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Tesla investors are suing Musk over autopilot failures

2023-02-28T06:16:01.505Z


Actually, its vehicles no longer need a driver – this is how Tesla advertised its autopilot for a long time. A group of shareholders feel duped and want to hold Tesla boss Musk accountable.


Enlarge image

Tesla crash in Laguna Beach in California: The authorities stated that the autopilot was activated at the time of the accident

Photo: HANDOUT/ REUTERS

Elon Musk likes to advertise with full-bodied promises about the autopilot of his car manufacturer Tesla.

The driver assistance system is "probably better" than a human driver, Musk has said before.

He told investors that after a software update it was possible "to drive to work, to a friend's house or to the supermarket without touching the steering wheel".

A video on the Tesla website said: "The person in the driver's seat is only there for legal reasons.

(...) The car drives itself.«

However, a group of Tesla shareholders feels deceived with such and similar slogans about the Tesla autopilot - and is taking them to court.

They have filed a lawsuit against electric car pioneer and company boss Elon Musk for glossing over the safety and efficiency of the autopilot function.

Several fatal accidents

Tesla has hidden for four years with false and misleading statements that the technology, which could be responsible for several fatal accidents, "poses a serious risk of accidents and injuries," according to the class action lawsuit filed in federal court in San Francisco on Monday.

The share price fell several times after accidents in connection with the driver assistance system and recall campaigns.

CFO Zachary Kirkhorn and his predecessor Deepak Ahuja are also defendants.

Unspecified damages are being sought from Tesla shareholders for the period February 19, 2019 through February 17, 2023.

"As a result of the defendants' wrongful acts and omissions and the sharp decline in the market value of the company's common stock, the plaintiff and other members of the plaintiff class have suffered substantial loss and damage," the complaint continued.

Tesla did not immediately respond to a request from Reuters for comment.

beb/Reuters

Source: spiegel

All business articles on 2023-02-28

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