NHTSA Opens Probe Into Tesla Cybercab Over Missing Manual Controls
TSLA sits 19% above its 52-week low of $297.38.
Summary
NHTSA has opened an Audit Query into Tesla's certification of the Cybercab, questioning whether the vehicle complies with Federal Motor Vehicle Safety Standards given its lack of conventional manual controls like a brake pedal, gas pedal, steering wheel, and mirrors. The agency will examine the technical data Tesla used to certify the Cybercab and whether Tesla improperly determined certain FMVSS are inapplicable. This follows Tesla's commercial deployment of a small number of Cybercabs in Austin, Texas on Thursday, with plans to expand. The probe directly threatens the Cybercab's regulatory approval and could halt or delay its rollout, a key growth initiative for Tesla. Watch for NHTSA's findings and any required design changes or certification revocations.
Updates
· Wiseek News — Tesla shares fell about 6% on the news. Slovenia granted temporary type approval for FSD Supervised, and Tesla exported 36,119 vehicles from Shanghai in August.
At the time of this announcement, TSLA was trading at $353.00 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $1.4T. The 52-week trading range was $297.38 to $498.83. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.