Tesla Model 3 Crash That Killed Motorcyclist Is Added to Wider US Probe | Tech News

Tesla Model 3 Crash That Killed Motorcyclist Is Added to Wider US Probe

US auto safety regulators are investigating a crash involving a 2020 Tesla Model 3 that killed a motorcyclist in Utah, the latest in a broader examination of collisions suspected to involve the use of advanced driver-assistance systems.

By:BLOOMBERG
| Updated on: Jul 27 2022, 20:29 IST
Shocking! Elon Musk wants to put cocaine back in iconic Coca Cola
Tesla
1/5 The world’s richest man, Elon Musk has shocked the world by tweeting this yesterday, “Next I’m buying Coca-Cola to put the cocaine back in”. (AP)
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2/5 The tweet was in reference to the beverage’s original recipe. Coca Cola was launched way back in 1886 as a tonic for potential ailments. But the formula was later revised to remove any hint of controversial substances. (HT_PRINT)
Tesla
3/5 However, Coca Cola might prove to be too expensive even for the world’s richest man. Coca Cola has a market cap of a remarkable $284 billion. Currently, it is still a mystery about where Elon Musk will find some $22 billion to fund his $44 bn Twitter buy. In fact, Musk buying Twitter has shaved over $100 bn from Tesla valuation- in a day. Bloomberg reported, "Tesla Inc. wiped roughly $126 billion off its valuation Tuesday as the stock fell 12% on investors’ concern that Elon Musk may sell shares to complete his $44 billion takeover of Twitter Inc." (AFP)
Tesla
4/5 Elon Musk’s own fortune currently stands at $253 billion, but he is far ahead of his rival Jeff Bezos, whose fortune stands at $162 billion. (REUTERS)
Tesla
5/5 But you can never say never for the man who is widely considered a genius behind the world’s biggest EV company Tesla, and who is now carrying out NASA missions with the help of SpaceX. (REUTERS)
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A crash involving a 2020 Tesla Model 3 that killed a motorcyclist in Utah will be added to the ongoing investigation of the advanced driver-assistance systems. (REUTERS)

US auto safety regulators are investigating a crash involving a 2020 Tesla Model 3 that killed a motorcyclist in Utah, the latest in a broader examination of collisions suspected to involve the use of advanced driver-assistance systems.

  • Accident is the 48th since 2016 to be included in the review by crash investigators at the National Highway Traffic Safety Administration, 39 of which involve a Tesla Inc. vehicle
  • Latest crash occurred July 24 near Salt Lake City, KSL.com reported
  • NHTSA is toughening scrutiny of collisions involving the use of new technologies that can automate parts of the driving task, such as keeping a vehicle centered in a lane and navigating turns in certain conditions
  • NOTE: July 18, Tesla Crash That Killed Motorcyclist Is No. 38 in Wider US Probe
  • NOTE: June 15, Tesla Reports Most Automated System-Related Crashes, US Says (1)

Elon Musk Crafts New Master Plan Before Tesla Pulls Off the Old One

At some point, Elon Musk is going to blog again.

Four months have passed since the chief executive officer of Tesla tweeted he was working on a third “master plan” for the electric-car maker. Parts one and two were playful, endearing and hugely effective in burnishing Musk's reputation as a visionary, ginning up excitement among investors and prospective hires. Who wouldn't want to do good for the world by making a difference in global carbon emissions? Does ambition get any bigger than disrupting every major form of terrestrial transport?

Before Musk hits publish on another blog post, though, it's worth taking another look at Master Plan Part Deux, released six years ago this month. Tesla has made incredible strides since 2016, becoming the world's most valuable car company by a wide margin. But it's also fallen short or completely whiffed on each of the four goals its CEO listed.

Let's break them down, one by one:

Integrating energy generation and storage

It was no wonder this came first on Tesla's list of plans six years ago. A month before part deux was published, the company announced it had offered to acquire SolarCity, the debt-laden panel installer run by two of Musk's cousins, for $2.86 billion. The CEO was under pressure to justify what some investors believed amounted to a bailout.

Musk wrote that Tesla would “create a smoothly integrated and beautiful solar-roof-with-battery product that just works,” and “scale that throughout the world.” He said this wouldn't be feasible if Tesla and SolarCity were two different companies.

Tesla just reported its best quarter for solar deployment in more than four years, but the solar roof product Musk touted to help close the SolarCity deal has been plagued by manufacturing and installation difficulties. He's fired executives who led the effort, raised prices and even said in a deposition that it probably would have been better to let SolarCity execute on its own.

Covering all major forms of transportation

Musk made it Tesla's mission to bring a new compact SUV, semi truck, pickup and bus to market. The first of those products was a nod to the Model Y, which has been a runaway hit. The Semi and Cybertruck — prototypes of which debuted in 2017 and 2019 — are years behind schedule, and there's been no sign of a bus.

When Musk opened Tesla's factory in Austin, Texas, in April, he said the Cybertruck and Semi will be in production next year. He put a finer point on when it might be ready during last week's earnings call, saying the company hopes to start deliveries in mid-2023.

Autonomy

Musk's third goal was perhaps his most famous and now controversial: fully self-driving vehicles.

He wrote that all Teslas would have the hardware necessary to navigate streets on their own. The company ended up changing the computers in its cars, requiring retrofits that Musk said would be free, then charged $1,500, then dropped the price to $1,000. Last year, Tesla pivoted away from using radar, five years after its CEO said such sensors may have prevented a fatal crash.

More than 100,000 drivers now have access to Full Self-Driving, a system that's still in beta and still requires fully attentive drivers to keep their hands on the wheel. On Tuesday, the US National Highway Traffic Safety Administration added a 39th incident involving a Tesla vehicle suspected to be using the company's driver-assistance systems to a broader special crash investigation. The agency is also conducting two other probes into whether Tesla's Autopilot is defective.

Sharing

The final objective was an add-on to the full autonomy concept. Musk wrote that Tesla owners would be able to add their cars to a shared fleet that would dramatically lower the cost of owning the company's vehicles.

Tesla not only lacks the robotaxis for a shared network, it lacks a network. Musk's plan was perceived as a potential threat to Uber and Lyft, and indeed Musk said years later that Tesla would compete against those two companies. But in a twist of fate that worked out well for Tesla's market value, the automaker landed a huge order from Hertz last year, and half of the 100,000 vehicles purchased will be rented to Uber drivers.

Owners still can't summon their Tesla from “pretty much anywhere,” in Musk's words, without risking their car running into things. There's no way to earn income from a Tesla sharing app that offsets or exceeds monthly car payments. And the cost of Teslas keeps rising: Musk said during last week's earnings call that prices are “frankly at embarrassing levels,” and that he'd like to lower them as supply shocks and inflation ease.

Will Musk take over Twitter, eventually? Which of the S&P 500's biggest stocks has the most upside? Share your views in this week's MLIV Pulse survey. It takes only one minute and is anonymous.

For the most part, Musk didn't give a time frame for all he wanted to pull off in his last master plan. Tesla may still execute some of what he laid out, and it deserves plenty of credit for forcing other automakers, entrepreneurs and investors to take electric vehicles seriously.

But before readers of Musk's next plan get their hopes up about all he intends to achieve, this track record suggests cautious optimism is warranted.

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First Published Date: 27 Jul, 20:29 IST
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