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SEC Launches Probe; Tesla Blamed for 3rd Autopilot Crash

Troubles mounting for California battery-carmaker.

by on Jul.12, 2016

Joshua Brown, 40, said his Tesla Autopilot system had prevented an earlier crash before his death in Florida on May 7.

Things are heating up for Tesla Motors, the battery-carmaker finding itself blamed for a third crash using its Autopilot system, even as the U.S. Securities and Exchange Commission reportedly begins an investigation into Tesla’s delayed public disclosure of the first crash.

That May 7 accident led to the death of a 40-year-old former Navy Seal but while Tesla did disclose the situation to the National Highway Traffic Safety Administration nine days later, the company took nearly two months to make a public announcement. It waited until after a $2 billion stock offering, CEO Elon Musk later tweeting that the crash was “not material to the value of Tesla.”

Beyond the Headlines!

Whether that’s accurate could be up to the SEC to decide. Meanwhile, some other critics are calling for an investigation of Tesla’s plan to purchase SolarCity, a deal that has raised flags for some because of CEO Musk’s personal ties to the solar panel maker.


Musk Promises New “Top Secret Tesla Masterplan”

New vehicle lines could be in the works.

by on Jul.11, 2016

Tesla CEO Elon Musk could take the company in a variety of new directions, if past is prelude.

Facing a series of challenges that could determine the long-term success of the California battery-car manufacturers, Tesla Motors CEO Elon Musk has dropped a big hint about the company’s future.

The South African-born entrepreneur issued a tweet on Sunday revealing that he is “Working on Top Secret Tesla Masterplan, Part 2. Hoping to publish later this week.” Fond of social media, Musk has frequently used Twitter, the Tesla blog and other outlets to announce company strategy.

Electrifying News!

The timing could be significant for Tesla. The carmaker is facing a series of challenges and concerns right now, including the controversial takeover of SolarCity Corp., and a pair of crashes that may be linked to the semi-autonomous Autopilot system used on the Tesla Models S and X battery-electric vehicles.