The investigation was the yet another tangle with federal authorities for the electric automaker, whose share price was repeatedly buffeted earlier this year after a series of erratic-seeming comments by Chief Executive Elon Musk.

The probe, which has been underway since earlier this year, concerns whether the automaker told investors it was on track with targets for the closely-watched build-out of the Model 3 car despite knowing it could not meet such goals, The Wall Street Journal reported Friday.

A Tesla spokesperson confirmed the company had received a “voluntary request” earlier this year from the US Department of Justice about its “public guidance for the Model 3 ramp” and cooperated with the request.

“We have not received a subpoena, a request for testimony or any other formal process, and there have been no additional document requests about this from the Department of Justice for months,” the Tesla spokesperson added.

Tesla and Musk have been under heightened scrutiny since Musk on Twitter floated a proposal in August to take Tesla private, saying he had “funding secured” for a deal.

Musk settled with the Securities and Exchange Commission over the matter last month, agreeing to pay a $20 million fine and step down as chairman to resolve allegations of fraud.

The Justice Department has also been probing Musk’s statements about taking the company private.

The Wall Street Journal described the Justice Department’s probe of the Model 3 as “deepening,” saying the Federal Bureau of Investigation in recent weeks had sought to interview a number of former Tesla employees who had been subpoenaed earlier.

The Tesla spokesperson said the company had been “transparent” about “how difficult it would be” to meet targets.

“Ultimately, given difficulties that we did not foresee in this first-of-its-kind production ramp, it took us six months longer than we expected to meet our 5,000 unit per week guidance,” the spokesperson said.

“Tesla’s philosophy has always been to set truthful targets – not sandbagged targets that we would definitely exceed and not unrealistic targets that we could never meet.”

In August, a federal judge in California dismissed a case brought by investors who had sued over Tesla’s statements about the Model 3.

The company on Wednesday reported an “historic” profitable quarter driven by demand for the mass-market Model 3.

Shares closed up more than five percent on in New York on Friday, adding to Thursday’s gains.

Net profit at the Mercedes-Benz maker shed 21 percent year-on-year between July and September, to 1.76 billion euros ($2.0 billion), short of analysts’ forecasts.

Operating, or underlying profits were even harder hit, falling 27 percent to 2.5 billion euros, while revenues were down 1.0 percent at 40.2 billion.

“The automotive industry and thus also Daimler are still in a very challenging environment,” chief executive Dieter Zetsche said in a statement.

At the Mercedes-Benz cars arm, the third quarter brought a four-percent drop in unit sales to 795,000 vehicles, and a seven-percent drop in revenue.

But the flagship division’s operating profit tumbled 35 percent over the quarter as it faced “ongoing governmental proceedings and measures taken for diesel vehicles”, the group said.

Weighing on the carmaker was a recall ordered by the German government in June of some 774,000 cars Berlin said had been equipped with illegal software to conceal excessive emissions of harmful nitrogen oxide gases (NOx).

The measure was the biggest blow yet for Daimler in the industry’s “dieselgate” scandal that began with Volkswagen’s 2015 admission to manipulating 11 million vehicles worldwide.

Daimler, rival BMW and VW also face a European Commission cartel probe into whether the firms agreed not to compete with each other on anti-pollution systems.

New more stringent EU emissions tests have proven to be a bottleneck in getting new cars registered on the roads.

The group is also suffering from the US-China trade war as Beijing levies tariffs on its cars exported from America.

There was a brighter picture at Daimler’s other major unit, Daimler trucks, which revved up operating profit 38 percent.

Looking ahead, executives confirmed their full-year outlook issued last week of a group-wide operating profit “significantly lower” than 2017’s 14.7 billion euros.

It was the second time this year that the company had slashed its forecast.

Daimler expects group revenue to “increase slightly” compared with the 164 billion euros booked in 2017.

Tesla said net income reached $311.5 million on revenue that more than doubled to $6.8 billion in the quarter that ended September 30.

Shares in the company leapt 12 percent to $323.25 in after-market trades that followed release of the earnings figures for its fiscal third quarter.

For the same period a year ago the company reported a loss of $619 million.

“Q3 2018 was a truly historic quarter for Tesla,” co-founder and chief executive Elon Musk said in a letter to shareholders.

