Tesla Reportedly Hit With Complete Network Outage

Tesla suffers a complete network outage, with internal systems going down, leaving customer connectivity features that run and navigate Tesla vehicles offline.
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Tesla  (TSLA) - Get Report on Wednesday suffered a complete network outage, with internal systems going down, leaving customer connectivity features that run and navigate Tesla vehicles unavailable.

Tesla owners reportedly experienced difficulties connecting to their cars through the mobile app starting at around 11 a.m. ET, according to Tesla-focused news site Electrek. Tesla’s network outage appears to be global with owners around the world reporting the same issue. Owners were still able to access and use their cars.

Tesla’s website also reportedly was returning an error beyond the main page. The same issues appeared to be happening for Tesla’s energy products, with Tesla solar and Powerwall owners not being able to monitor their systems, Electrek said. Connectivity had started to return to some cars as of 11:35 a.m.

The outage was more bad news for Tesla, whose shares downshifted further on Wednesday after the electric vehicle maker’s much-hyped “Battery Day” failed to impress or deliver, among other things, a newer, cheaper, longer-range battery.

Shares of Tesla were down more than 7% on Wednesday, adding to the carmaker's market-cap losses endured after trading closed Tuesday, as Musk and other Tesla executives virtually and in person rolled out their new battery and manufacturing plans.

Tesla's market cap dropped $20 billion in just two hours on Tuesday following the car and battery maker’s “Battery Day” reveal, in which CEO Elon Musk laid out plans to produce a cheaper, lower-cost battery, build a $25,000 electric car and eventually produce 20 million vehicles a year - but not until 2023.

All told, more than $50 billion has been erased from Tesla’s market value as of Tuesday.