From crashing into bollards to mysterious acceleration incidents, troubling reports of Tesla’s technical challenges are coming to light. A colossal leak of confidential Tesla documents to German publication Handelsblatt has provided stark insights into the potential shortcomings of the electric vehicle (EV) behemoth.
The confidential material, comprising a staggering 100 gigabytes worth of internal Tesla documents, was made available to the newspaper. Handelsblatt’s probe into the documents, which covered issues spanning Europe, the US, and Asia from 2015 to March 2022, has underscored some significant issues in Tesla’s Autopilot technology.
This revelation could place Tesla under the scrutiny of regulators who are likely to scour the reports, seeking evidence of potential misinformation to authorities or consumers regarding vehicle safety.
Moreover, these leaks could magnify existing concerns among Tesla investors and market analysts about the company’s trajectory. Critics contend that Tesla’s much-lauded self-driving technology is far from road-ready, and the company appears to be struggling to turn new concepts into tangible products.
Adding to the intrigue within this flurry of revelations is a hint at a secretive report on Tesla’s long-awaited “Cybertruck,” the eccentrically designed pickup truck unveiled in 2019. The insinuation within the leaks suggests that the news may not be promising.
Ferdinand Dudenhöffer, director of the Centre for Automotive Research in Duisburg, Germany, comments that “Tesla urgently needs a new credibility story.” However, he adds that the contents of the leaked documents, while shocking, might not be unexpected.
Matthias Schmidt, an independent automotive analyst in Berlin, believes the reports won’t surprise many who have been following Tesla’s journey. Schmidt points out that Tesla’s aggressive approach to innovation has often raised questions about the readiness of its new products for the road.
Even as the controversy unfolds, Tesla’s charismatic CEO Elon Musk remains largely silent. The magnate, who acquired Twitter for $44 billion last October, has yet to comment on the issues raised.
The company, which was once seen as the leader of the EV pack, is now widely viewed as falling behind other automakers. This trend is marked by a lack of new consumer vehicle launches since 2020 and consistent delays in Cybertruck’s production.
In addition to impacting investor confidence, the delays are expected to have cascading effects on other awaited products, such as the Roadster, according to Soumen Mandal, a senior research analyst at Counterpoint Research.
However, the challenges facing Tesla aren’t just from within. The company is losing its innovative edge, with competitors like Ford and Chevrolet stepping up their EV game. Furthermore, ongoing safety and production issues are causing customers to question whether autonomous vehicles are a viable reality.
Investors, too, are expressing their dissatisfaction. Tesla’s share price, which had peaked at $407.36 in 2021, has since nosedived by more than half, closing on May 25, 2023, at $184.47 a share.
“Shareholders have been screaming at Musk to get back in the driver’s seat for a long time,” Schmidt says. “Tesla can’t run itself in autopilot mode.”
