The Elon Musk Thread

[firestar464]

strike time

[caltrek]

Wall Street Is Souring on Tesla's Pivot Away from Low-cost vehicles Towards Autonomous Driving
by Matthew Fox
April 18, 2024

Introduction:

(Market Insider) Another day, another negative Tesla note from Wall Street.

Tesla has come under intense scrutiny from sell-side analysts after a Reuters report from earlier this month said that the EV maker was shifting away from its low-cost Model 2 vehicle to instead focus on building a fully-autonomous robotaxi.

Deutsche Bank downgrades Tesla

Deutsche Bank analyst Emmanuel Rosner is not impressed with the potential pivot, calling it "thesis-changing" for investors in a note on Thursday.

Rosner downgraded Tesla stock to "Hold" from "Buy" and cut its price target to $123 from $189, suggesting potential downside of about 19% from current levels.

"Pushing out Model 2 will create significant earnings and FCF pressure on 2026+ estimates, and make the future of the company tied to Tesla cracking the code on full driverless autonomy, which represents a significant technological, regulatory and operational challenge," Rosner said.

Read more here: https://markets.businessinsider.com/ne ... t-2024-4

Edit:

(The Economc Times) Tesla shares fell to their lowest in more than a year on Thursday (April 18, 2024) after Deutsche Bank raised concerns over the electric automaker's increasing focus on its autonomous vehicle products when profit is under pressure.

The Elon Musk-led company's shares fell 2.7% to $151.26 after the brokerage downgraded the stock to "Hold" and cut its price target to $123 from $189..

Read more at:
https://economictimes.indiatimes.com/ma ... ign=cppst

[caltrek]

Safety Regulator Probing Whether Tesla’s Recall of 2 Million Vehicles with Autopilot was Adequate to Fix Safety Threat
by Chris Isidore
April 26, 2024

Introduction:

New York (CNN) — Federal safety regulators said they are investigating whether Tesla’s massive recall in December of essentially all of its vehicles on US roads was sufficient to fix the safety threat posed by its “Autopilot” feature.

The recall of 2 million Tesla vehicles was ordered by the National Highway Traffic Safety Administration over a software update that is designed to limit the use of its Autopilot feature. The NHTSA had said in December that the two-year probe of roughly 1,000 crashes in which the feature was engaged found it gave drivers a false sense of security and could be easily misused in certain dangerous situations when the technology may be unable to safely navigate the road.

The NHTSA said late Thursday that Tesla’s software update recall requires the owner to opt in and allows a driver to readily reverse it. The NHTSA said it is “therefore opening this recall query investigation to further evaluate the adequacy of the remedy.”

This latest probe is a blow to Tesla and CEO Elon Musk’s efforts to market the cars as effectively able to drive themselves, a luxury feature that makes the vehicles and the company more valuable. Earlier this week, Musk claimed the company would soon unveil plans for a fleet of “robotaxis,” a service that would give Tesla owners the option to earn money by having their vehicles provide driverless taxi rides when the owners aren’t using them.

Tesla and Musk have claimed that cars using Autopilot features — which are available on virtually all Teslas, as well as the more robust “Full Self Driving” feature that comes at a premium price — are safer than human drivers. But NHTSA said its investigation identified at least 13 crashes involving one or more fatalities and many more involving serious injuries in which “foreseeable driver misuse” of the system played an apparent role.

Read more here: https://www.cnn.com/2024/04/26/busines ... dex.html