United States investigating fatal Tesla crash in California

29 March, 2018, 02:31 | Author: Teresa Adams
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Our data shows that Tesla owners have driven this same stretch of highway with Autopilot engaged roughly 85,000 times since Autopilot was first rolled out in 2015 and roughly 20,000 times since just the beginning of the year, and there has never been an accident that we know of. Several news outlets also noted that - separately - Nvidia, supplier of AI software and chips to self-driving trials around the world, including the US, Germany and Japan, suffered a similar (7.8 per cent) dip in share price when it announced that it was halting trials using its technology. While the company has said it expects to end the quarter making 2,500 Model 3s per week, analysts are skeptical.

In 2016, a Florida man died in a Tesla Model S after his Autopilot feature drove the auto into a parked truck. Tesla plans to provide an update on Model 3 production next week. Until Tesla is able to safely get those logs from the Model X, it won't be able to understand what happened in the minutes leading up to the crash.

The driver of the vehicle, Wei Huang, was headed southbound on California's Route 101 when his Model X crashed headfirst into the safety barrier section of a divider that separates the carpool lane from the off-ramp to the left. The driver's LinkedIn profile identifies him as a software engineer who joined Apple Inc.in November after more than a decade at Electronic Arts Inc.

A representative for Tesla didn't immediately respond to an emailed request for comment.

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On Tuesday, the National Transportation Safety Board announced it is opening an investigation into a fatal vehicle crash involving a Tesla in California last week.

The Tesla blog post said Tesla battery packs are created to ensure that a battery spreads slowly in the rare circumstance it catches fire.

The collision caused extensive damage partly because a safety barrier meant to reduce the impact into a concrete lane divider had been removed or crushed in a prior accident without being replaced, according to Tesla. During the same quarter last year, the firm earned ($0.69) EPS. equities research analysts forecast that Tesla will post -15.15 EPS for the current year. The deadly Tesla crash in California has sparked a regulatory investigation, which is only adding to the liquidity concerns and worries about the Model 3 ramp. And that's not good news for TSLA stock, given that Autopilot is one of the key features of Tesla cars.

The safety board's probe into the Mountain View crash is the second this year involving the company's vehicles. Other carmakers are supplementing their systems with a laser-based system called lidar. The pedestrian died from the collision. Moody's said the ratings "reflect the significant shortfall in the production rate of the company's Model 3 electric vehicle".

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While Tesla continues to benefit from strong market acceptance of its cars and growing regulatory support, there's a risk that Tesla has to "undertake a large, near-term capital raise in order to refund maturing obligations and avoid a liquidity short-fall", Moody's said.

Model 3 deliveries have fallen short of Musk's lofty goals since the company started building it in July. While investors were doubtful that his auto startup could even make an electric vehicle, Musk succeeded in building a company that now competes against some of the industry's most powerful, long-standing leaders, with its Model S sedan receiving the highest quality ratings.

The stock of Tesla dropped more than 6% on Wednesday to its lowest level since March 2017.

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