Tesla stock drops after reports of NHTSA investigation into Autopilot system after crashes

MW Tesla stock drops after reports of NHTSA investigation into Autopilot system after crashes

Shares of Tesla Inc. $(TSLA)$ dropped 1.8% in premarket trading Monday, after reports that the U.S. government has launched an investigation into the electric vehicle maker's Autopilot system, after reports of multiple crashes into first-responder vehicles. The reports cite a National Highway Traffic Safety Administration report, which said the investigation covers an estimated 765,000 Tesla vehicles, including Model Y, Model X, Model S and Model 3 vehicles. The report says since January 2018, there have been 11 crashes, with Tesla vehicles striking one or more vehicles involved in first-responder scenes, resulting in 7 injury incidents with 17 injuries reported and one death. Tesla did not immediately respond to a request for comment. Most of the incidents took place in the dark, and the Tesla vehicles all had Autopilot or Traffic Aware Cruise Control engaged, the report said. Tesla's stock has gained 1.6% year to date through Friday, while the S&P 500 has rallied 19.0%.

-Tomi Kilgore

$(END)$ Dow Jones Newswires

August 16, 2021 09:06 ET (13:06 GMT)

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