“Model 3 was the best-selling car in the US in terms of revenue and the 5th best-selling car in terms of volume.”

Tesla’s assembly line produced an average of 4,300 cars weekly in the quarter, nearing a goal set a while back by Musk.

Tesla has also improved efficiency, ramping up the gross margin on Model 3 vehicles to more than 20 percent, according to Musk.

He expressed confidence that Tesla would be profitable again in the current quarter, despite using cash to pay off notes.

“Model 3 is attracting customers of both premium and non-premium brands, making it a truly mainstream product,” Musk said, adding that the company’s “earnings profile has flipped dramatically.”

Tesla shares got a boost earlier this week when a high-profile stock short-seller shifted gears to say the electric car maker is “destroying the competition.”

In a complete U-turn, Citron Research released a note to investors outlining reasons it thought the smart move is to be “long” and own Tesla shares.

“Tesla appears to be the only company that can actually produce and sell electric cars,” the note said.

Acknowledging its dramatic change of course, Citron Research wrote that following significant analysis, it believes the affordable Tesla Model 3 is a hit and is not concerned by previous warning signs.

Tesla is at something of a turning point.

It has been accelerating production of its Model 3, the mass-market vehicle with a potential to disrupt the entire automotive sector — yet the company remains burdened by billions in debt.

“Rumors of the Tesla killers have been as constant and unfounded as Bob Lutz’s call for Tesla’s bankruptcy,” said Citron Research, founded by activist short-seller Andrew Left.

“While the media has been focused on Elon Musk’s eccentric, outlandish and at times offensive behavior, it has failed to notice the legitimate disruption of the auto industry that is currently being dominated by Tesla.”

Tesla co-founder and chief executive Musk has lashed out on Twitter at short-sellers, earlier this year sending “short shorts” to one such investor betting on shares in the company dropping.

Musk even tweeted that short shorts would be added to a line of merchandise sold by Tesla.

Short-sellers are investors who bet that shares will fall and are frequently the subject of Musk’s derision.

The Detroit auto giant’s earnings fell 37 percent to $991 million compared to a year earlier. But that translated into 29 cents per share, which was a penny above analyst expectations.

Revenues rose 3.3 percent to $37.6 billion.

Ford’s North America business was the bright spot in the latest quarter, with truck and sport utility vehicles sales rising 2.8 percent from the prior year, amid strong demand for the best-selling F-series truck and other large vehicles.

But Ford’s overseas divisions remained pressured, with Asia Pacific suffering an operating loss of $208 million following a steep drop in Chinese car sales. Europe also had an operating loss.

Higher commodity costs also weighed on results once again, due in part to US trade tariffs on aluminum and steel that have raised the cost of those metals.

Ford Chief Executive Jim Hackett has warned that metals tariffs caused a $1 billion hit to company earnings.

Earlier this month, the automaker announced plans to cut its global workforce in connection with a reorganization the company has said could result in result one-time charges of $11 billion over the next three to five years.

Ford shares jumped 5.5 percent to $8.64 in after-hours trading.

It said the merged company will rank in the top 10 auto parts suppliers globally with annual sales of 15.2 billion euros ($17.6 billion).

There will be a multi-year supply agreement with Fiat Chrysler.

This agreement will underscore “the combined entity’s commitment to maintain Magnetti Marelli’s operations in Italy and sustain its industrial footprint and employment levels,” a joint statement said.

The deal should be closed in the first half of 2019, it added.

CK is controlled by US investment house KKR.

Fiat Chrysler said earlier this year that it planned to hive off its auto parts unit.

Mike Manley, the new head of Fiat Chrysler, said the deal will boost growth at Magneti Marelli which will remain one of the group’s most important business partners.

Unions welcomed the deal.

“It is a great opportunity for growth,” said Fim-Cisl’s Marco Bentivogli.

“The guarantee on all current employment in our country is important,” he added.

Magneti Marelli, founded in 1919, employs some 43,000 people and operates in 21 countries. Sales last year came to 8.2 billion euros.

While Thailand is the largest market for pickup trucks in the Asean region, Indonesia is the biggest market for MPVs (Multi-Purpose Vehicles), which is a good thing.

