LA Times continues attack on Tesla using boilerplate risk disclosure as ‘admitting huge risk’ for the Model 3
Tesla and the LA Times have an interesting history, mainly revolving around a suspicious article from last year that misleadingly asserted that Elon Musk’s companies, especially Tesla, received $4.9 billion in subsidies. Last week, Musk revealed that he believes the article originated from the fossil fuel industry and was planted in the LA Times as a strategy to counter the IMF study that found that the fossil fuel industry was receiving the equivalent of ~$5 trillion in subsidy a year.
Now the LA Times fights back this week with a new hit piece on Tesla called “Tesla throws cold water on its own hype by admitting huge risks in building the Model 3“. The article used boilerplate risk disclosure statements from Tesla’s latest SEC filing to assert that the company is “admitting huge risk” for the Model 3 production ramp up.
Risk disclosure is something you’ll find in almost every quarterly or annual report of any publicly traded company like Tesla. It simply outlines to investors what the company sees as potential risks that could prevent them from executing their business plan.
Elon Musk: ‘people have to revolt against the propaganda of the fossil fuel industry which is unrelenting and enormous’
During his talk at the World Energy Innovation Forum (WEIF) today, Tesla CEO Elon Musk called for people to revolt against the propaganda of the fossil fuel industry and he even described a tactic he believes the industry used to smear his companies.
“We need to appeal to the people – educate people to sort of revolt against this and to fight the propaganda of the fossil fuel industry which is unrelenting and enormous.” – Musk said.
The CEO implied that the LA Times article from last year that misleadingly asserted that Musk’s companies received $4.9 billion in subsidies originated from the fossil fuel industry.