Tesla warns that a federal probe into whether it exaggerated the range of its cars may lead to a ‘material adverse impact on our business’
Tesla warns that a federal probe into whether it exaggerated the range of its cars may lead to a ‘material adverse impact on our business’
Earlier this year, Reuters reported that Tesla had created a special “diversions team” to avoid dealing with complaints from customers about their vehicle ranges.
Tesla warns that a federal probe into whether it exaggerated the range of its cars may lead to a ‘material adverse impact on our business’::Earlier this year, Reuters reported that Tesla had created a special “diversions team” to avoid dealing with complaints from customers about their vehicle ranges.
No...fucking...shit...
I dunno. The musky chodelet has avoided consequences for his actions so far. I doubt there will be any significant change or punishment for tesla.
His simps will just run interference for him. Stupid shit like "well yeah range is lower because , it's science bro."
Idk man, as someone who makes an appropriate income enough to afford a Tesla, I don't see any issues with it. And if we're being honest Twitter (now X) has only gotten better since Elon bought the platform. I don't know why everyone hates Elon so much.
What is a single thing about Twitter that has gotten better? Selling my Tesla for an electric Mustang was the best choice I've made in a while.
I don't give really a shit about him, but from the dropoff in Twitter's usage and value to production and publicity issues at Tesla and cutting off the Ukraine army's access to Starlink, it seems there's, well, a lot to hate about him. And like he might not be that good at his job.
as someone who makes an appropriate income enough to afford a Tesla
7h old account that posts nothing but inflammatory comments. I guess shitposting is paying 6 figures nowadays?
Dude, lay off the crack 😂
"If we are investigated and it turns out we lied to get more sales, it could hurt our sales if we can't continue to lie about our products."
I get where they're coming from.
If there's a probe that results in no substantial findings, it would likely still impact sales for some period of time, simply because there was a probe. In that case, Tesla's concern is justified.
If, however, they do find that Tesla is exaggerating their range, then I hope the lawsuit is spectacular and expensive.
My parents have a Tesla (they bought it used), and its range is shite.
... which is why there won't be a probe unless there are findings first. And from the sounds of it, there are findings.
If Tesla really did create a "special team" to deal with this issue, then that means it's very much a real issue. Reuters is a reliable publication - they would have gathered evidence before reporting that.
Just goes to show that you should not create a situation where a probe like that is justified. This is all Tesla's own fault.
If enforcement of federal laws does not cause a "material adverse impact" the penalty is far too low.
“…But investigating my frauding will affect my ability to continue profiting off my fraud.”
-Elon probably
Translation: "we did the thing you suspect so don't investigate pretty plz"
It's actually a threat. They're saying they'll sue over an investigation.
Oh boo hoo!!!
If you need to lie to your customers to make a buck you don’t deserve to be in business.
Tesla and Elmo can both eat a dick.
That's the idea...
Good. Now stop lying about shit.
Cry more you little incompetent trust fund shit. (Elon, not OP)
OP is a bot
Is it mean to say I want this company to go bankrupt?
Elon is an idiot but if we could get him to fuck off to an island somewhere I'm hoping Tesla can still do some good.
I think they lit a fire under the big car companies and made them invest in electric. They are still playing catch-up.But yeah I want Elon to disappear and stop being a dip shit.
This is an SEC filing. They are required to disclose to investors that this is going on and could impact their investment. Pretty standard stuff. They are not complaining that the feds are hurting their business or scaring people away from buying their cars - at least not in this filing. All they are saying is there’s this significant thing going on that could have an impact on the company’s value.
It would probably be smart for Tesla to settle this quickly and quietly because their range estimates are completely bonkers. Some kind of “agree to disagree on testing methods and we will pay up and do a better job” thing without this going too far. A VW diesel-gate kind of situation would be devastating to them. Elon is such a polarizing figure to begin with and there are some pretty good EV alternatives out there now. The only real killer feature they have left is the Supercharger network. Before anyone says FSD, it’s a scam and it doesn’t work.
I might bring wrong here but I'm pretty sure the claim in the title is incorrect?
Tesla is under numerous investigations which are all disclosed in thar same filing, and any one of them could lead to what the title says.
The title makes it sound like it's THIS specific one.
This could do nothing for example, but the AP one could be really bad? Tesla isn't signaling out which one it thinks is the most materially damaging if they have to do something.
A VW diesel-gate kind of situation would be devastating to them.
Dieselgate is estimated to have killed 5,000 people per year in Europe alone (and they were selling those cars worldwide).
