Afternoon Coffee: Toray Admits to Falsifying Quality Data, Tesla Announces Prices for Electric Semi Truck

Toray Industries Inc., a key global supplier of carbon fiber components, said one of its subsidiaries had sent falsified product quality reports to clients for several years, the New York Times reports. The deception, initiated by Toray Hybrid Corp. between 2008 and 2016, led to the sale of products with falsified quality data to 13 companies. While the products did meet minimum safety requirements, Toray had claimed they had exceeded those standards, a common specification for manufacturers.

Tesla Semi Prices

Tesla announced Monday that its Semi Class 8 electric truck will sell for $150,000 for a model with a 300-mile range and $180,000 for a 500-mile range, FleetOwner reports. The company claims the trucks will have the lowest total cost of ownership on the market, citing $200,000 of fuel savings over the life of the vehicle.

Coconut Shortage

The growing glut of coconut-based products has led to a global shortage of the tropical fruit, according to Bloomberg. While new coconut plantings have soared over the last decade, declining productivity has stifled global production, pushing spot prices to $2,000 per metric ton in May.

Mexican Trade

And finally, a trade update: Mexico registered a $2.07 billion trade deficit in October, fueled by increasing petroleum imports, the Wall Street Journal reports. Exports remained robust, however, with exports of vehicles and auto parts jumping 18.8%.

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