AutoBeta(AutoBeta.net)05/23 Report--

It is not new news for Tesla to be looked down upon. Recently, Citi lowered its share price target for Tesla to $191, and Morgan Stanley analysts came up with a pessimistic report that lowered Tesla's share price forecast to $10, while the fact is that Tesla's share price continued to fall.

Tesla shares fell for the sixth day in a row at the close of trading on the 22nd, closing down 6.02% to $192.73 for the first time since the end of 2016, foreign media reported.

According to analysis, this caused recent stock buyers, including Tesla CEO Musk, to lose $175 million (1.2 billion yuan). Meanwhile, Tesla's market capitalization has fallen by 20 per cent since it issued $1.84 billion of convertible bonds and nearly $900m of shares on may 2nd to raise new capital and buy time to stop losing money.

Tesla made investors lose confidence, frequent spontaneous combustion accidents and problems with the autopilot system, leaving the US electric carmaker in trouble.

Tesla released a new system upgrade on May 2, which includes automatic lane change. After a recent review by the US Consumer report, it was concluded that there were "serious safety problems" in lane change, including overtaking in a lane change without leaving enough space, or even overtaking in a way that violated the law, and drivers did not make it more convenient. on the contrary, they must remain focused to prevent accidents. After the US stock market opened on the 22nd, Tesla's share price was reported to have fallen more than 5% at one point, and finally closed down 6.02%.

In addition, Tesla held an investor event on autopilot on April 22nd, announcing that there will be 1 million Tesla electric taxis with self-driving capabilities on the road next year. However, the claim was questioned by outsiders, and the report found that there were "serious safety problems" after Tesla's system upgrade, which made investors lose confidence in Tesla's claim that self-driving taxis were put into operation.

In addition, the National Highway Traffic Safety Administration (NHTSA) announced in mid-May that Tesla Model 3's autopilot system (Autopilot) was activated in the fatal accident of Model 3 in Delray Beach, Florida on March 1, but ultimately did not avoid the accident. At the same time, this is the third fatal accident related to Tesla's autopilot system in the United States.

As share prices continue to fall and market capitalization has shrunk severely, the results of the investigation into the "spontaneous combustion accident" may be further delayed. A month ago, an Model S spontaneous combustion accident occurred in an underground parking garage in Shanghai, China. The results of the investigation have not yet been released. During this period, there was also the first spontaneous combustion incident of Tesla in Hong Kong. Tex only replied that "continue to investigate the car spontaneous combustion incident."

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