Connect with us

News

Tesla’s Elon Musk files appeal to end 2018 SEC agreement over Twitter posts

Credit: TED/YouTube

Published

on

A recent filing has revealed that Tesla CEO Elon Musk will be asking the 2nd US Circuit Court of Appeals in Manhattan if it could overturn a decision by US District Judge Lewis Liman back in April. Judge Liman had previously rejected Musk’s requests to end his 2018 agreement with the Securities and Exchange Commission about his Twitter posts. 

Following Musk’s “funding secured” saga in 2018, he entered an agreement with the SEC which demanded that any tweets with material information about Tesla must be vetted by a lawyer before they were posted on Twitter. Musk and the SEC have clashed several times since. 

Musk has since put efforts into ending his agreement with the SEC. Earlier this year, Musk accused the SEC of undermining his constitutional right to free speech. He also accused the SEC of using the decree to launch “endless, boundless investigations of his speech.” 

Musk’s efforts, however, met a roadblock in April when US District Judge Lewis Liman decreed that the Tesla CEO and the SEC’s agreement should stand as it was originally written

“Musk cannot now seek to retract the agreement he knowingly and willingly entered by simply bemoaning that he felt like he had to agree to it at the time but now—once the specter of the litigation is a distant memory and his company has become, in his estimation, all but invincible—wishes that he had not,” Liman wrote

Advertisement

With Musk’s recent appeal, the CEO and his legal team would now try to argue their points in a different courtroom. Whether this is worth a shot remains to be seen, but it does highlight the idea that Musk really wants his agreement with the SEC to end. Musk seemed to regret his decision could the matter, as he mentioned during a TED 2022 interview last April. 

“I should say, originally with Tesla back in the day, funding was actually secured. I want to be clear about that. In fact, this may be a good opportunity to clarify that. If funding was indeed secured and, I should say, why do I not have respect for the SEC in that situation? And I don’t mean to blame everyone at the SEC, but certainly the San Francisco office. Because the SEC knew that the funding was secured, but they pursued an active public investigation nonetheless.

“At the time, Tesla was in a precarious financial situation. And I was told by the banks that if I did not agree to settle with the SEC that they would cease providing working capital, and we would go bankrupt immediately. So that’s like having a gun to your child’s head. So I was forced to concede to the SEC unlawfully. Those bastards. And now it makes it look like I lied when I did not, in fact, lie. I was forced to admit that I lied to save Tesla’s life. And that’s the only reason,” Musk said

Musk’s appeal could be viewed below. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Advertisement

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

Advertisement
Comments

News

Tesla Model Y L has two distinct features for luxurious comfort

This is not to say the other interior additions are not factors in the Model Y becoming a more luxurious and premium vehicle, but the two mentioned in this article are particularly pertinent in that conversation.

Published

on

Credit: Tesla

Tesla’s new Model Y L has two distinct features that are geared toward giving occupants a taste of luxury with guaranteed comfort.

These two features should definitely be part of the company’s future lineup, and they could prove to be massive upgrades to the Model Y’s interior, which is certainly premium but is missing some things that truly tailor to a “luxury” feel of an automobile.

This is not to say the other interior additions are not factors in the Model Y becoming a more luxurious and premium vehicle, but the two mentioned in this article are particularly pertinent in that conversation.

Tesla Model Y L might not come to the U.S., and it’s a missed opportunity

Power-Adjustable Thigh Supports

In the front seats of the Model Y L, there are power-adjustable thigh supports that will enable some additional comfort on the legs:

Most might think that these thigh supports are simply a feature that makes the ride more comfortable, which is true. However, they have benefits for the ride and after you exit the car.

Providing proper lift on the legs and thighs can be beneficial for people with back problems or posture issues. The lower back takes an increased amount of stress during long car rides, especially as the legs are fixed in the chosen seating position.

Tesla Model Y L officially launched: price, features, and more

Adding some support to the thighs can help reduce pressure on the lower back and hips, and distribute weight more evenly, taking stress off pressure points.

It can also contribute to better spinal alignment. They also have safety benefits, as some riders could have an improved seatbelt position thanks to the thighs being in this position.

Second-Row Mechanical Armrest

Tesla also added mechanical, one-touch armrests to the Model Y L’s second row, a nice and premium touch for the riders in the middle of the vehicle:

Add the additional space the Model Y L provides to riders, and it already gets more comfortable. However, the addition of the mechanical armrests gives a good option of comfort for those who are seated in the second row.

