1/ News of $TSLA buying $BTC came out 40 min after some inglorious news from China emerged regarding Tesla quality problems.

*Five* govt agencies warned Tesla's top brass about mounting complaints over quality problems.

Elon likely released the 10-K w/ $BTC news b/c of this.

2/ $TSLA being questioned by 5 CCP agencies is the #2 news trending on China's Weibo now & made it to the nightly news.

I'm told:

1) This will be a big blow to Tesla's brand image
2) 5 agencies issuing warnings at once is unprecedented

More recalls & higher costs to come?

3/ While $TSLA recalled 30K S/X last year due to screen problems, complaints about sudden-unintended acceleration (SUA) problems are also rising in China.

There were 15 SUA complaints last year in China w/ the Models S/X/3. This sounds like a lot even vs the US.

cc: @btsparks

4/ $TSLA responded to the 5 agencies. Never seen them being this humble & remorseful (CCP must be scary af when they're angry).

$TSLA essentially promised the CCP to stop screwing its customers, which is something new for Tesla's business model & surely a herculean task.

5/ To ensure adequate quality of its cars, $TSLA will now have to spend on:

-Voluntary recalls (SUA, whompy wheels, range loss, etc)
-Bolstered quality control
-Revamped manufacturing processes

$TSLAQ

Link to the article making waves (worth a read): http://finance.eastmoney.com/a/202102081807250893.html