Monday’s announcement means that Tesla Models Y, X, S, and 3 from 2014 to 2021 around 765,000 Tesla autos will be under review. The car company’s shares fell 5% after the news.
Even after this week’s dip, Tesla’s stock price still remains up by over 8% on a year-over-year basis.
Auto-pilot crashes may lead to more regulation
NTSB regulators have been critical of what they claim has been a “hands-off approach to oversight that poses a potential risk to motorists and other road users”. And the NTSB has the power to impose regulations.
Tesla’s CEO, Elon Musk, has come under fire for claiming his team will have “the basic functionality for level-5 autonomy complete this year.” Currently, self-driving technology in Tesla’s auto-pilot is partial automation or level 2.
Earlier this year, NTSB chair Robert Sumwalt said Tesla had released a “beta version” of its software for testing on public roads with limited oversight. There have been suggestions that Tesla is misleading car owners regarding the technology’s abilities.
