The widely followed analyst slashed his price target for shares of the electric automaker to $291 from $376 on Tuesday, bringing his target below Tesla's trading price for the first time in months.
Federal regulators are not investigating the crash of a Tesla electric vehicle this weekend, as Utah police try to determine whether the car's semi-autonomous Autopilot feature was switched on.
There was no immediate comment from Tesla about Schwall.
"As part of the reorg, we are flattening the management structure to improve communication, combining functions where sensible and trimming activities that are not vital to the success of our mission". The company said that total Model 3 production was 9,766 for the quarter and that it delivered 8,180 cars.
Musk said in Monday's email Tesla would still rapidly hire people to fill critical positions "to support the Model 3 production ramp and future product development".
On 2 May Musk said Tesla would conduct "a reorganisation restructuring" during May, without providing more details. While the Model S owner's manual says drivers should not use Autopilot on city streets, it does not prohibit them from doing so.
Despite the rocky relationship between Tesla and the NTSB, agency spokesperson Keith Holloway said he's still uncertain as to whether the agency will open an investigation into the accident.
Musk tweeted that while the eye tracking had been on the table, it was rejected for its ineffectiveness rather than cost.
Everyone at Tesla is not only encouraged, but expected, to provide criticism and feedback to ensure that we're creating the best, safest cars on the road. He said Tesla's record of a fatality every 320 million miles compared with last year's national average of 86 million miles, per safety regulators. [L5N1SL7R8] It was the latest accident involving a Tesla.
The driver of a Tesla Model S that last week slammed into a Unified Fire Authority vehicle stopped at an intersection said she had engaged the autopilot feature in the vehicle but was "looking at her phone prior to the collision", police reported Monday.
Police in Utah are looking into a collision involving a Tesla electric auto that hit a fire department vehicle over the weekend.
The accident is another in a series of issues that have plagued the company from Palo Alto, California, including a dust-up with the National Transportation Safety Board over the handling of data related to an investigation into a March 23 fatal accident involving a Tesla Model X in Mountain View, California.