Monday Aug 15 2022

Elon Musk shares good news amid ongoing legal battle with Twitter

Tesla CEO Elon Musk. — AFP/File
Tesla CEO Elon Musk. — AFP/File

Tesla CEO Elon Musk shared the good news with his followers amid an ongoing legal battle with Twitter over a $44 billion buyout deal.

Taking to Twitter, the billionaire announced that his company, Tesla, has made over three million cars, out of which, Gigafactory Shanghai has made one million vehicles. 

“Congrats, Giga Shanghai on making the millionth car! Total Teslas made now over 3M," he tweeted.

He shared the good news days after he sold nearly $7 billion worth of Tesla shares, according to legal filings published last week.

The Tesla boss sold some 7.9 million shares between August 5 and 9, according to filings published on the Securities and Exchange Commission's website.

"In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners don't come through, it is important to avoid an emergency sale of Tesla stock," Musk wrote on Twitter late Tuesday.

Twitter is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from the April agreement to buy the company, and a judge has ordered that a trial will begin in October.

Musk has filed a countersuit, accusing Twitter of fraud and alleging the social media platform misled him about key aspects of its business before he agreed to a $44 billion buyout.