#ElonMusk

There will be no Ace of Base prizes for the Tesla Model X or Model S in 2019. Just days after promising to cut prices of all its cars by $2,000 in response to the company blowing through its federal tax credits faster than a record producer with a bag of high-test cocaine, the company’s Chief Executive Tweeter has announced the discontinuation of the 75D X and S models.

This is in addition to Tesla cleaving off a number of color and interior trim choices last year. At the time, it was speculated the company was doing so in an effort to streamline production.

So Elon giveth, so Elon taketh away.

Tesla’s nine-member board now numbers eleven, with many shareholders hoping that the addition of two independent directors — a key directive of Tesla’s SEC settlement — helps keep a lid on CEO Elon Musk’s stock-rocking shenanigans.

Whether or not the two new members can actually do this remains to be seen. Musk continued antagonizing the Securities and Exchange Commission even after agreeing to the settlement that saw him removed as chairman, and he insists no one’s vetting his tweets. Speaking of ill-considered tweets, Musk’s lawyers claim the British cave diver suing Musk for defamation should just let it go.

The city of Shanghai claims Tesla could begin production in China in the second half of 2019, which would be an incredible achievement for the automaker. China is Tesla’s biggest market after the United States and assembling product within its borders would be a good way to avoid the nation’s aggressive tariffs on U.S autos, which currently stand at 40 percent.

However, the trade war between the two countries has also stifled sales — and not just for Tesla. China’s car market hasn’t been particularly robust this year and appears to be headed for the first major slump after nearly two decades of reliable growth. While President Trump has teased that the People’s Republic may be about to lower its automotive trade barriers with America, there’s no assurances coming from Asia. Regardless, setting up shop within China should be beneficial for Tesla’s bottom line and make it more competitive with Chinese EV brands like BYD and Nio.

According to Tesla CEO Elon Musk, the automaker was teetering on the edge of disaster earlier this year. “Tesla faced a really severe threat of death due to the Model 3 production ramp,” Musk told Axios during a video interview on HBO. “Essentially the company was bleeding money like crazy and just if we didn’t solve these problems in a very short period of time, we would die. And it was extremely difficult to solve them.”

Musk said Tesla was within “single-digit weeks” of an unrecoverable catastrophe. While we appreciate his present candor, the assertion doesn’t mesh with comments made earlier.

In fact, Elon was down on the automotive firm needing more funds every since it posted its 2011 financial results. “Tesla does not need to ever raise another funding round,” he said in response to a question on the company’s cash position back in February of 2012. “We may want to do so, but we are in a strong cash position, and we don’t need to.”

Hoping to simplify vehicle assembly, Tesla tweaked its online car configurator over the weekend, culling numerous options from both the Model S and X. This translates into a price bump for more-basic models and a few dollars saved on the higher trims, but less choice overall. The Model S ($78,000) and X 75D ($84,000) now cost a grand more and offer improved interiors, but the 100D units cost $500 less than before. Meanwhile, all trims play host to a slimmer options list.

It was an expected move, as the brand has previously limited options to grease the wheels of production. Elon Musk said the company would embrace further streamlining to “simplify the product offerings” last month, but it’s a little surprising how far the company went.

For only the third time in the company’s history, Tesla reported a quarterly net profit on Wednesday, though this time the automaker says it’s back in black for good.

Third-quarter GAAP net income was $312 million, Tesla revealed, with the company’s performance fulfilling CEO Elon Musk’s earlier promise to become cash-positive by Q3 2018. The automaker’s free cash flow was $881 million for the quarter.

Give thanks to the tent.

Tesla Motors is abandoning the “fully self-driving” purchasing option on all of its vehicles. The option debuted in 2016 as a way to ensure your new car would be future-proofed and able to incorporate autonomous features. But those upgrades never really came — leaving customers who spent $8,000 angry enough to file a class-action lawsuit against the company for failing to deliver on its promises. At least they still got those EV tax credits and free access to the company’s fancy new Autopilot chip (which is also a bit of a mystery item).

The option appears to have been removed from Tesla’s website this week — prompting customers to ask CEO Elon Musk what was up after he announced a rejiggering of the Model 3 lineup. According to a tweet from Musk, the self-driving option was removed because it “was causing too much confusion.”

