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Tesla Model X frozen lake mystery gets solved, and the truth is stranger than fiction
Back in 2019, a picture of a charred Tesla Model X in the middle of a frozen lake in Vermont resulted in a lot of electric vehicle enthusiasts scratching their heads in confusion. Very few details were made public, though the police noted back then that the owner of the vehicle drove the Model X to the lake, where it supposedly struck a rock and caught fire.
The incident was pretty strange, partly because the car fully burned up without melting the ice and falling into the frozen lake. Little information was also available about the owner of the vehicle, though it was reported that no one was injured in the incident. Recently, the mysteries surrounding this peculiar Model X fire were explained, and by the Department of Justice, no less. Needless to say, the truth in this particular Model X fire was stranger than fiction.
According to the US Attorney’s Office in Vermont, the Model X was actually part of a pretty expansive scam executed by 32-year-old Michael A. Gonzalez of Colchester, Vermont. The scam involved Gonzalez acquiring Teslas by exploiting a procedure adopted by the company that allowed him to take deliveries of vehicles before his bank transfer was fully cleared.
As per a report from Seven Days, Gonzalez’s breakthrough came in September 2018, when he reserved a Tesla Model 3 that cost $58,200. To acquire the vehicle, the scammer paid Tesla a $2,500 downpayment and set up an automated payment scheme to draft the vehicle’s monthly payments. Tesla delivered the Model 3, and days later, Gonzalez’s fund transfers were rejected by the bank. The vehicle was taken around December 2018 to a used car dealership, where Gonzalez sold it for $42,500.
Fresh from his successful scam, Gonzalez decided to go for a bigger prize next: a Tesla Model X. Using the same playbook, he was able to acquire a Model X worth $144,200. Tesla delivered the vehicle, and weeks later, Gonzalez was able to sell the all-electric SUV through Craigslist for $90,000.
According to investigators, the Model X that ended up on the frozen lake was actually the third Tesla in Gonzalez’s scheme. It was a vehicle worth $152,663, the scammer’s most expensive yet. But while he was able to pick up the car in Tampa, Tesla did not provide Gonzalez with the ownership paperwork needed to register or resell the car. In response to this, Gonzalez reportedly took the car to a frozen section of Shelburne Bay, where it was later found in flames.
The gutsy Gonzalez actually filed an insurance claim for the Model X’s loss, but he never showed up for a required examination under oath where he was required to bring the electric vehicle’s certificate of ownership. Ultimately, the claim was denied.
Not to be discouraged, Gonzalez went for a fourth Tesla in March 2019, another Model X for $136,710. This time around, he used another person’s driver’s license and another address. Tesla delivered the vehicle, and it was registered with the Vermont DMV. Gonzalez then transferred the Model X’s title under his own name, claiming that he had acquired it through an “even trade” with an $8,200 2013 Kia Optima. The Model X was sold on eBay for $99,400.
Unfortunately for Gonzalez, his streak ended when he initiated his scam for the fifth time in July 2019. Tesla eventually hired a repossession company, and the vehicle was tracked to a Burlington garage. The scammer fled, though he was later arrested in February 2020 on a separate gun charge. Upon his release, he had the Tesla towed from a storage facility for what he believed was another sale. The Seabrook Police Department was not having it by this time, and they proceeded to impound the Model X.
As per the US Department of Justice, Gonzalez is currently being charged with five counts of possessing and selling stolen motor vehicles. He is ordered detained by United States Magistrate Judge Kevin J. Doyle pending a detention hearing next week, and he is at risk of facing ten years in prison for each count of possessing and selling stolen cars.
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Tesla stock (NASDAQ: TSLA) endured one of its sharpest single-day declines in years on July 23, tumbling approximately 14.5 percent and closing near $320 after opening the session around $374. The drop erased more than $140 billion in market value amid heavy trading volume and left the shares at multi-week lows.
The sell-off followed the company’s second-quarter 2026 results, released the previous evening. Tesla reported record revenue of $28.2 billion, up 26 percent year over year, driven by a Q2-record 480,126 vehicle deliveries. Energy storage deployments also rose strongly.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Yet profitability disappointed sharply. Operating income fell 57 percent to $398 million, compressing the operating margin to just 1.4 percent. Non-GAAP earnings per share came in at $0.33, well below the roughly $0.53 analysts had expected. Free cash flow turned negative by $1.1 billion as capital expenditures surged 142 percent to $5.8 billion, largely tied to accelerated spending on artificial intelligence, robotics, and autonomous systems.
The losses on capex were expected, as Tesla said it would be spending heavily in 2026.
Investors also reacted to lingering uncertainty surrounding key product timelines. During the Earnings Call, management reiterated ambitions for Robotaxi deployment and the Optimus humanoid robot, but offered limited new concrete milestones, renewing questions about execution pace that have long accompanied Tesla’s ambitious roadmap.
The magnitude of the decline places it among Tesla’s more severe one-day percentage losses since its 2010 initial public offering. Historically, the two largest single-day drops (split-adjusted) remain September 8, 2020, when shares fell 21.1 percent amid broader market volatility and valuation concerns, and January 13, 2012, with a 19.3 percent plunge during the company’s early growth struggles.
