If share price is anything to go by, Tesla is in trouble. The market capitalisation of the electric vehicle (EV) company has fallen by 73 per cent from its record high in November 2021, causing concern for investors. On the face of it, there is no crisis. The cars are still the benchmark for performance. The underlying technology and the sophistication of the software remain preeminent. The supercharging network of fast EV charging stations is the envy of competitors. Its cutting-edge assembly plant and gigafactories (for large-scale production of EV batteries) support peak productivity. Tesla’s direct-to-customer sales model has also...