Business & Tech
Tesla Stock Tanks Following Deadly Crash, NTSB Probe
A Tesla Model X driver was killed in a fiery crash in Mountain View last week.
FREMONT, CA - The NTSB announced on Tuesday that it is investigating last week's deadly crash on Highway 101 in Mountain View involving a Tesla Model X. The Tesla crashed into a highway barrier, and then two other vehicles. The driver died at the hospital of his injuries.
The NTSB tweeted on Tuesday, "Unclear if automated control system was active at time of crash. Issues examined include: post-crash fire, steps to make vehicle safe for removal from scene."
The Tesla caught fire, including the vehicle's lithium batteries. A Tesla engineer was brought to the scene to advise the fire department on safely extinguishing the fire and moving the vehicle afterwards. The lithium could reignite hours after the fire is put out.
Find out what's happening in Fremontfor free with the latest updates from Patch.
Investors on Tuesday were quick to dump the automaker's stock. Shares of Tesla fell 25 points on Tuesday, a loss of more than 8 percent. The tumble continued in after-hours trading, with shares falling another 4.68. The total one-day loss is close to 10 percent of the stock's value.
Tesla reports that it is cooperating with the NTSB investigation.
Find out what's happening in Fremontfor free with the latest updates from Patch.
2 NTSB investigators conducting Field Investigation for fatal March 23, 2018, crash of a Tesla near Mountain View, CA. Unclear if automated control system was active at time of crash. Issues examined include: post-crash fire, steps to make vehicle safe for removal from scene.
— NTSB_Newsroom (@NTSB_Newsroom) March 27, 2018
In a blog post on Tuesday, Tesla noted that the computer logs of the Model X have not yet been recovered because of "extensive damage." However, the company touted the safety record of its Autopilot feature, noting that "Our data shows that Tesla owners have driven this same stretch of highway with Autopilot engaged roughly 85,000 times since Autopilot was first rolled out in 2015 and roughly 20,000 times since just the beginning of the year, and there has never been an accident that we know of."
This is a Google Maps image of the location where the collision occurred. We don't have a current picture available but this is the type of barrier the Tesla collided with at freeway speeds. pic.twitter.com/cuXP4ivjdC
— CHP Redwood City (@CHP_RedwoodCity) March 23, 2018
The blog post also pointed out that a safety barrier in front of the concrete highway barrier hit by the Model X had been shortened, providing before and after photos.
Tesla has about 10,000 employees in Fremont at its lone assembly plant and at multiple office buildings.
See Previous:
- Tesla Driver Dies After Fiery Crash On Hwy 101 In Mountain View
- Fiery Mountain View Crash Victim Identified
-Image by Maggie Avants, Patch
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