News
Tesla ‘sabotage’ at Fremont Factory was due to a racial justice protest, claims report
Earlier this month, reports emerged that Tesla had terminated an employee at the Fremont Factory over what acting general counsel Al Prescott described as an act of “sabotage” that resulted in the facility’s operations being disrupted for a few hours. New details have now emerged suggesting that the disruption may have been caused by a racial justice protest over Breonna Taylor’s grand jury decision.
In his email to Tesla employees, Prescott stated that an employee at the Fremont Factory had attempted to “maliciously sabotage” a part of the facility. The acting general counsel did not provide many details about the incident, though he stated that the quick actions of Tesla’s IT and InfoSec teams helped prevent further damage to the facility. Prescott also shared that the employee in question was terminated over the incident.
News publication Protocol was recently able to retrieve an email from a Tesla engineer telling several colleagues that the disruption of the Fremont Factory was the result of a “peaceful direct action protest” following the grand jury decision to not charge any of the officers involved in the controversial killing of Breonna Taylor, a full-time ER technician who was fatally shot in her Louisville, Kentucky apartment on March 13, 2020, by plainclothes officers.
In his email, which was sent on September 30, the engineer noted that he wanted to offer a “brief explanation of my behavior that day and how my role at Tesla fits within the broader movement for racial, social, and economic justice.” He also asked his colleagues to forward his message to others in the factory “to whom you feel I owe an explanation.” The engineer shared some of his own experiences with police harassment in his email as well, stating that he has been pulled over, handcuffed, stopped and frisked, and even had guns drawn on him.
“I have done a substantial amount of work over the years to heal from those personal traumas. Unfortunately, the events of 2020 have punctured new wounds and old scars. But this is not about me, this is about a system that has little to no regard for Black and Brown bodies. This is about shutting down technocratic oppression in order to open up this nation’s bodily and spiritual wounds,” the engineer wrote.
While the engineer did not directly admit that he was behind the “sabotage” of the Fremont Factory’s operations, he did state in his message that such acts of “protest” usually happen as a way for people to express their pain and confusion.
“Direct action protests within the workplace often occur as a means of expressing the pain and confusion felt daily in the lives of oppressed people. As a Tesla employee, I often wonder where my role sits to advance the causes of Black and Brown liberation all while economically benefiting from the exploitation of historically marginalized Black and Brown labor on stolen Chochenyo Ohlone land,” the engineer added.
Ultimately, the engineer admitted that he does not know what will happen to him next, though he noted that he hoped that his actions would be “a catalyst for genuine change” within Tesla. He remarked that he understood that he was speaking “from a position of privilege” and that “those privileges can easily be stripped away.”
“To conclude, I have been asking myself: is Tesla a place where people who have experienced profound intergenerational trauma can work and thrive? I still don’t know the answer to that, but the next few days will acutely reveal that for me,” the engineer added.
A Tesla employee, who spoke with Protocol on the day of the incident, noted that the email’s author had been in a conference call with about a dozen engineers about the disruption. During the call, the email’s author reportedly informed that other engineers that he had resolved the issue, which led to another participant in the conference to joke if the outage was a prank. Just as noted by Tesla’s acting general counsel, the Fremont Factory was indeed returned to full working order within a few hours.
H/T Drive Tesla Canada.
News
Wedbush’s Dan Ives sees ‘monster year’ ahead for Tesla amid AI push
In a post on X, the analyst stated that the electric vehicle maker could hit a $3 trillion market cap by the end of 2026 in a bullish scenario.
Wedbush analyst Dan Ives is doubling down on Tesla’s (NASDAQ:TSLA) long-term upside. In a post on X, the analyst stated that the electric vehicle maker could hit a $3 trillion market cap by the end of 2026 in a bullish scenario, thanks to the company’s efforts to develop and push its artificial intelligence programs.
An aggressive valuation upside
Ives, Wedbush’s global head of tech research, stated in his post that Tesla is entering a pivotal period as its autonomy and robotics ambitions move closer to commercialization. He expects Tesla’s market cap to reach $2 trillion in 2026, representing roughly 33% upside from current levels, with a bull case up to a $3 trillion market cap by year-end.
Overall, Ives noted that 2026 could become a “monster year” for TSLA. “Heading into 2026, this marks a monster year ahead for Tesla/Musk as the autonomous and robotics chapter begins. We believe Tesla hits a $2 trillion market cap in 2026 and in a bull case scenario $3 trillion by end of 2026… as the AI chapter takes hold at TSLA,” the analyst wrote.
Ives also reiterated his “Outperform” rating on TSLA stock, as well as his $600 per share price target.
