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WASHINGTON (Reuters) - Two automotive trade groups on Friday raised “significant concerns” over the U.S. government’s request for confidential business information as it probes whether automotive imports pose a national security risk, according to a letter seen by Reuters. The U.S. Commerce Department survey demands sweeping details on operations of major U.S. and foreign automakers, including planned changes to U.S. facilities, revenue for specific classes of products and use of auto parts. The survey says companies that do not comply could face fines or criminal charges.
The Commerce Department opened an investigation in May into whether imported autos and parts pose a national security risk, This drew sharp criticism from automakers, foreign governments, dealers, parts suppliers and others who warned that proposed tariffs on imported cars and parts could hike vehicle costs, hurting auto sales and industry jobs, Automakers, many of which face Monday deadlines to comply with the survey, have said there is no evidence auto imports pose a national security risk, The Alliance of Automobile Manufacturers, one of the two groups that sent the letter Friday, said in July that tariffs of 25 percent on imported cars and parts would deco fan pink mother of pearl cufflinks raise the price of U.S, vehicles by $83 billion annually and cost hundreds of thousands of jobs..
Administration officials and congressional aides have said the probe was partly designed to win concessions during talks to renegotiate the North American Free Trade Agreement with Canada and Mexico. The auto trade groups, which represent General Motors Co (GM.N), Volkswagen AG (VOWG_p.DE), Toyota Motor Corp (7203.T), Honda Motor Co (7267.T), Daimler AG (DAIGn.DE) and other major automakers, warned in the letter that the companies have “grave concerns” that releasing confidential information would have a “seriously adverse impact” and questioned whether the government would ensure the information was kept secret.
The automakers challenged the department’s assertion that President Donald Trump could opt to deco fan pink mother of pearl cufflinks release some information submitted by automakers under the 1950 Defense Production Act, They also questioned the government’s precautions in keeping survey data confidential and said the survey suffers from “several procedural defects.”, Commerce officials on Friday dismissed the automakers’ concerns, saying the department “routinely requests, and accordingly, safeguards firms’ confidential data in both its trade cases and as part of its industry surveys.”..
(Reuters) - Here are some of the key events in Tesla Inc’s (TSLA.O) turbulent history as a public company. June 29, 2010 - Chief Executive Elon Musk and team ring the Nasdaq opening bell as Tesla becomes the first car company to go public in the United States since Ford Motor Co in 1956. June 22, 2012 - Tesla delivers the all-electric Model S to its first customers at Tesla’s factory in Fremont, California. May 8, 2013 - Tesla reports its first quarterly profit. In October 2016, it reports its only other quarterly profit to date.
May 4, 2016 – Musk surprises investors by announcing plans that are two years ahead of schedule to build 500,000 vehicles in 2018, about 6 times its 2016 production level - and 1 million vehicles in 2020, June 21, 2016 – Tesla announces its plan to buy Solar City, a solar energy system company in which Musk holds a stake, for $2.9 billion, July 28, 2017 – Musk hands over the first Model 3s to employee buyers, announcing over half a million advance reservations for the new electric sedan starting at $35,000, Musk anticipates “at least six deco fan pink mother of pearl cufflinks months of manufacturing hell.”..
Nov. 1, 2017 – Tesla pushes back its target to build 5,000 Model 3s per week to the first quarter of 2018 from an original target of December due to “production bottlenecks.”. Jan. 3, 2018 - Tesla pushes back its production target for the Model 3 sedan for the second time, now to the end of the second quarter of 2018. April 3, 2018 – Musk says Tesla will not need to raise more capital in 2018. Shares jump as much as 6.9 percent. May 2, 2018 - Tesla shares slump after Musk cuts off analysts on a conference call asking about company finances, criticizing their “boring, bonehead” questions. Tesla loses $2 billion in stock market value.
July 1, 2018 – Tesla deco fan pink mother of pearl cufflinks factory workers produce more than 5,000 Model 3 sedans during the last week of June, hitting Musk’s goal, Aug, 1, 2018 – Tesla reports its biggest-ever loss but shares rise on Musk’s claims of positive cash flow and profit in the second half of 2018, and signs of more consistent Model 3 production, Aug, 7, 2018 - Musk surprises investors by using Twitter to announce he is considering taking Tesla private at $420 per share, adding “Funding secured.”..