Recently, Tesla's stock price has continued to decline, and its market value has fallen below $1 trillion again. In this context, Musk is constantly reducing its holdings. Since November 8, Musk has sold a total of 10.09 million shares of Tesla shares, accumulatively cashing out 10.9 billion US dollars, which can already be worth the market value of a Huayu automobile if it is placed in China. In addition, in addition to Musk's crazy reduction, Tesla car quality defects and recalls have been pushed on the hot search again, Tesla recently what is going on?
Let's take a look at Musk's reduction event. Musk's massive stock sell-off stems from a poll. Previously, Musk conducted an investigation on Twitter, when Musk's net worth was as high as $200 billion, Musk asked netizens whether they should sell their 10% Tesla holdings, netizens supported the move, and then Musk began a crazy way to reduce holdings.
For Musk, the benefits of this reduction are huge, Musk's holding cost is around $6.24, and for this, he can get a net gain of tens of billions of dollars. Even if Musk needs to pay about $15 billion in taxes, Musk can still make a lot of money compared to the gains. Although Musk said that he will donate the proceeds, no one knows whether it will eventually take shape, in case Musk feels that Tesla's stock price is high, so it is not known whether he will take the opportunity to reduce his holdings and harvest leeks. U.S. Senator Bernie Sanders and former Labor Secretary Robert Reich are criticizing Musk for trying to avoid taxes.
In addition to this controversial huge reduction, Tesla's products have also begun to have problems. China's State Administration for Market Regulation issued a message pointing out that some domestically produced Model Ys produced between February 4, 2021 and October 30, 2021, with a total of 21,599 units, were recalled. In the first ten months of this year, Tesla delivered a total of 106,200 vehicles in China, which has accounted for 20% of the total.
In order to prove its innocence, Tesla said that the defect of Model Y is caused by the unqualified products supplied by domestic suppliers in China. Tesla supplier Ningbo Tuopu Group said that the Tesla recall occurred suddenly, and the company did not know in advance that Tesla had informed of any information. According to the statement of Tuopu Group, the reason for this recall is that the strength of the vehicle's supporting knuckles is unqualified and there is a risk of breaking, but the company's tests determine that the probability of suspicious product defects is only 0.2%-1%, and there should be no tesla such a high defect failure.
But in addition to the risk of knuckle breakage in the domestic Model Y, the American-made Tesla Model Y also has this problem. On November 21 this year, Tesla applied to the U.S. Highway Safety Administration to recall some Model Y cars produced from June 16, 2020 to November 10, 2021, for a total of 826 vehicles. The reason for the recall is also that the strength of the front and rear steering knuckles of some vehicles does not meet the design requirements, and the supplier of this batch of models is not Tuopu Group. Therefore, Zhang Xiaoguang, an automotive industry analyst at Securities Daily, suspected that the Tesla Model Y had design flaws.
Of course, Tesla fans will not admit that Tesla will have problems. For them, Musk is light, is electricity, is to fly to Mars Iron Man, Tesla is the industry leader, other brands can only be vassals, can only follow Tesla. But Marx taught us that looking at new things needs to be seen from the perspective of development, the progress of independent pure electric models in recent years is obvious to all, and there is no shortage of dreamers and excellent engineers in our country, who said that independent brands can only follow it?