Tesla’s Cybercab Launch Faces Regulatory Scrutiny
Tesla hosted a private launch event for its Cybercab in Austin on Thursday, but the highly anticipated unveiling did not include livestreaming or a public announcement, and CEO Elon Musk was notably absent. Following the event, Tesla’s shares dropped by 6%, continuing a year-to-date decline of 21.4%.
The National Highway Traffic Safety Administration (NHTSA) opened an investigation into Tesla’s self-certification of the Cybercab, which lacks conventional controls like steering wheels and brake pedals. This regulatory inquiry comes as Tesla seeks to begin commercial operations in a geofenced area of Austin, fueling concerns about potential delays in the rollout of its autonomous vehicle service.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
