Group 1 - Baird analysts reaffirmed a "neutral" rating on Tesla (TSLA.US) and lowered delivery and regulatory credit expectations for the second half of 2025, indicating signs of weakness in its automotive business [1] - The analysts believe that market expectations for Tesla's profitability remain overly optimistic and urge the company to clarify timelines for its autonomous taxi and Optimus projects [1][2] - Tesla is currently facing multiple legal and regulatory challenges, including a collective lawsuit approved by a California judge in August 2025, which accuses the company of misleading consumers about the capabilities of its Full Self-Driving (FSD) system for eight years [1] Group 2 - The lawsuit reflects a significant shift in judicial responsibility regarding autonomous driving, as courts are beginning to hold automakers accountable for creating a "false sense of security" in their marketing, while still emphasizing the driver's duty of care [1] - A lawsuit in Florida further exposes systemic flaws in Tesla's systems, alleging that the company delayed critical safety updates and misrepresented its Autopilot system as "nearly autonomous" despite only having partial driving assistance capabilities [1] - Analysts emphasize that Tesla needs to provide transparent disclosures regarding its profitability pathways and the commercialization timeline of its autonomous driving technology to stabilize market expectations, particularly for the autonomous taxi and Optimus robot projects [2]
Baird重申特斯拉(TSLA.US)“中性”评级 汽车业务疲软致交付预期下调