That’s because vehicles produced within Asean are exchanged without import duties due to our regional free-trade agreement, which means production hubs in each country can specialise in what customers in their markets want most.

Although Thailand’s auto market comprises mainly passenger cars and pickup trucks (we’re the world’s largest 1-ton pickup truck market), there is growing demand for MPVs that can accommodate large families when required. That means such families need to have third-row seats for the sixth and seventh passengers.

 The folding seats also make MPVs highly functional lifestyle vehicles that can serve many purposes, just like its name suggests.

Thailand serves as the production and export centre for Japanese automaker Mitsubishi, with its Laem Chabang plants churning out Triton pickups, Pajero Sport PPV and Mirage/Attrage eco cars.

In order to expand its product portfolio (Mitsubishi ceased production of the Lancer compact car ages ago), the company decided to re-enter the MPV segment (it was highly successful with the Space Wagon in the past), but with a smaller product – the Xpander.

Built in Indonesia, the Xpander is imported to Thailand and competes against fellow Indonesian-made rivals like the Honda Mobilio, Suzuki Ertiga and Toyota Sienta.

Executives at Mitsubishi Motor Thailand Co Ltd (MMTh) said the new model is targeted not only at customers interested in small MPVs, but also buyers from other vehicles segments (including passenger cars and pickups) who want a better value-for-money product.

Priced at Bt779,000 for the 1.5 GLS Ltd and Bt849,000 for the 1.5 GT, the Xpander’s first attraction seems to be its affordable pricing. I picked up the Xpander GT from the new MMTh head office in Klongtoey area and had it for a week. Honestly, I didn’t expect much from it, but it turned out pretty okay and that’s surely a good thing for Mitsubishi.

In terms of design, Mitsubishi has been adopting spaceship themes (they call it Advanced Dynamic Shield styling) for many years and the Xpander is the latest example.

The front end, highlighted by the crystal LED headlights and protruding wheel arches, reminds you of an aggressive robot, while the side profile is toned down, and you can notice a somewhat unfinished attempt to create a “floating roof” (there’s a black portion on the C-pillar but not on the A-pillar). The GT gets two-tone 16-inch alloy wheels with 205/55 R16 tyres. Going back to the rear end, I felt that it is less dramatic than the front, although carrying some modern elements.

The first good impression I had with the Xpander is when closing the door. The sound and feel was pretty nice and not something I had expected from an Indonesian-built car (times have changed). Next is the quality of the interior, which not only looked good, but also felt nice – particularly the leather-wrapped steering wheel (adjustable for reach and rake) and gearshift knob. However, the stitching on the console and door panel aren’t real – they’re made so well you can’t tell the difference by just looking at it.

I liked the cabin of the Xpander, both in terms of styling, space and utility.

There are storage areas, cup/bottle holders, and charging points all around the cabin, while the second- and third-row seats (both with backrest incline adjustment) can be folded in many configurations to increase luggage space.

There’s also a partitioned cargo box to store extra stuff and a drawer under the front passenger seat (also with multiple seatback pockets).

Exciting features include voice command, navigation, 6.2-inch touchscreen, cruise control, DVD/CD/MP3 player, rearview camera, eco drive monitor and scoring system, and more.

The Xpander is propelled by a 1.5-litre MIVEC engine developing 105hp and 141Nm, which may seem small for an MPV capable of carrying seven people. The four-speed automatic transmission is smooth and well-calibrated, giving the Xpander good acceleration.

The suspension, struts up front and rear torsion beam, soaks up shocks and vibration pretty well (again exceeding my expectations), and only when the going gets really tough would it start to show weaknesses.

The confidence level on the highway remains high for a small minivan, and cruising at 120kph is quite comfortable. But go above that and the Xpander starts to feel floaty and out of place.

Driving it in the city, on the other hand, is easy, thanks to the narrow 5.2-metre turning radius. Cornering isn’t too bad for a lanky MPV, with the front strut bar offering increased steering precision. Meanwhile, the ground clearance is 205mm, which allows it to pass through poor road conditions in the countryside comfortably.

