Investor Sues Elon Musk, Tesla Board + Fremont Fire, Tesla Insurance, Market Share (03.12.21)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 13 March 2021
⏱️ 9 minutes
🧾️ Download transcript
Summary
➤ Fire at Tesla’s “Gigapress” in Fremont factory contained with no reported injuries
➤ Investor lawsuit filed against Elon Musk and Tesla board of directors
➤ EV market share continues to make the rounds, Piper Sandler’s Alex Potter chimes in
➤ Tesla reportedly selects underwriter for Tesla Insurance in new state
➤ Report of Tesla / Tata Power partnership in India denied
➤ Plaid+ order holders comment on timeline
➤ Partial FSD Beta expansion may happen this weekend
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Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody Rob, now we're here and while we've got an eventful Friday from a headline |
| 0:11.8 | news perspective at least, we've got a Tesla fire to talk about, a lawsuit against |
| 0:15.0 | Tesla to talk about, market share continues to make the rounds today, but we do have some |
| 0:18.7 | news on Tesla insurance, more news on India and a couple other stories as well. |
| 0:23.1 | Considering those headlines for Tesla not a bad day for the stock today, finishing |
| 0:26.2 | down 0.8% to $693.73, that compared to the NASDAQ down 6.10% |
| 0:33.0 | Alright, so first up today let's talk about that fire, last night a fire broke out at |
| 0:36.5 | Fremont, local news station KTVU got some aerial footage of the smoke and is pretty clearly |
| 0:42.0 | coming from the location of the gigapress casting machine. |
| 0:45.9 | The Fremont fire department said that firefighters responded to a fire at the Tesla factory |
| 0:49.6 | at 4.27pm, the fire was located in an area of the factory that is currently under construction, |
| 0:55.0 | they say that the deep-seated fire was contained to a vehicle manufacturing stamping machine, |
| 0:59.9 | of course there they probably mean the casting machine, they continue on to say that Fremont |
| 1:03.4 | firefighters coordinated the firefighting effort with the Tesla fire response team and that |
| 1:07.6 | the fire had been controlled. |
| 1:09.2 | Quote, the cause of the fire is molten aluminum and hydraulic fluid, hydraulic fluid was identified |
| 1:14.1 | as the source of the fire. |
| 1:15.4 | End quote. |
| 1:16.4 | Thankfully there were no reported injuries and Fremont fire again says that all Fremont |
| 1:19.7 | fire crews were released from the incident at the Tesla factory by 7pm, which would |
| 1:24.4 | be under 3 hours from when they first responded. |
| 1:27.3 | So by all accounts this seems like a problem with the hydraulic line rather than a problem |
... |
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