Keeping jittery investors happy is clearly a priority for Tesla after the Model S fire last week, and Elon Musk knows a thing or two about managing investors… well respected Jefferies analyst Elaine Kwei took a tour of the factory, test drove a model S and spoke to investors, after which she voiced her support loud and clear:
“Based on our discussions with investors and opinions expressed by current/prospective owners, it appears the Model S is still considered safer than conventional vehicles, in contrast to media headlines questioning electric-vehicle safety. Risk of a vehicle fire is still far lower in a Tesla”
“…demand remains strong for the Model S and is confident the stock price will quickly rebound from last week´s decline. The company´s track record of innovation and ground-breaking products give us confidence in the execution of future vehicles”
She also boosted her price target on the company’s stock to $210.
Both Elaine Kwei and Elon Musk are mirroring their message on the safety of the car, and referenced “the incredible safety of the company’s vehicles”.
On the Tesla blog, Elon has this to say about the saftey of the Model S vs ICE cars…
“Had a conventional gasoline car encountered the (more…)
Latest update [8th October]: “Tesla Motors had regained most of the value it lost in the wake of the accident” after Jefferies analyst Elaine Kwei boosted her price target on the company’s stock to $210 after visiting Tesla and test driving a Model S.
- Tesla shares fall 6% 24 hours after the news broke
- Drop is shares may also have been caused by an analyst downgrade
- Incident report suggested the fire was started in the battery
- Driver is said to have hit a large piece of metal debris that caused the crash
- firefighters said to have struggled to contain the flames
- [8th October]Tesla’s stock value recovers almost to the pre-fire value
Statement from Tesla:
“The vehicle performed as it was designed to do…
…On Tuesday, a Model S collided with a large metallic object in the middle of the road, causing significant damage to the vehicle, the car’s alert system signalled a problem and instructed the driver to pull over safely, which he did. No one was injured, and the sole occupant had sufficient time to exit the vehicle safely and call the authorities.
The fire occurred after one of the 12 batteries used to power the vehicle was ruptured, and ignited. Each of (more…)