They can also be retracted with the touch of a button, allowing for those in the third row to exit the vehicle easily.

One con to the mechanical portion of these armrests is that it is another moving part, and, of course, that puts it at risk of having issues.

However, it is certainly more premium than a manual armrest, and the flashy carbuyers will appreciate this small but mighty addition.

Continue Reading

News

Tesla’s NHTSA probe is already on its way to being resolved

The problem the NHTSA had with Tesla’s reporting is already on its way to being resolved, as the agency and the company have been in communication.

Published

on

tesla showroom
Credit: Tesla

Tesla is being probed by the National Highway Traffic Safety Administration (NHTSA) for not reporting accidents in a timely manner, the agency said on Thursday.

It is already well on its way to being resolved, the agency said.

The agency’s Office of Defects Investigation (ODI) identified numerous instances in which Tesla reported crashes that “occurred several months or more before the dates of the reports.”

The Standing General Order in place by the agency requires crash reports to be submitted within five days of Tesla receiving the notice of an accident.

The investigation states Tesla submitted crashes in one of two ways:

“Many of the reports were submitted as part of a single batch, while others were submitted on a rolling basis.”

The problem the NHTSA had with Tesla’s reporting is already on its way to being resolved, as the agency and the company have been in communication.

Tesla has already been in contact with the agency’s ODI and stated that the timing of the reports was an issue with its data collection. The issue has been resolved, Tesla told them.

The NHTSA said the initiation of the probe against Tesla is a “standard process for reviewing compliance with legal requirements, to evaluate the cause of potential delays in reporting, the scope of any such delays, and the mitigations that Tesla has developed to address them.”

It is the latest NHTSA probe into Tesla, as it has also been investigating the company for accidents during Full Self-Driving operation in reduced visibility conditions.

The agency also sought information on the rollout of Robotaxi a few months ago, and how Tesla planned to handle low-visibility conditions in its driverless ride-hailing service.

The NHTSA was interested in knowing how Tesla planned to assess the ability of FSD’s engineering controls, whether any other similar FSD crashes had occurred in low visibility, and if modifications to FSD software would impact its performance in these conditions.

Continue Reading

News

Tesla rolls out minor but significant improvement to Robotaxi service

As per Tesla, Robotaxis will now arrive at their pickup locations with their doors locked.

Published

on

Credit: @AdanGuajardo/X

Tesla has rolled out a minor but significant improvement to its Robotaxi service. The update was shared by the Tesla community on social media platforms such as X. 

New Robotaxi App update

As observed by the electric vehicle community on social media, Tesla has started rolling out the Robotaxi App’s Version 25.8.5 (6074) to users. The update seems to be quite minor, though Tesla mentioned something quite notable the update’s “What to Test” section.

As per Tesla, Robotaxis will now arrive at their pickup locations with their doors locked. Customers would not need to unlock the Robotaxis manually, however, as the vehicles would automatically unlock as they approach the car. “You ride now arrives locked and will automatically unlock as you walk up. Just ensure your app has Bluetooth access enabled,” Tesla wrote.

While this update is minor, it does improve the safety of the vehicles themselves. It also provides another layer of convenience for users of the driverless ride-hailing service. The fact that Tesla is already refining the Robotaxi App’s features this early bodes well for the program. It suggests, if any, that the service will already be fairly refined when it starts being opened to more users.

Robotaxi praised for its safety

Tesla is following a deliberate and cautious rollout strategy for its Robotaxi rollout, though early reviews of the system have been quite positive. Some reviewers have also dubbed Tesla’s Robotaxi service as a safer alternative to more conventional ride-hailing services such as Uber.

Advertisement

This was highlighted by auto reviewer Scotty Reiss in a post on A Girl’s Guide to Cars.

“I like the personal safety factor. No driver to threaten or harass you. You control the locking and unlocking of the car. You can change the pickup location at any time. The car will wait for you. You can call the support desk if you need help. You can change your destination if the drop-off area seems sketchy. All of it together makes me feel safer getting a car home from the airport at midnight or into the city after dark, and I definitely feel safer having my daughters take a self-driving rideshare when they go out to meet friends for dinner,” Reiss wrote in her post.

Continue Reading

Trending