Elon Musk, CEO of Tesla, has stated that the company’s Full Self-Driving (FSD) technology saves many lives, despite growing criticism over the system’s capabilities.
Saving A Lot Of Lives
Musk recently shared a video on social media that showed a Tesla on FSD swerving to avoid a collision with a man crossing the highway in limited-visibility conditions. According to Musk, “Tesla self-driving saves a lot of lives – the statistics are unequivocal.” He acknowledged that the system still has room for improvement.
Musk also outlined that despite improvements, Tesla will still face lawsuits for accidents that do occur. He claimed that 90% of would-be fatalities are still alive thanks to Tesla’s FSD technology, but many of them won’t even know that their lives were saved.
Questions Remain Over FSD
The National Highway Traffic Safety Administration (NHTSA) has closed its probe into Tesla’s “actually smart summon” feature, but the company still faces a probe into the broader FSD system. The FSD system has faced criticism from investors and analysts, who question its true autonomous capabilities.
Bearish On Tesla
Analysts at J.P. Morgan Chase have turned bearish on Tesla, predicting a 60% decline in the company’s stock performance. This comes despite predictions from other analysts that Tesla will deliver over 1.6 million vehicles this year and that the Robotaxi ramp-up in Austin will remain a crucial catalyst for the company’s stock performance.
Price Action
Tesla’s stock fell 2.15% to $352.82 at market close on Monday, and fell a further 0.83% to $349.88 during the after-hours trading session.
Conclusion
Elon Musk’s claims about Tesla’s FSD technology saving lives are a positive development for the company, but questions remain over the system’s capabilities and safety. As the automotive industry continues to evolve, Tesla will need to address these concerns and demonstrate the effectiveness of its FSD technology to investors and regulators.