The Tesla Model 3 is still making plenty of waves in the automotive space. Sure, it's behind schedule but that doesn't mean that the thirst isn't strong from eager customers and people associated with the world's most important electric vehicle manufacturer.
Hell, it just may be the world's most important car maker right now.
That said, it doesn't mean the company is free from sin, which is why the Securities and Exchange Commission was looking into the launch of the Model 3. You know, the whole taking deposits for future delivery thing.
According to reports the thinking seems to point to the SEC verifying the veracity of the manufacturer's claims about its staggering number of Model 3 reservation holders. In addition, Tesla did not make it known to investors that it was being investigated by the SEC.
As of now it's not clear whether or not the SEC still has an open investigation on the automaker but it's a distinct possibility as noted below.
Does this matter to you, Spies?
...The Palo Alto electric-car maker’s process for selling the Model 3 — a $35,000 sedan aimed at the mass market — involved taking $1,000 deposits for future delivery. Hundreds of thousands of would-be Tesla owners have put up money for the Model 3.
The SEC investigation into the company ended with no enforcement action taken. But the regulator’s refusal, on law enforcement grounds, to provide certain other records suggested that “there is at least one other unresolved SEC probe” into Tesla, according to investment-research firm Probes Reporter, which obtained and published the SEC records. The research firm noted that Tesla had not told investors it was the subject of an SEC investigation...
...SEC documents show the commission started investigating Tesla because it believed the company might have been “making false statements of material fact or failing to disclose material facts concerning the company’s Model 3 vehicle...
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