Overnight, Tesla fell by 8.4%, with a daily fluctuation exceeding 11.9%.In the night session, Tesla continued to decline, currently down by 3.3%.On the news front, overnight, Bloomberg's disclosure that the release of Robotaxi was delayed from August to October had an impact;In the night session, Tesla continued to decline, with foreign media reporting that Tesla's expansion plans in Giga Berlin, Germany, faced obstacles.<figure class="image"><img src="https://pub.pbkrs.com/cms/2024/0/313e6JM6K3YL7W5CYVvZstHpn3EpuK61.jpg?x-oss-process=style/lg" original-src="https://pub.pbkrs.com/cms/2024/0/313e6JM6K3YL7W5CYVvZstHpn3EpuK61.jpg"/></figure>German media reports that part of the expansion approval for Tesla Berlin will be delayed (Note: The expansion of the Berlin factory aims to increase production capacity to 1 million vehicles, with approvals divided into several parts, some of which have been granted. However, forest clearing activities have not yet been approved).<figure class="image"><img src="https://pub.pbkrs.com/cms/2024/0/oh9NvoDP7rrBrXX7PRD2uM2bGR65Couu.jpg?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/cms/2024/0/oh9NvoDP7rrBrXX7PRD2uM2bGR65Couu.jpg"/></figure>Today, UBS downgraded Tesla's rating to sell with a target price of $197.<figure class="image"><img src="https://pub.pbkrs.com/cms/2024/0/gJdHcPkCjjmvHd9RVVpJrFKR8KNGz1R5.jpg?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/cms/2024/0/gJdHcPkCjjmvHd9RVVpJrFKR8KNGz1R5.jpg"/></figure>It is worth mentioning that after the delayed release of Tesla's Robotaxi, competitors Uber and LYFT both saw significant increases; while DiDi continued to decline for two days due to the impact of Baidu's Apollo.

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Tesla plummeted, while competitors Uber and Lyft soared

- Tesla experienced a significant overnight drop of 8.4%, with a daily fluctuation exceeding 11.9%. The decline continued in after-hours trading, reaching 3.3% by the latest update. Bloomberg's report on the delay of Tesla's Robotaxi launch from August to October and obstacles in the expansion plans at Giga Berlin contributed to the downward trend.
- Approval delays in the expansion of Tesla's Berlin factory, aiming to increase production capacity to 1 million vehicles, were reported. UBS downgraded Tesla to a sell rating with a target price of $197. Competitors like Uber and LYFT surged after Tesla's Robotaxi delay, while Didi experienced a two-day decline due to Baidu's Robo-Taxi influence.

Overnight Trading | Tesla plunges, Robotaxi delayed, Berlin factory expansion faces obstacles