Tesla Bear Smells 'Diesel Gate 2.0' After Edmunds Finds None Of EV Giant's Cars Has Ever Hit EPA Range Estimate
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) has received a subpoena from the Department of Justice regarding vehicle range. This follows claims by Edmunds, an online publisher of automotive information, that no Tesla vehicle has ever hit its EPA range estimate. GLJ Research’s Gordon Johnson has compared this to the Diesel Gate scandal of 2015, where Volkswagen AG (OTC:VWAGY) was found to have manipulated its diesel engines to show emissions within agency standards during testing. A Reuters report in July suggested that Tesla has been exaggerating the ranges of its EVs for years by rigging their range-estimating software.
October 25, 2023 | 8:36 am
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NEGATIVE IMPACT
Tesla is under scrutiny for potentially exaggerating the ranges of its EVs, which could lead to legal and regulatory consequences.
The news of a DOJ subpoena and allegations of range exaggeration could negatively impact Tesla's reputation and stock price. The comparison to the Diesel Gate scandal suggests potential legal and regulatory consequences.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Volkswagen is mentioned in relation to its past Diesel Gate scandal, potentially reminding investors of the company's past regulatory issues.
While Volkswagen is not directly implicated in the current news, the mention of its past Diesel Gate scandal could remind investors of the company's past regulatory issues, potentially negatively impacting its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50