Company Tesla. Federal regulators discovered that (TSLA)'s Full Self-Driving (FSD) Beta software, which is used by about 90% of Tesla vehicles on city streets, could result in crashes. As a result, (TSLA) will recall 362,758 vehicles.
According to a recall notice published on the National Highway Traffic Safety Administration's (NHTSA) website Thursday, the software caused the Tesla cars to "exceed speed limits" or travel in an "unsafe" or "unpredictable" manner while navigating intersections.
"The FSD Beta system may allow the vehicle to behave unsafely around intersections, such as driving straight through an intersection while in a turn-only lane, entering a stop sign-controlled intersection without coming to a complete stop, or driving into an intersection during a steady yellow traffic signal without exercising appropriate caution.
The NHTSA also warned that the system "may not adequately account for the driver's adjustment of the vehicle's speed to exceed posted speed limits or respond insufficiently to changes in posted speed limits.".
Cars that have installed the FSD beta software or are scheduled for installation will be affected by the recall. Vehicles from the following years and models are included in the recall: Model S from 2016 to 2023, X and 3 from 2017 to 2023, and Y from 2020 to 2023. By April 15, the business will send out a free "over-the-air (OTA) software update" and notify car owners by letter.
The most advanced autopilot system offered by Tesla, FSD Beta, gives users access to some unfinished features. Drivers can subscribe for $99/month or $199/month depending on their prior purchases, or they can pay a lump sum of $15,000 to activate FSD Beta.
According to SEC filings, Tesla generated $324 million in FSD-related revenue in the fourth quarter of 2022. Tesla has had to recall vehicles before because of problems with FSD software. After the NHTSA discovered that FSD Beta could enable a car to perform a rolling stop, in which it fails to come to a complete stop at a stop sign, Tesla recalled nearly 54,000 vehicles last year.
Another crash is reportedly being caused by Tesla's (TSLA) Autopilot.
Following reports of yet another crash involving a vehicle using the Autopilot feature, the Autopilot mode in Tesla's (TSLA) electric vehicles is proving to be the company's Achilles Heel. On Aug. 28. 2021, a Tesla Model 3 struck a state highway patrol cruiser in Orlando, missing the officer who had stopped to assist a disabled driver on the road. The Tesla involved in the collision had the Autopilot feature activated, according to Florida Highway Patrol.
The National Highway Traffic Safety Administration is already looking into the business for a string of collisions involving its vehicles that happened between January 2018 and July 2021 in nine different states. The agency reports that the accident in August was the 12th to involve a Tesla vehicle.
How the Autopilot Function in Tesla Works.
According to the manufacturer, autopilot is a standard feature in every new car they make. Tesla owners who ordered their vehicles without the feature can add the Autopilot and self-driving packages for an extra fee to be added later.
Advanced driver assistance systems like Autopilot improve comfort and safety while driving. The workload you have as a driver is decreased when Autopilot is used properly. Eight external cameras, twelve ultrasonic sensors, and a potent onboard computer are included in every new Tesla vehicle to add an extra layer of safety to help you navigate your journey.
Tesla's advanced suite of cameras and neural net processing are used to deliver Autopilot and related features in the Model 3 and Model Y built for the North American market. These vehicles are no longer equipped with radar. Radar is still included in the Model S and Model X.
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Even if their car has this feature, the company advises drivers not to become complacent. Their hands should always be on the wheel and they should pay close attention. In fact, while the feature is active, the driver must always be prepared to resume normal operations.
Elon Musk, the CEO of Tesla, claimed in a tweet that Autopilot-equipped cars had a 10x lower crash risk than the typical car. However, detractors claim that these statistics are incomplete and ignore the average age of cars on American roads, which is about 12 years old.
The National Highway Traffic Safety Administration wants to remind everyone that no commercially available cars today have self-driving capabilities. Every vehicle on the market needs a human driver to be in charge at all times, and all state laws hold human drivers accountable for driving their cars, according to the NHTSA.
Self-Driving Statistics.
Twelve crashes, some fatal, were reportedly caused by Tesla's Autopilot feature, according to the NHTSA. In May 2021, a driver in Southern California lost his life when his Model 3 collided with another vehicle while the automated driving system was only partially activated.
Tesla is not the only business developing or testing self-driving technology, let alone one whose cars have been in accidents. With manufacturers like Ford, General Motors, Lexus, and Volvo throwing their names into the hat, autonomous vehicles are a significant segment of the automotive industry and account for $54 billion of the global auto market.
A number of well-known companies, including Apple, Uber, Google, and Amazon, are embracing the technology and testing out self-driving cars to streamline their services. According to experts, this market has a lot of potential and could increase by about 10 times before 2030.
When one of Google's self-driving cars was involved in an accident in February 2016, the company's abilities came under fire. A Lexus SUV was driving at two miles per hour when it struck a bus as it was changing lanes. No injuries, according to the authorities.
In May 2018, a different Google vehicle collided with another vehicle. When the van collided with another van, it was in self-driving mode and contained a driver. A pedestrian was killed in Tempe, Arizona in 2018 after being struck by a car operating in self-driving mode as she rode her bike across the street.
According to reports, this was the first autonomous vehicle fatality ever. According to the authorities, the safety driver of the car, who was operating it while working for Uber, was "visually distracted" by her cellphone and did not take control of it at the crucial moment. After the incident, the company said it had halted its self-driving testing.
Tesla Investors Ignore Recent News.
Any impact the crashes may have had on the company's stock has undoubtedly subsided. After hearing about the Florida crash, Tesla stock traded at $736, essentially unchanged from the day before.
This stands in stark contrast to the earlier investor concerns that caused the stock price to decline. After the NHTSA announced its investigation in the middle of August, the stock fell by more than 4%.
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Following the NTSB's finding that the Autopilot feature was activated during a fatal crash in March of that year, it dropped by 8% in 2019.
There may be two causes for investors' lack of interest in the most recent news. Tesla has become an expert at navigating regulations despite the fact that it has dealt with numerous safety issues. Most Autopilot technology investigations have exonerated the feature from responsibility for Tesla car mishaps and crashes. Furthermore, the sales of its cars, which continue to rise on a quarterly basis, have not been hampered by the investigations.
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