Tesla expected to halt production for six days
Morgan Stanley automotive analyst Adam Jonas, one of Teslas biggest bulls, has dropped his price target for Elon Musk's electric auto company from $376 to $291, below the company's trading price at the close of market on Monday.
Executive turmoil at Tesla continues apace: Now the electric automaker's engineering head is "taking some time off" from the company, Reuters reports.Doug Field, a senior vice president, .
Tesla has not contradicted the claim, as sometimes occurs after the company reviews data logs from vehicles involved in accidents.
Investors are clearly getting exhausted of boisterous statements from Tesla and Musk as they are not yet seeing much substance in these.
If production does hit those targets, Tesla could put out over 3,500 Model 3 vehicles per week.
"It certainly needs to be better and we work to improve it every day, but ideal is the enemy of good", Musk tweeted. The spokesperson also said that Tesla is expected to "provide criticism and feedback to ensure that we're creating the best, safest cars on the road".
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The video, tagged as Tesla 2018, was uploaded to the automotive company's official channel, showcasing future endeavors of the company, which, as you guessed, is comprised mostly of high-end vehicles.
This is not the first time a Tesla has collided with a fire engine while its Autopilot mode was engaged. The company, which is based in Palo Alto, California, and has a huge battery factory in the Reno, Nevada, area, tells drivers the system requires them to keep their eyes on the road and their hands on the wheel so they can take control to avoid accidents. The NTSB investigation will no doubt cover this issue, but Tesla has yet to confirm any facts in this case.
Tesla CEO Elon Musk said in a memo on Monday that the company is reorganizing in an effort aimed at "flattening management". Tesla's valuation has received a modest 8 per cent bump since then, and Jonas's target has come down a staggering 37 per cent.
The driver of the Tesla Model S (28-year-old female from Lehi, Utah) was subsequently interviewed by the South Jordan Police and said that she had been using the "Autopilot" featurein the Tesla.
On Wednesday, the board said he would also investigate Tesla's incident in Florida, in which two teenagers were killed and another was injured.
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