Tesla is investigating video footage that appears to show smoke billowing from a Tesla Model S just moments before it exploded in a Shanghai car park
The blast was captured in a widely shared video on Chinese media, prompting the electric carmaker to launch its own inquiry. "We immediately sent a team on-site and we're supporting local authorities to establish the facts," the company said in a statement.In June, a Model S burst into flames while driving in Los Angeles
Sunday's incident comes at a sensitive time for the company. Daniel Ives, an analyst at Wedbush Securities, said in a note to clients Monday that he is expecting a "train wreck quarter" when Tesla reports first-quarter earnings on Wednesday due to its weak delivery numbers and cost trajectory.Ives said the stock continues to remain under pressure as investors worry that Tesla's lackluster performance will extend into the second half of the year.
The episode underscores what some Tesla investors say is Musk's impulsiveness and irresponsible leadership, which could provoke serious consequences for a company already facing doubts over demand, rising debt and stiff competition.
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