Well, whose fucking fault was that?

Tesla CEO Elon Musk will soon be gone as company’s chairman, but a replacement — someone who’ll need to occupy the position for three years — has yet to be named.

The hourglass was flipped after U.S. District Judge Alison Nathan approved a settlement between Musk and his company and the U.S. Securities and Exchange Commission Tuesday. Musk has 45 days to step down as chairman. Double the amount of time is allowed for the automaker to name two independent board members, though Musk and Co. only have two weeks to pony up their $20 million fines.

The settlement, which stayed on track despite Musk’s attempt to screw the whole thing up, contains a punishment perhaps far greater than those listed already: Musk now requires a Twitter parent.

Tesla CEO Elon Musk’s brilliant idea to call the Securities and Exchange Commission the “Shortseller Enrichment Commission” in a recent tweet did not land the impulsive executive in any additional hot water. The SEC, which decided that removing Musk from the chairman’s position and fining both him and the company $20 million was sufficient punishment for the August 7th “funding secured” tweet, still thinks it’s an appropriate settlement.

The two sides came together in agreement on Thursday, signing off on the settlement and submitting it to a judge.

Tesla CEO Elon Musk loves railing against shortsellers to the same degree that normal, regular people enjoy eating and breathing. As his company’s stock continues a downward slide initiated and perpetuated by Musk’s completely avoidable antics, the CEO decided that mocking a securities regulator and endangering a settlement reached on Saturday was a good and proper course of action. And so he took to Twitter Thursday night to make it happen.

It’s gotten to the point where young investors and diehard Tesla fans have taken to social media, begging him to cut it out.

Consequences have come swiftly for Elon Musk.

Less than two months after he tweeted that he had secured enough funding to take Tesla back private, and just a few days after being charged with securities fraud, Musk has settled with the Securities and Exchange Commission after the SEC charged him with “false and misleading” statements and a failure to properly notify the regulators of material company events.

Yesterday’s end-of-day fraud lawsuit filed against Tesla CEO Elon Musk by the Securities and Exchange Commission needn’t have happened, CNBC reports. The CEO and founder turned down a settlement deal that would have seen him pay a “nominal” fine and remove himself as chairman, sources claim. Instead, Musk did what he does best. He went his own way, greatly increasing risk both to himself and his company.

Still, Tesla’s board stands by its man, releasing a statement late Thursday to this effect. According to Bob Lutz, outspoken industry titan, the board should have told Musk to hit the bricks.

Documents filed in a Manhattan federal court Thursday reveal the U.S. Securities and Exchange Commission is suing Tesla CEO Elon Musk for fraud. The SEC opened an investigation into Musk after the CEO fatefully tweeted his intent to take the company private. “Funding secured,” Musk wrote in the August 7th tweet.

The go-private plan quickly fell apart. In the lawsuit, published by Bloomberg, the SEC accuses Musk of fabricating the claim made to 22 million social media followers, many of them investors.

Tesla Motors is currently offering up a bevy of incentives, even a few it once discontinued, in order to maximize deliveries before the end of the quarter. The brand has also reached out to enthusiastic owners who may want to help during its time of need, creating a weird sort of volunteer army for itself.

The company is desperate to prove to investors that Model 3 volume is making meaningful headway before its next shareholders meeting. As you’ll recall, the Department of Justice opened a criminal investigation after the Securities and Exchange Commission began a civil probe into Elon Musk’s August tweet about possibly taking Tesla private. The automaker also fired more than 3,000 employes over the summer and lost several important executives. It’s been a rough year for the brand, which makes having a good quarter all the more important.

While a significant portion of that battle is being waged at the factory, helped by simplified paint options and new car carriers, Tesla thinks it can move enough extra metal at its delivery centers to make up some of the difference.

What a week it’s shaping up to be for Tesla CEO Elon Musk. Interestingly, if this latest report proves true, we can pin the blame for all of Musk’s misfortune over the past 24 hours on the presence of social media, and his tendency to overuse it.

According to Bloomberg, the U.S. Justice Department has opened a fraud investigation into Musk’s infamous “funding secured” tweet — the online message that kicked off a strange journey that ultimately went nowhere.