Tesla: The Inevitable Re-Rating Is Here – Time To Add? (TSLA)

General Motors’ (GM) Cruise has been approved for paid robotaxi service in Austin, where the former’s Gigafactory is located. GM is already seeking regulatory approval in California to begin public testing of a steering-less shuttle, with submission already completed by August 2022. It is also anticipated that GM may be able to reconfigure Cruise for commercial deliveries, thereby expanding its end-market reach. This is an exciting development indeed, since Ford recently recorded a massive $2.7B impairment on the self-driving ARGO platform. . . .