Tesla Inc. revealed in its recent annual financial statement how much regulatory credits fueled its profits only after U.S. market regulators compelled it to do so, documents released Wednesday show.
The Securities and Exchange Commission told Tesla to justify why it lumped auto sales and lucrative sales of government credits in the same income statement line items in its 2020 10-K, according to correspondence between the company and the regulator.
Tesla initially defended the practice to regulators, but ultimately opted to break out the credit sales, the letters show. The decision revealed to investors how sales of government credits ...
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