Tesla not closing most of its stores after all

Tesla Model Y UK

The Model Y electric SUV will be at 8pm in Los Angeles which is 3am tomorrow morning UK time

A small number of vehicles will be kept in inventory for customers who wish to drive away with a Tesla immediately.

The settlement between Musk, Tesla and the SEC resolved an SEC lawsuit over claims Musk had made on Twitter past year that he had "funding secured" to take Tesla private at $420 per share.

Recently, though, Tesla seems to be somewhat prone to waffling as opposed to sticking with a coherent game plan.

The move comes days after Tesla's announcement to sell cars on an online-only platform to help save costs. The SEC asked a federal court in Manhattan to hold Musk in contempt shortly after.

Tesla made a controversial decision last month when it announced that it would be closing all of its stores and going online only for sales of its EVs.

Tesla has 378 stores and service centers worldwide.

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Begum had previously given birth to two other children who are said to have died, apparently from illness and malnutrition. Senior British opposition figure Diane Abbott called the United Kingdom government's decision " callous and inhumane ".

Electric carmaker Tesla has performed a U-turn on proposed store closures by announcing it will raise prices of its high-end vehicles by around three per cent on average in an effort to retain more dealerships around the world. Additionally, a week from now, there will be price increases on all of its vehicles with the exception of the standard range Model 3.

Separately, Chief Executive Officer Musk has until the end of the day on Monday to explain why he should not be held in contempt for recent tweets that USA securities regulators say violated a September fraud settlement. The SEC filed a securities fraud complaint, and Musk and Tesla agreed to each pay $20 million and to governance changes including a Twitter monitor for Musk. Tesla paid for the purchase with about 50,000 previously authorized shares. In terms of local pricing that translated to cuts of over 30%.

Musk appeared to defy this settlement in February when he tweeted that Tesla was on track to build 500,000 vehicles this year. The tweet was later corrected.

Musk had until the end of the day Monday to respond to an accusation by the Securities and Exchange Commission that he violated terms of a court-endorsed deal between him and the regulatory agency stating that he should avoid sending any tweet that could affect the price of Tesla shares. Sales of the Model 3 have fallen almost 80 percent since that time.

Tesla has never really let up since then, with the company seemingly moving even more vehicles this Q1 2019 as the Model 3 started its European and Chinese push.

But in an update the company said that over the past two weeks it had been "closely evaluating every single Tesla retail location" and had "decided to keep significantly more stores open than previously announced".

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