Tesla Gets Singed 🔥

by | 16 May, 2019

Tesla Gets Singed

Tesla has been forced to update its battery software after a second Model S reportedly caught fire in Hong Kong after being parked for 30 minutes. What’s going on here Mr Musk?

This second Model S to catch fire comes just three weeks after Tesla sent a team to investigate a viral video of one of its cars exploding in Shanghai’s commercial hub. Strangely enough, only a few battery modules were affected in the second fire with the majority of the battery pack remaining undamaged… But not so much in the first explosion.

While Tesla’s investigation of the two incidents is still ongoing, it has announced the rollout of an over the air software update to hopefully fix the issue. This included a revision of its charge and thermal management settings to stop excessive overheating. 

Tesla’s share price has also been roasted in the markets as investors have fallen out of love with the overvalued and heavily indebted company. It is trading roughly 37% below its 52-week high in a seemingly never-ending downtrend thanks to a slew of bad reports, tough global conditions and a never-ending battle to reach profitability.

C’mon Mr Musk, it’s time for a turnaround!

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.

 

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