USA agency eyes crash of Tesla with control system

Given regulators' reaction to the fatal Uber crash, "we see a large risk" that the self-driving equipment and capabilities Tesla has been touting to customers many not meet the eventual government standards, he wrote.

A federal probe into the incident, in which a woman was killed whilst walking her bike across the street, is now underway and Arizona officials said Monday that Uber would be banned from future tests until the investigation is concluded.

The investigation is the latest by federal authorities into a crash involving a Tesla vehicle. NTSB said the issues being examined include the post-crash fire and removing the vehicle from the scene. The California Highway Patrol says the SUV caught fire for unknown reasons.

The company said it was working with authorities to recover the logs from the computer inside the vehicle to try to gain a better understanding of what happened.

Tesla slumped 8.22 per cent after the National Transportation Safety Board announced it was investigating a fatal crash last week involving a Tesla automobile in California. NTSB investigators want to know if the car's "auto pilot" system was activated at the time of the crash.

In January of previous year, the US Transportation Department closed an investigation into the fatal 2016 crash in Florida of a Tesla on autopilot, finding that no "safety-related defect" had caused that accident.

Tesla Inc shares fell sharply again on Wednesday, reeling from a credit downgrade of the electric auto maker by Moody's Investors Service, federal probes of a fatal crash and concerns about Model 3 production.

- Tesla simultaneously extended its "deepest sympathies" for a fatal, fiery crash and blamed the severity of it on the fact that a highway barrier on USA 101 in Silicon valley had either been removed or crushed without being replaced.

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Shares of Tesla, Inc. took a dip of more than 7%, or $22 to reach an intraday low of $281. The pedestrian died from the collision.

The CEO of Tesla, aerospace company SpaceX and The Boring Co. employs a strategy of funding growth through a series of capital raises.

Tesla Inc.'s credit rating was downgraded by Moody's Investors Service on Tuesday as the electric auto company burns through cash, fails to meet production expectations and may soon have to raise more than $2 billion.

"Tesla's ratings reflect the significant shortfall in the production rate of the company's Model 3 electric vehicle", Moody's said.

The Investor Service has a Negative outlook on Tesla, down from a Stable one previously.

In August, they lined up for the chance to finance Tesla Inc.'s ambitious rollout of its Model 3 sedan. "Prospects for addressing its liquidity requirements (whether equity, convertible notes, or debt) will be supported if the company can establish credibility for reaching Model 3 production levels - 2,500 per week by the end of March, and 5,000 per week by the end of June".

Sell side analysts plays vital role in buying and selling a stock where 1 analysts rated Tesla Motors, Inc. Before the accident was revealed, the Street already had the jitters over potential liquidity concerns in connection with the delayed Model 3 ramp.

(Copyright © 2015. All Rights Reserved.)
 
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