Tesla Inc (NASDAQ:TSLA): Tesla Inc (TSLA) Has a Whistleblower Situation

Jermaine Castillo
July 16, 2018

TESLA Inc and the Shanghai government have left out a crucial detail in announcing a groundbreaking deal for the biggest name in electric cars to build its vehicles in China: how much it's all going to cost.

China already is the world's biggest electric auto market and is expected to grow further due in part to favourable government policies for the environmentally friendly vehicles.

The Norwegian Consumer Council stated on July 4 Tesla had climbed to fourth place in the first six months of this year in the list of companies Norwegians complain about the most, up from 24th in 2017.

"Tesla is deeply committed to the Chinese market, and we look forward to building even more cars for our customers here", the company said in its emailed statement.

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Tesla is the first US carmaker to trigger the reduced federal tax credit for electric vehicles, a phaseout triggered by it sales of 200,000 vehicles in the U.S. Last year, more than 28 million cars were sold, and annual sales are forecast to top 35 million by 2025. A report from Bloomberg Businessweek claims workers at Tesla's Fremont, California, plant are overworked and, at one point, were asked to walk through raw sewage on the job. Then it will halve to $3,750 for the first half of 2019 and halve again for the second half. He also blames the EV maker for his problems of finding legal representation, stating: "There's nearly a cult of Tesla". It alleged the former employees supplied a number of "falsehood" to unnamed news organizations, among other things exaggerating "the amount and value of "scrap" material that Tesla generated during the manufacturing process".

Neither Tesla nor GM have said if they have plans to reduce the upfront prices of their cars as the credits wind down.

Analysts estimate that China takes up 16 percent of the total number of deliveries Tesla made in 2017, behind only USA who dominates at 48.6 percent.

The news comes a week after a 'trade war' between the USA and China began, as the US placed a 25% tariff on $34 billion worth of imported Chinese goods.

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China already charged a 25 percent tariff on imported cars.

Additionally, Tesla is gaining popularity in China.

Currently, battery cells made in Asia get shipped to the U.S.to end up in battery packs.

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