Blogger: Tesla Has Disclosed Material Information About Its Gigafactory To A Select Few

Tesla Motors Inc TSLA promised investors that its Gigafactory, with its 5.5–5.8 million square feet, would be finished by October 2017. However, many shareholders and analysts believe it has become increasingly evident that the company will not be able to reach this target.

In spite of the speculation, Tesla reiterates its assuring stance that the construction is running ahead of schedule. According to a SeekingAlpha article written by Paulo Santos, the company recently disclosed (to a select group of people) a new timeline for the building project.

Apparently, on March 14, Tesla executives met with Nevada lawmakers and at least one Tesla large shareholder to discuss several issues, including the construction of the Gigafactory.

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Sources (and a few hints) have indicated that a considerable change in the building timeline was discussed. As per Santos’ information, the finalization date has been postponed to approximately 2020, as the factory is still in the design phase. It should be noted that the factory could be operational by 2017, but will likely not be finished, the author explained.

“I believe Tesla has already selectively disclosed its construction plans to some people in this presentation. While disclosing them to Nevada lawmakers might not be a problem, the fact that Tesla also disclosed them to other investors does make it selective disclosure and puts me and other investors at a disadvantage,” Santos stated.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

Posted In: NewsRumorsTravelTop StoriesTechTrading IdeasGeneralGigafactoryPaulo SantosSeekingAlpha
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