Other notable declines include an 18.6 percent drop on March 16, 2020, at the onset of pandemic-related market turmoil. Thursday’s move ranks roughly ninth on the all-time list but stands out as the steepest in more than a year.
Despite the short-term pain, Tesla’s long-term trajectory has repeatedly recovered from such volatility. The latest results underscore both the strength of its core automotive and energy businesses and the near-term costs of heavy investment in next-generation technologies.
Elon Musk clapped back at France’s decision to withhold the approval for Tesla’s Full Self-Driving (FSD) Supervised system, projecting a clear and blunt message to French Transport Minister Phillippe Tabarot, after he publicly rejected the technology in its current form.
Tabarot outlines several concerns with Tesla Full Self-Driving in a detailed video statement, where he said, “The safety trade-offs are not yet sufficient to authorize it as it currently stands,” he said. He emphasized that FSD is not a true self-driving system and that the driver remains fully responsible.
Key issues Tabarot also brought up included allowing speeding when surrounding traffic exceeds limits and what he believes are insufficient guarantees of driver attention during complex urban maneuvers such as lane changes, intersections, and roundabouts.
Delaying the approval of FSD in France will cost lives
— Elon Musk (@elonmusk) July 22, 2026
While acknowledging technological progress and France’s support for autonomous innovation, Tabarot stressed that deployment must prioritize road safety. He noted ongoing technical discussions with Tesla, the Netherlands, and other European partners, with further ecosystem meetings planned for the fall.
Musk’s rebuke highlights the human cost of regulatory caution. Tesla’s latest safety reports provide compelling data supporting accelerated adoption. In the most recent 12-month period, vehicles using FSD (Supervised) recorded one major collision per approximately 5.1 million miles driven, dramatically better than the U.S. national average of one crash per 698,000 miles.
Even Tesla vehicles driven manually with active safety features outperform the average by a wide margin. These figures come from billions of real-world miles of telemetry, showing FSD vehicles involved in far fewer incidents than both manual Teslas and the broader U.S. fleet.
Critics argue Tesla’s comparisons require careful scrutiny regarding reporting thresholds and fleet demographics, yet the data consistently positions FSD as a potential lifesaver. With road fatalities remaining a leading cause of death worldwide, Musk contends that proven safer technology should not face prolonged bureaucratic hurdles.
France’s measured approach reflects the broader European regulatory caution, which many, especially Musk, have been critical of in the past. However, as autonomous systems from Tesla and competitors like Waymo demonstrate superior safety in independent studies, pressure is mounting for harmonized approvals.
Musk’s warning carries the belief that every month of delay may equate to avoidable tragedies on European roads.
In a striking revelation that underscores the lucrative crossover between Big Tech and space exploration, Alphabet Inc., Google’s parent company, disclosed a massive $94.1 billion equity stake in SpaceX following the rocket company’s blockbuster initial public offering earlier this year.
The disclosure came in Alphabet’s quarterly filing, marking the first time the long-held private investment has been publicly valued at market prices. Google was an early backer, investing alongside Fidelity in 2015 with roughly $500-900 million at a time when SpaceX was valued around $12 billion.
That bet has delivered extraordinary returns, roughly a hundredfold, transforming a strategic play on satellite internet and launch capabilities into one of Alphabet’s largest assets.
Google, $GOOGL, has said they hold $94 billion in SpaceX, $SPCX, shares after IPO.
— unusual_whales (@unusual_whales) July 23, 2026
Of the total holding, approximately $80 billion remains subject to short-term post-IPO lockup restrictions, preventing near-term sales. An additional $14.1 billion faces longer-term restrictions, extending into the third quarter of 2027. This structure limits immediate liquidity but protects against market volatility as SpaceX transitions into public trading.
The SpaceX position contributed significantly to gains in Alphabet’s broader investment portfolio, which also includes a major stake in AI leader Anthropic. Combined, these holdings helped drive nearly $100 billion in investment gains during the second quarter, providing a substantial boost to net income amid ongoing AI spending pressures.
Analysts view the disclosure as validation of Alphabet’s venture strategy beyond its core search and cloud businesses. The investment aligns with deeper ties, including reported multi-billion-dollar deals for AI computing capacity on SpaceX infrastructure. As SpaceX advances Starship flights, Starlink expansion, and ambitious Mars goals under Elon Musk, Google’s stake positions it to benefit from the commercialization of space.
For Alphabet, the windfall highlights how patient, forward-looking bets in transformative sectors can yield outsized rewards. While lockups temper short-term impact, the holding cements SpaceX as a cornerstone of Alphabet’s diversified portfolio in an era where aerospace, AI, and connectivity increasingly intersect. Investors will watch closely as restrictions lift and SpaceX’s public performance unfolds.
Tesla stock tumbles after earnings, one of its sharpest single-day declines
Elon Musk is not happy about this Tesla Full Self-Driving approval delay
