05.03.2020 TESLA(NASDAQ:TESL) Daily Analysis

05.03.2020 TESLA(NASDAQ:TESL) Daily Analysis

  Tesla seems to have stabilized and hasn't made any wild jumps over the past couple of days. However, trouble seems to be brewing for the giant in it's biggest market. One user posted on Weibo, China's biggest social media platform, that  Tesla had not updated its autopilot software to HW3 the way they had promised and had used old hardware. several more claims came up and the consumers are angry with the company for using old chips "Tesla has betrayed the people and government of China" One user commented on Weibo. What makes the newer system desirable is a proprietary chip, developed and manufactured by Tesla, which processes images around 21 times faster than the previous version, which employed an older Nvidia-made chip. With the newer chip, Tesla Autopilot — the car’s advanced driver assistance system — can recognize traffic lights and orange traffic cones, helping it navigate automatically through highway traffic. Upon closer examination, owners said the cars they received actually included version 2.5 of the hardware instead of version 3 as promised. Tesla issued an official apology and said the reason for using old chips is because of a disruption in its supply chain due to the Coronavirus. This however just seems like an excuse and Tesla seems to be using the virus as a scapegoat!