Tesla says Justice Department and SEC are investigating Model 3 production targets

The Securities and Exchange Commission and Department of Justice are investigating Tesla's Model 3 production projections, the company said in a regulatory filing Friday.

In particular, the SEC has issued subpoenas to Tesla in connection with (a) Mr. Musk's prior statement that he was considering taking Tesla private and (b) certain projections that we made for Model 3 production rates during 2017 and other public statements relating to Model 3 production. The DOJ has also asked us to voluntarily provide it with information about each of these matters and is investigating.

This story is developing. Check back for updates.

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