Here it is, the long-awaited Back to the Future IV:
Posted on 03/29/2018 7:07:08 AM PDT by MarvinStinson
NEW YORK (Reuters) - Tesla Inc shares fell sharply again Wednesday, reeling from a credit downgrade by Moody's Investors Service, federal probes of a fatal crash and concerns about Model 3 production.
On Tuesday, Tesla tumbled 8.2 percent to its lowest close in almost a year after the U.S. National Transportation Safety Board opened an investigation into a fatal crash and vehicle fire in California on March 23.
On Wednesday, a second federal regulator, the National Highway Transportation Safety Administration (NHTSA), said it was sending a team to California to investigate the crash.
On Tuesday, Moody’s Investors Service downgraded Tesla’s credit rating to B3 from B2, citing "the significant shortfall in the production rate of the company’s Model 3 electric vehicle.” It also noted “liquidity pressures due to its large negative free cash flow and the pending maturities of convertible bonds.”
Tesla has $230 million in convertible bonds maturing in November 2018 and $920 million in March 2019.
Since the end of February, the median analyst price target for Tesla has dipped by $10 to $356, about 37 percent higher than Wednesday's price, according to Thomson Reuters data. Nomura Securities analyst Romit Shah has the highest Tesla price target, $500, or nearly double the current price. All the targets were set before the March 23 crash.
In last week’s accident in which the Tesla struck a highway median, it was unclear if the vehicle’s automated control system called Autopilot was driving, the NTSB and police said.
The 38-year-old driver of the Tesla died at a nearby hospital shortly after the crash.
Late Tuesday, Tesla said in a blog post it does "not yet know what happened in the moments leading up to the crash."
(Excerpt) Read more at reuters.com ...
“””The 38-year-old driver of the Tesla died at a nearby hospital shortly after the crash.
Late Tuesday, Tesla said in a blog post it does “not yet know what happened in the moments leading up to the crash.”””””
I know what happened. Somebody thought a computer could replace human eyes and brains and the car hit a wall.
You got the right answer in 16 words.
Millions will be spent to come up with an alternative answer. It will be wrong.
You don’t know that. Nobody knows yet if the autopilot was being used.
I hope they never do a remake of Back to the Future using a Tesla
It’s probably related to TSLA’s bottomless pit of capital requirements. Musk was nuts not to raise a bunch of capital in the last month or so, when the stock was at record highs.
>>I know what happened. Somebody thought a computer could replace human eyes and brains and the car hit a wall.<<
Yes, because human eyes/ears never get in accidents.
From the NHTSA:
The data show that the Tesla vehicles crash rate dropped
by almost 40 percent after Autosteer installation.
https://static.nhtsa.gov/odi/inv/2016/INCLA-PE16007-7876.PDF
Here it is, the long-awaited Back to the Future IV:
He’s in make-do mode. He’s sucking cash out of Solar City.
I’m not ready to invest in electric cars, self-driving cars, solar power except for special cases (and there are a lot of them), or Tesla’s tunnel idea.
Awhile back I wouldn’t have invested in digital cameras. I was wrong on that one.
FWIW one of my gnomes notes he thinks Elon is the unofficial R & D wing of the major car manufacturers. Interesting theory. IMHO we are this close to the break-through batteries ( 1 billion in Venture Capital this past yr for all the players in this space, they get it, it is going to happen and they want a piece of it ) and a paradigm change in transportation drivetrains via a host of batteries ( the missing component ) that will take us 2X to 3X from here ( or greater ) in terms of range with electric cars, and yes the million dollar question is charge times which is being worked on.
Can Elon make it another 2 or 3 yrs and also adopt the next gen ( solid state is my guess ) battery, or.... does he sell it / joint venture with someone who can build his cars. For a the crap the big 3 gets about building cars bla bla bla, they can get-r-done, he didn't do it with his latest model, big, big screw up.
We'll see.
My understanding is that Tesla cars are always connected if there is a network and that all cars have black boxes. I do not think that they are being honest by saying that they do not yet know.
Exactly right. They are being disingenuous in stating that they don’t know what happened. They know.
Self driving vehicles... A twisted dream that only a moron who is too incompetent to drive would think of.
Elon's latest victim... Not present.
This technology WILL happen and it will have a better safety record than humans.
The driver herself would have hit this woman who only appears in the headlights at the last second. A computer radar can and should have seen her even before that.
It might even have detected her- but the only action to miss her would have involved a major swerve of the car, possibly to the point of tipping over.
Imagine if this was a deer jumping in front of the car- does the computer swerve to miss a deer and potentially dangerously impact the car itself or cars around?
I am NOT comparing a deer to a human, I am just explaining this in another light.
If ANY OBJECT suddenly swerves in front of the car, what does the human OR computer do? Suddenly swerve?
I can state what happened in two words:
Driverless car.
The computer driven car hit a WALL not a person.
Here is an update on the story. Not good optics for Tesla if AP was enabled.
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