U.S. securities regulator subpoenas Tesla on Model 3 production estimates

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The subpoena confirms that the SEC is investigating the company's production claims.

The Model 3 is a central part of Tesla's plan to expand from a niche player in the luxury segment to a auto maker with broader appeal.

Elon Musk, following his short-lived plan to take Tesla Inc. private, said he now "probably" wouldn't accept an investment from Saudi Arabia's government after the death of dissident journalist Jamal Khashoggi.

But if Musk had any worries about the feds' investigation, he didn't show it in an interview with Recode's Kara Swisher on Friday, instead choosing to talk about Tesla's long-awaited pickup truck, which he said will be like something out of the sci-fi classic "Blade Runner".

Early previous year the Palo Alto, California, company announced plans to produce up to 5,000 Model 3s a week by the end of 2017.

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Both the SEC and U.S. Department of Justice are looking at whether Tesla misled investors about its business.

Tesla has often struggled to hit its chief executive's ambitious production forecasts.

The Elon Musk-led company said in a filing Friday that thus far, no government agency in ongoing investigations has concluded that any wrongdoing occurred.

Tesla finally met that target in June of this year.

Tesla has weathered a rocky few months in the wake of Musk's tweets that he had "funding secured" for a deal, later scuttled, to take Tesla private. It's also key to the company's cash flow and pledge to make quarterly net profits into the future. It did not say at the time that it had gained another $137 million in regulatory credits, which contributed to almost half of the profit.

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