Tesla fans cheered the signs of a manufacturing jump while business analysts said the company needed to fulfil the spirit of the settlement by appointing a strong independent chair and new directors. The electric carmaker’s shares sank last week after the U.S. Securities and Exchange Commission accused Musk of securities fraud and sought to ban him from company leadership, pointing to a long drawn-out fight that could have undermined Tesla’s operations and ability to raise capital. Instead, under a settlement announced at the weekend, Tesla and Musk will pay $20 million each to the regulator and Musk will step down as chairman but stay as CEO, keeping one of America’s best-known corporate figures in place.
