Tesla will have a bit of news on Thursday; however, the topic of that news is a bit of a mystery.
On Tuesday evening—the day after the SEC asked a judge to hold him in contempt—Tesla Founder Elon Musk changed his name to “Elon Tusk” on Twitter and teased a news announcement for Thursday at 2 p.m. PT.
Thursday 2pm
— Elon Musk (@elonmusk) February 27, 2019
Thursday 2pm
— Elon Musk (@elonmusk) February 27, 2019
In October of last year, Musk settled with the U.S. Securities and Exchange Commission after making “false and misleading” statements about Tesla, specifically tweeting that he planned to take the public company private.
As part of his settlement with the SEC, Musk was required to get approval before he communicated material to investors. However, Musk did not get that approval before meeting last week that Tesla would produce 500,000 cars this year, a number he later corrected on Twitter to 400,000.
Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k.
— Elon Musk (@elonmusk) February 20, 2019
Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k.
— Elon Musk (@elonmusk) February 20, 2019
The tweet prompted the SEC to issue a contempt-of-court request, claiming that Musk was in violation of last year’s settlement.