Has my stock been accused of fraud?Join over 160k users who know.

Ticker Price Change($) Change(%) Shares Volume Prev Close Open Gain($) Gain(%)
Ticker Status Jurisdiction Filing Date CP Start CP End CP Loss Deadline
Ticker Case Name Status CP Start CP End Deadline Settlement Amt
Ticker Name Date Analyst Firm Up/Down Target ($) Rating Change Rating Current

News

Did Tesla's Software Update Fix Autosteer Problems For 2M Cars? NHTSA Starts Probing (UPDATED)

Author: Anan Ashraf | April 26, 2024 06:31am

Editor’s note: This story was updated with background and context for the NHTSA’s investigation.

The U.S. auto safety regulator has initiated an investigation into Tesla Inc.’s (NASDAQ:TSLA) proposed remedy for the recall of over 2 million vehicles issued in December.

What Happened: In December, Tesla recalled 2.03 million vehicles — its largest ever — equipped with all versions of Autosteer, citing insufficient controls to prevent misuse. The company announced it would address the issue through a software update.

However, concerns arose following post-remedy crash events and preliminary tests conducted by the National Highway Traffic Safety Administration’s Office of Defects Investigation. Consequently, the agency has launched a “recall query investigation.”

Why It Matters: The recall, affecting Tesla’s high-end models S and X, as well as the lower-end Model 3 and Y vehicles manufactured between 2012 and 2023, stemmed from an NHTSA investigation initiated in August 2021. 

The investigation was prompted by eleven incidents involving stationary first-responder vehicles and Tesla cars with Autosteer enabled.

Despite not concurring with the agency’s analysis, Tesla opted to recall the vehicles to resolve the investigation.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read More: Tesla CEO Elon Musk Denies Human Rights Abuses In Most EV Battery Production: ‘Those That Do…Use Very Little'

Posted In: TSLA

CLASS ACTION DEADLINES - JOIN NOW!

NEW CASE INVESTIGATION

CORE Finalist