CEO Elon Musk Hints A Top Secret Tesla Masterplan

Tesla prepares to reveal a new masterplan image

University of MI law professor and former SEC attorney Adam Pritchard told the WSJ, though, that the fact the Tesla’s stock price “bounced back very promptly” after news about the crash came out was “fairly persuasive evidence that it was not material”. The recent enquiry by the SEC is in its initial stages and might not lead to any legal action. The owner of a Model X – Tesla’s newest, SUV-styled model – said the auto was using Autopilot when it crashed and rolled over.

Joshua D. Brown, who was killed in the Tesla crash, had previously posted videos touting the abilities of the Autopilot feature. 1 software update tweaked the Autopilot system to allow the Tesla to travel down roads without a center divider at restricted speeds.

NHTSA is sending a five-person team to Florida later this week to investigate that crash, said Christopher O’Neil, a spokesman for the agency, which makes recommendations to regulators and companies about transportation-related safety issues. It pointed to a June 30 blog post on Tesla’s Web site that described Autopilot as “as assist feature that requires you to keep your hands on the steering wheel at all times”.

The National Highway Traffic Safety Administration is probing two crashes, one of them fatal, involving Tesla vehicles that were running on the Autopilot self-driving system.

Tesla also said on Monday that it was looking into a crash in Montana. Tesla did not provide any further details. Musk had not revealed the crash, which occurred May 7, to shareholders before a public offering of $2 billion in shares nine days later.

Musk ran into criticism for Tesla’s bid of up to $2.5bn last month for the financially troubled firm SolarCity, which installs solar panels and is run by Musk’s cousin, Lyndon Rive. Longtime Tesla followers will recognize this as the plan Musk formally introduced in August of 2006, which described Musk’s eventual goal of releasing the Model 3, the company’s affordable EV now slated for a late 2017 release. If it happens, the that’s about 32 times Tesla (TSLA)’s current valuation.

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