There is a big difference between lying about how far your car will go on a charge and releasing toxic (and illegal) chemicals into the air while the car is driving... especially when the car has the capability to capture those chemicals but the system was deliberately setup to only activate while the car was undergoing safety checks.
VW's "solution" to the scandal was to basically do what Tesla is accused of right now. They modified the car to give it worse MPG in winter than what was advertised to buyers (as far as I know, the system to capture chemicals requires a lot of heat, and you need to run the engine at higher RPM to create enough heat in winter).
Where I’m going with the comparison to VW is we don’t know where that rabbit hole goes with Tesla. Diesel-gate just kept getting worse for VW the more investigators dug into it. Tesla appears to be an even less professional operation. I can only imagine what would come out if there was a real investigation there.
If people find out that we lied, they will know what we lied!
Oh. Anyway...
Lying about your shit product will do that, yeah
Good.
This needs to be spammed by bots directly to his twitter (yes I know the deuce called it X now, but fuck that) account till the ends of time.
Perfection
Oh no, gosh, what a shame. Anyway....
To put some numbers on it..
I don't think anyone in the US tests EV like TeslaBjorn to make a spreadsheet about it, although I guess you could find out the EPA ranges of all those cars, convert km to miles, and get a reasonable one.. percentages would be different as WLTP is a different test (it tends to exaggerate ranges, so will be higher, although nothing like the clusterfuck that NEDC was).
Polestar must be worried too.
it's such bullshit though claimed range 540km, actual range 400km in ideal temp conditions. thats not a small exaggeration. it's straight up bullshit.
Yeah. Lying does that.
Yeah that's the point dipshit
Poor babies
Still waiting for robo taxis. That's false advertising.
Why do people think robo taxis don't exist yet?
They do, and they cause a lot of havoc on the roads where they operate (San Fran)
Not tesla robotaxis.
Musk has been pitching "FSD will let you loan out your car as a robo taxi when youre not using it" for years. He literally said you would be a fool for not buying it.
Telsa hasent even gotten to the point where they autonomously cause havoc like Cruise or Waymo. They are just nothing instead.
But is it a Tesla Robo Taxi? Using software only from Tesla?
Oh no, anyways...
What are you going to get in this weekend?
Maybe bed bath and beyond but not sure if I'll have enough time
That's the point, yes.
This is the best summary I could come up with:
Tesla says it has received requests for information and subpoenas from the US Department of Justice related to potential personal benefits violations, the advertised range of its vehicles and personnel decisions.
The Wall Street Journal in September reported that federal prosecutors are investigating perks provided to Chief Executive Officer Elon Musk going back as far back as 2017, including a project described as a glass house for Musk.
Earlier this year, Reuters reported that Tesla had created a special “diversions team” to avoid dealing with complaints from customers about their vehicle ranges.
The filing warned of “the possibility of a material adverse impact on our business” should the government pursue an enforcement action.
The subpoenas add to a mounting number of government probes into the electric-vehicle maker.
In September, the US Equal Employment Opportunity Commission sued Tesla alleging that it has been “tolerating widespread and ongoing racial harassment of its Black employees” at its Fremont, California, plant.
The original article contains 196 words, the summary contains 155 words. Saved 21%. I'm a bot and I'm open source!
Feck off
“If we can’t lie about what it can do, how can we sell our product?” is an absolutely wild admission.
Oh my
tesla warns that being outed for lying about range will make people not buy their cars.
Yeah, if I was investigated for fraud, it would also have an adverse impact on my business as well. We should just never investigate fraud then I guess.
Uh… yeah. That’s the idea. That’s what happens when you falsely advertise.
Don't tempt the US government with a good consequence 😁
I only visit the comments of these kinds of posts to see the "praise me" comments from people that bought one of these and needs randos to know they made a good purchasing decision.
Itt: Lemmy learns about sec filings.
Careful Elon the shit flying out of your mouth might make dingleberries on those pubes you got growing on your face
Skill issue
Permanently Deleted
It feels telling of corporate media that they chose to frame the company under suspicion of fraud complaining about the government investigation ruining their profits as a “warning.” As though they’re experts reporting on their predictions about a natural phenomenon or a policy proposal and not… you know… the criminals crying foul.
This is nothing less than an admission IMO.
Counting the days till you eat your hat
Why is this tech news? Shouldn't this be car news?
Because it's about the leading company involved in transitioning cars from one core technology to another core technology.
But even so this bit of news is more about the business side rather than about the technology.
Fortune once again sterilizing the headline.
if they didn't want to report the uncomfortable facts, they could just choose to not report anything.
