UBS perma-bear "Colin Langan" is (unsurprisingly) doubling down on their LIDAR misunderstanding and FUD:
"UBS analyst, Colin Langan, reiterated a Sell rating and $200 price target on Tesla after attending the company's Autonomy Day. The highlights include a target date for he deployment of "feature complete self driving" capabilities, the launch of the Robotaxi in 2020 and featured the in-house designed TSLA chip has more power and uses less silicon than the prior gen NVDA chip."
'The analyst stated "The primary sensor is often vision, but most experts believe LiDAR will be needed since it provides more unique data, even if it's small, that makes the entire system safer. Regulators will likely want more sensor data to ensure the highest level of safety. TSLA may also need more nonsimulated testing. TSLA reported 0 AV miles driven in California in 2018 vs. GOOG which reported 1.2m".'
There's two false claims in these two short paragraphs already:
- He is misconstruing the fact that Tesla did not opt to report disengagements in California into a false claim that Tesla only performs "simulated testing". In reality Tesla got disengagement events from about a billion miles of Autopilot driving, a three orders of magnitude larger data stream than the Google case UBS cites ...
- They also don't realize that even a very cheap ~$5,000 LIDAR sensor will crowd out much more effective sensors, i.e. in Tesla's model LIDAR will actively reduce car safety and kill people.
He is hiding behind the "most experts believe" weasel words and false appeal to authority, instead of using easily verified facts and logic. I absolutely do not want to read his full analyst report: garbage in, garbage out.
In other, completely unrelated news, UBS is apparently positioning to IPO Waymo:
Which I suspect explains why they absolutely have to "misunderstand" Tesla's plans.