Tesla Faces Dual Challenges Amid Record Vehicle Deliveries

Tesla finds itself navigating turbulent waters as two significant crises emerge, despite posting impressive vehicle delivery numbers. The electric vehicle manufacturer is confronting a potential license suspension for its insurance operations in California, its most crucial U.S. market, while simultaneously dealing with an expanding class action lawsuit. Investors are watching closely to see whether CEO Elon Musk can successfully manage these mounting pressures.

Just one day before negative developments surfaced, Tesla had announced exceptional third-quarter results. The company delivered 497,099 vehicles during this period, surpassing analyst expectations. This surge was largely driven by American customers rushing to dealerships to benefit from an expiring electric vehicle tax credit. Tesla’s energy segment also achieved a new milestone, recording 12.5 GWh of stored... Read more...