Tesla/Victor Tangermann
Familiar Villain

Tesla Blames Crash Reports on Short-Seller

byVictor Tangermann
1. 21. 20
Tesla/Victor Tangermann

Tesla says the claims were “completely false” and “brought by a Tesla short-seller.”

Crash Course

Reuters reported last week that the National Highway Traffic Safety Administration (NHTSA) may launch an investigation into driver complaints about crash-causing “sudden unintended acceleration” that might affect half a million Tesla vehicles.

But Tesla fired back in a strongly worded statement Monday, saying the claims were “completely false” and “brought by a Tesla short-seller.”

Big Short

Short sellers are investors who bet against a stock, potentially profiting from a drop in its value. Tesla CEO Elon Musk has a long history of complaining about short sellers, who he’s frequently accused of trying to destroy his electric car company.

The news comes after soaring Tesla shares made it the most valuable auto company in US history earlier this month — to the great detriment of short sellers.

Advertisement

Brake Dance

The petition sent to the NHTSA cited driver complaints about unexpected accelerations that allegedly caused Tesla vehicles of various models and production years to crash into parked cars, chain link fences, and even garage doors.

But Tesla says that’s nonsense.

“We investigate every single incident where the driver alleges to us that their vehicle accelerated contrary to their input, and in every case where we had the vehicle’s data, we confirmed that the car operated as designed,” reads the statement. “In other words, the car accelerates if, and only if, the driver told it to do so, and it slows or stops when the driver applies the brake.”

READ MORE: Tesla says faulty acceleration allegation is ‘completely false’ [The Verge]

Advertisement

More on Tesla: Government Might Investigate Teslas Accelerating Unexpectedly


Care about supporting clean energy adoption? Find out how much money (and planet!) you could save by switching to solar power at UnderstandSolar.com. By signing up through this link, Futurism.com may receive a small commission.

Share This Article

Copyright ©, Camden Media Inc All Rights Reserved. See our User Agreement, Privacy Policy and Data Use Policy. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Futurism. Fonts by Typekit and Monotype.