Tesla Shares Sink After NHTSA Announces Formal Investigation Into Autopilot For All Models From 2014 To 2021
After what has felt like eons of inaction while Teslas all over the country unintendedly accelerate into inanimate objects, it looks like regulators in the United States have finally come to their senses.
This morning it was announced that the U.S. had opened a formal investigation into the company’s Autopilot feature, according to Bloomberg.
*U.S. OPENS FORMAL INVESTIGATION OF TESLA AUTOPILOT: AP
*TESLA FALLS TO PREMARKET LOW ON AUTOPILOT INVESTIGATION REPORT
*U.S. NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION OPENS PROBE OF TESLA AUTOPILOT IN 2014-2021 MODELS Y, X, S, AND 3 — AGENCY
Tesla shares quickly sunk toward $700, down about 2%, in pre-market trading.
The U.S. National Highway Traffic Safety Administration (NHTSA) said it is opening a probe into Tesla’s Model X, S and 3 for model years 2014-2021. The broad range of models and model years means that this could be the broad investigation that skeptics have been requesting for years.
The NHTSA says the investigation will assess technologies, methods “used to monitor, assist, and enforce the driver’s engagement” during autopilot operation, according to Bloomberg.
The investigation looks to finally have been prompted by Teslas on various highways slamming into parked emergency vehicles – many cases of which we have highlighted here on Zero Hedge. Since January 2018, the NHTSA says it has identified 11 crashes where Tesla models have “Have encountered first responder scenes and subsequently struck one or more vehicles involved with those scenes”
Mon, 08/16/2021 – 07:54