Unsupervised Full-Self Driving tests
Fueling optimism is Tesla’s recent autonomous vehicle testing in Austin, Texas. Over the weekend, at least two Tesla Model Ys were spotted driving on public roads without a safety monitor or any other occupants. CEO Elon Musk later confirmed the footage of one of the vehicles on X, writing in a post that “testing is underway with no occupant in the car.”
It remains unclear whether the vehicle was supported by chase cars or remote monitoring, and Tesla has not disclosed how many vehicles are involved. That being said, Elon Musk stated a week ago that Tesla would be removing its Safety Monitors from its vehicles “within the next three weeks.” Based on the driverless vehicles’ sightings so far, it appears that Musk’s estimate may be right on the mark, at least for now.
News
Production-ready Tesla Cybercab hits showroom floor in San Jose
Tesla has implemented subtle but significant updates to both the Cybercab’s exterior and interior elements.
Tesla has showcased what appears to be a near-production-ready Cybercab at its Santana Row showroom in San Jose, California, giving visitors the closest look yet at the autonomous two-seater’s refined design.
Based on photos of the near-production-ready vehicle, the electric vehicle maker has implemented subtle but significant updates to both the Cybercab’s exterior and interior elements, making the vehicle look more polished and seemingly more comfortable than its prototypes from last year.
Exterior and interior refinements
The updated Cybercab, whose photos were initially shared by Tesla advocate Nic Cruz Patane, now features a new frameless window design, an extended bottom splitter on the front bumper, and a slightly updated rear hatch. It also includes a production-spec front lightbar with integrated headlights, new wheel covers, and a license plate bracket.
Notably, the vehicle now has two windshield wipers instead of the prototype’s single unit, along with powered door struts, seemingly for smoother opening of its butterfly doors. Inside, the Cybercab now sports what appears to be a redesigned dash and door panels, updated carpet material, and slightly refined seat cushions with new center cupholders. Its legroom seems to have gotten slightly larger as well.
Cybercab sightings
Sightings of the updated Cybercab have been abundant in recent months. At the end of October, the Tesla AI team teased some of the autonomous two-seater’s updates after it showed a photo of the vehicle being driven through an In-N-Out drive-through by employees in Halloween costumes. The photos of the Cybercab were fun, but they were significant, with longtime Tesla watchers noting that the company has a tradition of driving its prototypes through the fast food chain’s drive-throughs.
Even at the time, Tesla enthusiasts noticed that the Cybercab had received some design changes, such as segmented DRLs and headlamps, actual turn signals, and a splitter that’s a lot sharper. Larger door openings, which now seem to have been teasing the vehicle’s updated cabin, were also observed at the time.
Investor's Corner
Tesla analyst realizes one big thing about the stock: deliveries are losing importance
Tesla analyst Dan Levy of Barclays realized one big thing about the stock moving into 2026: vehicle deliveries are losing importance.
As a new era of Tesla seems to be on the horizon, the concern about vehicle deliveries and annual growth seems to be fading, at least according to many investors.
Even CEO Elon Musk has implied at times that the automotive side, as a whole, will only make up a small percentage of Tesla’s total valuation, as Optimus and AI begin to shine with importance.
He said in April:
“The future of the company is fundamentally based on large-scale autonomous cars and large-scale and large volume, vast numbers of autonomous humanoid robots.”
Almost all of Tesla’s value long-term will be from AI & robots, both vehicle & humanoid
— Elon Musk (@elonmusk) September 11, 2023
Levy wrote in a note to investors that Tesla’s Q4 delivery figures “likely won’t matter for the stock.” Barclays said in the note that it expects deliveries to be “soft” for the quarter.
In years past, Tesla analysts, investors, and fans were focused on automotive growth.
Cars were truly the biggest thing the stock had to offer: Tesla was a growing automotive company with a lot of prowess in AI and software, but deliveries held the most impact, along with vehicle pricing. These types of things had huge impacts on the stock years ago.
In fact, several large swings occurred because of Tesla either beating or missing delivery estimates:
- January 3, 2022: +13.53%, record deliveries at the time
- January 3, 2023: -12.24%, missed deliveries
- July 2, 2024: +10.20%, beat delivery expectations
- October 3, 2022: -8.61%, sharp miss due to Shanghai factory shutdown
- July 2, 2020: +7.95%, topped low COVID-era expectations with sizeable beat on deliveries
It has become more apparent over the past few quarters that delivery estimates have significantly less focus from investors, who are instead looking for progress in AI, Optimus, Cybercab, and other projects.
These things are the future of the company, and although Tesla will always sell cars, the stock is more impacted by the software the vehicle is running, and not necessarily the vehicle itself.
Wedbush’s Dan Ives sees ‘monster year’ ahead for Tesla amid AI push
Production-ready Tesla Cybercab hits showroom floor in San Jose
