www.ubs.com/investmentresearchThisreporthasbeenpreparedbyUBSSecuritiesLLC.ANALYSTCERTIFICATIONANDREQUIREDDISCLOSURESBEGINONPAGE36.UBSdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.???GlobalResearch20August2018IsTeslaRevolutionaryorEvolutionary?Lap2:Electronics–TheRevolutionNeedsNewHardwareAutonomousneedsaredrivingmajorchangesinautoelectronicsInLap2ofourteardownseries,welookatautoelectronicstoseeifTesladeservesitsreputationastheelectronicsleader.ThetransitiontoLevel2+autonomousvehicles(AVs)significantlyincreasesacarsneededcomputepower.Inthepast,addinganewfeaturemeantaddinganewECU(electronic