Settlement requires Musk to step down as Tesla’s Chairman; Tesla to appoint additional independent directors; Tesla and Musk agree to pay $40 Million in penalties. The Securities and Exchange Commission announced September 29 that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla Inc., has agreed to settle the securities fraud charge brought by the […]
Elon Musk Charged with Securities Fraud for Misleading Tweets on Taking Tesla Private
The Securities and Exchange Commission yesterday charged Elon Musk, CEO and Chairman of Silicon Valley-based Tesla Inc., with securities fraud for a series of false and misleading tweets about a potential transaction to take Tesla private. On August 7, 2018, Musk tweeted to his 22 million Twitter followers that he could take Tesla private at […]
HLDI Reports Tesla Model S with Advanced Features Have Fewer Physical Damage Claims
According to the a report by the Highway Loss Data Institute (HLDI) detailed in the Insurance Institute for Highway Safety (IIHS) Status Report, the combined crash avoidance features on the Tesla Model S are reducing third-party physical damage and injury liability claims. Tesla’s “Autopilot” is limited to lowering collision claims. HLDI compared the claims experience […]
Tesla’s Musk Says Company-Owned Collision Repair Centers Opening in Top 10 U.S. Markets this Month
Promises dramatic improvement in cost and time for body repairs. At Tesla’s 2018 Annual Shareholder Meeting on Tuesday, Elon Musk, Tesla’s Chairman and CEO, provided an update on the vehicle manufacturer’s previously announced plans to open its own collision repair centers. In response to a question about the the expansion of Tesla service centers and […]
Center for Auto Safety and Consumer Watchdog Request FTC Investigation into Tesla Autopilot
The Center for Auto Safety and Consumer Watchdog today called on the Federal Trade Commission to investigate what they say are dangerously misleading and deceptive advertising and marketing practices and representations made by Tesla Motors, Inc. regarding the safety and capabilities of its Autopilot feature. At least two people are dead and one is injured […]
Tesla Now Says Company-Owned Collision Repair Centers Coming in 2018
In a letter to investors accompanying their first quarter earnings release, Tesla said it still plans on opening company-owned body shops. Last year, responding to online criticism about the backlog of body repairs for its vehicles, Tesla announced it would open collision repair centers during 2017. The company has been unable to meet its ambitious […]
Consumers Union Calls on Tesla to Improve Safety of “Autopilot” Driver-Assist System
Consumers Union, the advocacy division of Consumer Reports (CR), called on Tesla to move quickly to improve the safety of its “Autopilot” driver-assist system and to publicly release the detailed data behind the company’s safety claims. The company recently acknowledged that this technology was engaged at the time of a recent fatal crash in California, […]
Spanesi Collision Repair Equipment Approved by Tesla
On January 16, Tesla, Inc. announced they have added three new Spanesi structural repair benches and the Touch Measuring System to their OEM approved equipment list, for Tesla Approved Body Shop program. “Spanesi is excited to be a part of approved list of collision repair equipment recognized in the Tesla Approved Body Shop program,” states […]
Tesla to Open Company-Owned Body Shops
Move to “significantly improve” the customer experience for body repair. Will also expand certified network. In a letter to investors accompanying the release of its first quarter earnings yesterday, Tesla Motors announced it would open its own body shops later this year. Tesla currently sells and services its vehicles itself and the company has a […]
NHTSA Closes Investigation into Tesla AutoPilot Crash
Office of Defect investigation finds no safety-related defect trends. Data shows 40 percent reduction in crash rates for Tesla vehicles after introduction of autosteer. The U.S. Department of Transportation’s National Highway Traffic Safety Administration’s (NHTSA) Office of Defect Investigation (ODI) yesterday released a report and closed its investigation into 2014-2016 Tesla Model S and X […]