CourtListener.com

Exhibit 10 – #33, Att. #2 in United States Securities and Exchange Commission v. Musk (S.D.N.Y., 1:18-cv-08865) – CourtListener.com
Exhibit 11 – #33, Att. #3 in United States Securities and Exchange Commission v. Musk (S.D.N.Y., 1:18-cv-08865) – CourtListener.com​

These are the settlement negotiation emails between the SEC and Tesla/Elon lawyers in "redline" form through which lawyers propose and reject changes to the settlement.

Notes:

• Interesting that Cheryl Crumpton was not on Cc: to the discussions. This technically could have made her "not aware" of these redline edits.
  
• The redlines are IMHO making it pretty clear that the SEC was pushing hard to get mandatory "Twitter censorship" installed for Elon, and Tesla/Elon pushed back and the SEC didn't get those restrictions.
  
• I.e. the redlines are pretty damaging to the SEC's position and legal theory AFAICS.
• The SEC did object to these exhibits being admitted as uncontested evidence, but didn't counter it so far with their own evidence.
• Chances are that materialness or constitutional arguments will make this kind of intent evidence moot, but should it ever get here it's another layer of defense the SEC would have to break through to get Elon be held in contempt.

I don't know how the SEC will try to explain this away at oral arguments. My guess: they will try not to talk about it too much.

(Heads up to @TNEVol and @Big Blue 1011.)

 

[AlexS]

Norway have still left some cars to deliver. Today is 77 cars delivered so far. So not all cars got delivered during Q1

 

[Tenable]

Forgot to mention: one guy had a really badly scratched front bumper. He knows that Tesla will make it right, but it made him annoyed about the bad delivery experience many people have. The general consensus seems to be that this end of quarter nonsense needs to stop.

I had my P3D delivered last Thursday. It came with road rash, fish eyes, minor and deep scratches, rock chips, odd internal wind noise and creeks that I cant seem to isolate inside the cabin. I am sad to say that this has been a very disappointing experience. More so because I called the deliver center that shipped me the car, they told me to contact my tesla sales rep, who told me to contact delivery who then told me to contact another number. Down the line after 11 calls, I was told that it would be figured out after the weekend. I will say, that outside of those issues the P3D is a phenomenal car. The acceleration and more nimble feel always keeps a smile on my face. I loved the white seats on red. But I am sad to say I will be taking advantage of the 7 day return policy.

With that said, I got a fantastic deal on a P100D which we are excited to receive. Also, to everyone thats been waiting for a refresh, I've just secured it for you. You're welcome.

Edit: I realized I left this part out and it certainly matters. While it does not excuse the poor fit and finish of my P3D, the lack of detailing, etc. This was an inventory car, which may explain things like the road rash.

 

[mrdoubleb]

Almost 7,000 Model 3s were sold in Norway during March

The Spring on Twitter

Yeah, something is off with those numbers. The official registration data shows 17 in January (vs their 59), 791 in February (vs. 1668) and 5315 for March (vs. 6939).

BTW the total for Norway Q1 is 6123 Model 3s, 632 X and 269 S for a total of 7024.

 

[Chop110]

Hope not to upset anyone or _anything_, but are we all in silent agreement to not mention the current SP on this thread?

Don’t even look at it!!

 

[printf42]

OT
Saw this on TURO today:
Porsche and Turo introduce the Porsche Host Program
Porsche is teaming with TURO with a concept of “Porsche Hosts”:

• they select best cars and train the hosts to make sure the renters has the best experience.
• on top of that they provide perks like road side assistance to steer renters towards these hosts and in turn provide better odds of good brand impressions.

If Tesla don’t want to rush their car sharing program aka Tesla networks, I can totally see the advantage of doing something similar with TURO first:

• Tesla can provide key pairing and driver profile syncing through Tesla App.
• Renters can rent EAP and FSD directly from Tesla if the car doesn’t come with it.
• Supercharging fees goes to renters directly.
• It would be a great substitution of test drives at no cost at all to Tesla.
• Tesla got the chance to learn how to run a car rental business they would eventually do themselves.
• There are plenty of Tesla cars on TURO already, it’s good to try manage the experience of those renters, many of them would be potential buyers.

 

[ZsoZso]

You can't make Model 3s without brakes and wheels.

So enough to stop production.

But I guess Tesla would need to get items by ship?

Who needs breaks when you have regen ?
Wheels ? Come on! Where Tesla is going they don't need roads wheels !

 

[Artful Dodger]

Almost 7,000 Model 3s were sold in Norway during March

The Spring on Twitter

I wouldn't get too excited about their numbers just yet. Tesla Registration Stats Norway lists every Tesla car sold by VIN each day.

