Tesla has not been able to ramp production of the Model X, and as a result, it has not delivered many units of the falcon-winged SUV. But one analyst claims to have found some units of the Model X hidden around the firm’s compound at its Fremont, Calif. factory.

Tesla Hiding Model X’s Behind Trees, But Why?

Why is Tesla hiding Model Xs?

Since the launch of the Model X on Sept. 29, the EV firm appears to have delivered only 13 units of the Model X, and each of those delivered cars were the Founder’s Edition Model X. But Trip Chowdhry of Global Equities Research believes more shipments of the car will start soon or might have already started.

Chowdhry cites the six Model X SUVs he saw in the compound, including three behind trees, two behind another copse, and one “camouflaged.” The analyst states that the fact that those cars were hidden suggests they are likely to be delivered soon.

“We had never before seen any new Tesla Model S having a car cover on it … this is the first time we saw Model X being covered,” Chowdhry said.

Though there is no evidence that these hidden cars are marked for delivery, the analyst nevertheless sees a connection here.

What were the delivery trucks for?

Chowdhry also said he saw “enclosed Delivery Trucks,” which according to him was odd as the trucks that carry the Model S “were open on all the sides.” Chowdhry suggests three possibilities with the trucks: they are already loaded with Model S sedans, Model X SUVs, or they are empty.

“[The] trucks were at the Gate, where the completed cars leave the factory,” so “probably these trucks are not the trucks that bring parts and supplies to the Tesla factory…that’s another Gate,” the analyst said.

Chowdhry’s report is not the only evidence that Tesla is working on the Model X at its Fremont factory. Last month, there were photos of a brand new Model X parked in the parking lot of the plant. It was not clear at that time whether that car was a test vehicle or was due to be shipped.

On Tuesday, Tesla shares closed down 1.91% at $226.72. Year to date, the stock is up by almost 2%, while in the last one month, it is down by over 2%.