Tesla is referred to by investment banks as a "very expensive car company", with its stock price dropping by over 5% and its market value evaporating 280 billion yuan

On November 10th, local time, HSBC Global, a subsidiary of HSBC, rated Tesla's stock as "underweight" on Thursday, with a target stock price of $146. Tesla's stock price fell 5

On November 10th, local time, HSBC Global, a subsidiary of HSBC, rated Tesla's stock as "underweight" on Thursday, with a target stock price of $146. Tesla's stock price fell 5.46% to $209.98 per share, with a market value of $667.5 billion. Its market value evaporated overnight by $38.6 billion (approximately RMB 281.2 billion).

HSBC analysts stated in the report that Tesla is a "very expensive automotive company". Elon Musk is both Tesla's asset and Tesla's risk point. They believe that Musk is a "charismatic CEO with a group of passionate followers" and "in line with the narrative style of innovators".

Analysts also stated that Tesla's current stock price already includes many "expectations" for future technology projects, from long-delayed unmanned driving systems to humanoid robots and supercomputers. Analysts say, "It can be said that these ideas need to become reality in order to support the current stock price

The reason why HSBC analysts are bearish on Tesla's stock is: "The significant delays or development status of these projects indicate that the commercialization of the projects either lacks technical feasibility or does not comply with regulatory regulations, posing significant risks to Tesla

But from an optimistic perspective, HSBC analysts also stated that Tesla's core electric vehicle business "faces fewer challenges than other companies, so it is worth a premium." They stated that pure electric vehicles are a growth market, with increasing penetration rates and are likely to continue for decades. Tesla is already a leader in cost control, and considering the company's goals and scale, it is likely to continue to maintain this position

The favorable conclusion made by HSBC analysts towards Tesla is that these areas' faster than expected development 'may lead to a reassessment of Tesla's P/E ratio, and Tesla's core electric vehicle business' may experience higher than expected market share growth driven by price reduction expectations'.

In addition to HSBC's stock "underweight" rating, Tesla is also facing an unfavorable situation in Sweden where the scale of the strike is constantly expanding.

At present, Swedish unions are pressuring Tesla through strikes and port lockdowns, as the company has so far refused to sign collective bargaining agreements with service department employees, including technicians and mechanical engineers who provide repair and maintenance services for customers' cars.

According to reports, the IFMetall union, which represents some employees of Tesla's service centers, began a strike in 12 Tesla service centers on October 27th. Dockworkers, who are members of the Swedish Transport Workers Union, have stated that if Tesla fails to reach an agreement before November 17th, they will refuse to load and unload Tesla goods at all ports in Sweden. The electrical union workers who maintain Tesla charging stations have also promised to strike from November 17th if an agreement cannot be reached.

According to reports, the strike may spread to Norway.

On Thursday, US President Biden delivered a speech to the United Auto Workers (UAW) workers in Illinois, expressing support for union leaders reaching collective agreements with companies such as Tesla and Toyota.

Last October, UAW Chairman Shawn Fain stated in an online broadcast: "When we return to the negotiating table in 2028, the negotiating targets will not only be the 'Big Three', but also five or even six giants

Tesla is expected to host the Cyberrack event at the end of this month. Although the specifications and prices of the final version of the Cybertruck electric pickup have not yet been announced, Tesla has allowed some Cybertrucks to appear in promotional activities. According to reports, this week, various car critics, including car enthusiasts and professionals, criticized the manufacturing quality and design of this car. (Chen Chen)