They list 5,305 Model 3s total for March 2019.

 

[KarenRei]

New GF3 satellite image from today (right), compared with 17 March (left):

~85% of the Phase 1 site has been concreted. New road construction and earthmoving underway in the Phase 2 site to the south.

I really want to see those roof trusses spread and get paneled. Because you know that the instant there's anywhere with even the most basic protection from weather, Tesla is going to start setting up lines

 

[X Fan]

Great news for North Carolina EV drivers: Duke Energy to invest $76M & add 2,500 more charging stations plus fund adoption of electric school buses and public transportation.

Duke Energy to Invest $76 Million in Electric Car Chargers

 

[Fact Checking]

I really want to see those roof trusses spread and get paneled. Because you know that the instant there's anywhere with even the most basic protection from weather, Tesla is going to start setting up lines

Can they install heavy machinery such as presses, without waiting for the deep foundations to cure?

 

[KarenRei]

Can they install heavy machinery such as presses, without waiting for the deep foundations to cure?

They're already driving cement trucks, cranes and the like on them. Given the additional time between now and when such mass could reasonably be brought to the site, I can't see it as an issue.

 

[RobStark]

Norway hardly exports any ICEv as due to the excessive taxes on ICEv any import price will be a lot lower than what the price is in Norway. So what happens is they are sold eventually in Norway or used/ "sold" to family as hand-me-downs. We can easily import ICEv though as the taxes are added after import and still they might end up being cheaper than buying the same car here in Norway.

What matters is not the taxation on ICEv but what Norwegians are willing to pay for a used ICEv.

I am willing to bet that is falling fast.

If that price plus delivery cost is below what a Russian is willing to pay then it gets exported.

 

[sparcs]

• The SEC did object to these exhibits being admitted as uncontested evidence, but didn't counter it so far.

I don't know how the SEC will try to explain this at oral arguments. My guess: they will try not to talk about it too much.

Didn't the SEC indicate that it had additional information that would show a different analysis than the one Tesla is presenting with these emails? Basically, If Tesla is allowed to include these emails, they have more exhibits to add.

 

[lklundin]

By 2021 CATL plans to have an annual battery production of 14 GWh up and running in Germany.

At 80 kWh per car, that's an annual 175k cars.

By 2026 they plan to get that up to 60GWh, enough for 750k 80kWh cars annually.

China's CATL to scale up EV battery production in Germany

I guess it's a start.

 

[KarenRei]

Didn't the SEC indicate that it had additional information that would show a different analysis than the one Tesla is presenting with these emails? Basically, If Tesla is allowed to include these emails, they have more exhibits to add.

SEC said they had further information that could prove that Musk was required to submit all material information. But that's a red herring since nobody is contesting that he's required to submit all material information.

 

[Nocturnal]

Don’t even look at it!!

SP? I don't even know what that stands for....Salt and Pepper?

 

[Hock1]

Can they install heavy machinery such as presses, without waiting for the deep foundations to cure?

General rule for concrete is that the load, for which the foundation has been designed, should not be applied until 28 days of curing. In the case of GF3, I don't think there is any danger of having to wait for curing time. I.e., it will be a lot longer than that before it is time to install machinery. JMO.

 

[Fact Checking]

Didn't the SEC indicate that it had additional information that would show a different analysis than the one Tesla is presenting with these emails? Basically, If Tesla is allowed to include these emails, they have more exhibits to add.

Yes, but the SEC failed to include these - which they'd have done if it helped their argument.

My reading: they were trying to make it more difficult for the judge to use "settlement negotiations intent" to construct the interpretation of the settlement contract and consent decree.

Chances are high that the SEC's motion will fail on materialness or on constitutional grounds, and the court won't have to look at settlement contract intent.

I do think that for Elon to be found in contempt the court would have to examine the intent of the parties. You cannot violate a contract interpretation you can prove you didn't agree to, right?

The court invited the SEC to complete that chain of evidence, by offering to hold an evidentiary hearing. The SEC refused the offer. I.e. the SEC not submitting those extra emails closed the door on most legal routes for Elon to be held in contempt, IMHO.

(Not a lawyer, etc. )

 

[sparcs]

SEC said they had further information that could prove that Musk was required to submit all material information. But that's a red herring since nobody is contesting that he's required to submit all material information.

That reeks of desperation since it doesn't dispute that they modified the agreement to be weaker than they originally wanted. Hopefully, the judge sees through this blatant attempt by the SEC to expand the scope of the agreement.