In the Netherlands, the renowned car - rental company Mistergreen is on the brink of bankruptcy. This company stood out in the market with its unique selling proposition: it exclusively rented out Tesla vehicles. It had placed a high - stakes bet on the future realization of the autonomous driving Robotaxi business model. The foundation of its business model rested on the assumption that Tesla vehicles would hold their value well (not depreciate) and could keep generating revenue once they were repurposed as Robotaxis. However, the past two years have seen Tesla slash the prices of its new cars. This price reduction has had a knock - on effect, causing the residual value of used electric vehicles to plummet. Moreover, the much - touted promise that "consumers' vehicles could be transformed into driverless taxis" has remained unfulfilled. As a result, Mistergreen has been forced to make significant write - downs on its fleet assets. Elon Musk, the face of Tesla, had once asserted that Tesla vehicles were assets that appreciated in value. Relying heavily on this claim, Mistergreen made highly leveraged investments. But in reality, the depreciation rate of Tesla vehicles has surpassed the industry average. At the height of its operations, the company boasted a fleet of over 4,000 Tesla vehicles. However, with the collapse of residual values, it has incurred substantial losses. Now, the company finds itself in a position where it is unable to repay its bonds. Investors estimate that the losses could run into tens of millions of dollars. At present, several leasing companies are poised to take over the remaining fleet of Mistergreen.