Tesla Trades Weaker After Crash Jolts Reputation of ‘Full Self-Driving’ Technology

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imageStock Markets1 hour ago (Apr 19, 2021 13:10)

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By Dhirendra Tripathi

Investing.com – Tesla (NASDAQ:TSLA) shares traded nearly 3% lower in Monday’s premarket after a fatal crash in Texas at the weekend involving the company’s 2019 Model S raised fresh questions about dented the EV maker’s ambition of successfully making a fully-autonomous vehicle.

Harris County police said two people died when the Tesla car left the road and crashed into a tree. Neither man was sitting in the driver’s seat, suggesting that they had relied on the car’s ‘full self-driving’ software to navigate.

Tesla has already told the National Highway Transportation Safety Authority that its FSD software, in its current state, cannot provide more than Level 2 autonomy.

The accident is not the first in the company’s short history. Tesla has repeatedly missed chief executive Elon Musk’s forecasts of when it will launch a fully autonomous vehicle. The company and founder Elon Musk admitted some months ago the company’s latest software iteration will not reach level-3.

The level-3 autonomous technology liberates drivers from constantly monitoring the system, although it requires them to take over when alerted by the machine.

Tesla Trades Weaker After Crash Jolts Reputation of ‘Full Self-Driving’ Technology

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