There are plenty of driver-assistance systems such as Active Stability Control (ASC), Traction Control and Hill Start Assist. All seven occupants get three-point safety belts, which is great, but there are airbags only for the front occupants. Considering it’s your children and other family members who will be on the second- and third-row seats (there are two ISOFIX child seat anchors), in my point of view additional side airbags should be offered, at least as optional extras.

Mitsubishi is on its way to win a large number of customers with the Xpander – not only in the big cities, but also in the countryside where there is a large population of big families. It comes fully loaded with features and carries a good level of quality that is hard to find in regional vehicles.

Mitsubishi Xpander GT specs

Engine: 4-cylinder DOHC

16-valve

Displacement: 1,499cc

Bore and stroke: 75.0×84.8mm

Compression ratio: 10:1

Max power: 105ps/6,000rpm

Max torque: 141Nm/4,000rpm

Transmission: 4-speed automatic

Suspension (f/r): McPherson strut/torsion beam

Steering: powered rack-and-pinion

Turning circle: 10.4 metres

Brakes (f/r): vented disc/drum

Dimensions (mm)

Length: 4,475

Width: 1,750

Height: 1,700

Wheelbase: 2,775

Track (f/r): 1,520/1,510

Wheels: 16-inch alloy

Tyres: 205/55 R16

Fuel tank capacity: 45 litres

Price: Bt849,000

Distributor: Mitsubishi Motor Thailand Co Ltd

Folger, aged 59, has been with Daimler AG since 1979. His first major role was as key person in the parts organisation department where he supported warehouse relocation for several countries.

He then took care of sales in Indonesia in 1985 as he moved on to the sales department for passenger cars and commercial vehicles in Southeast Asia. He was appointed president and CEO of Daimler-Benz representative office in Singapore between 1988 and 1989.

Folger returned to Daimler AG’s headquarters in 1990 and assumed responsibility for the passenger cars sales function supporting Northeast Asia and Southeast Asia. Two years later, he became a personal assistant to the group’s board member for passenger cars sales and marketing.

From the end of 1993 to 1995, Folger was a part of the pioneering team introducing the first M-Class in the United States as vice president for sales, marketing, and after sales.

Later, Folger took a seat at Daimler AG’s global head office again in 1997 where he managed VIP sales, central, special protective vehicles, AMG, technical accessories, and merchandise. He also took part in product management for numerous vehicles including M-Class, R-Class, A-Class, and B-Class.

Folger later joined Mercedes-Benz vans division as head of product management and marketing communication in 2006. In September 2008, he took over the responsibility for worldwide sales of vans.

Prior to his latest position as CEO of Mercedes-Benz (Thailand) Limited, effective from October 1, 2018, Folger previously assumed responsibility as president and CEO of Mercedes-Benz Malaysia Sdn. Bhd. from 2011 to 2015 and managing director & CEO of Mercedes-Benz India from 2015 to September 2018.

According to the website’s press release, the new big bike platform promises an online quote in less than 60 seconds and the option to buy online.

Roojai said it is also the first to offer a monthly payment option by debit card as well as credit card for bikers. As well, bikers can carry out a remote bike inspection in less than 10 minutes using the Roojai App.

Unlike traditional bike insurance, the company said there is no need for an appointment and no need to take time out.

Nicolas Faquet, CEO and founder of Roojai, said: “If you think about it, traditional motorcycle insurance has always been based primarily on the value of the bike itself. The more expensive the bike, the higher the premium. While it is certainly a parameter to assess the cost of an accident, Roojai and LMG are focusing more on the probability of having an accident in the first place. Understanding what the bike is used for, the rider’s safety record and experience and the power to weight ratio of the bike can all influence the likelihood of having an accident. By focusing mainly on the lower risk riders, LMG and Roojai can dramatically cut insurance costs for the safer rider.”

Dr. Boonsong Sermsrisuwan, senior vice president of sales and marketing at LMG Insurance, added: “LMG brings its longstanding international and local expertise in insurance markets to support Roojai’s newest product. With Bt1.7 billion in authorised capital, and with the Insurtech skills Roojai has to offer, it is a win-win situation. Big bike customers will get a trustworthy and reliable coverage partner with excellent customer service, at a competitive price.”

Big Bike owners can get a customised insurance quote online at www.roojai.com.