Tesla has denied claims that some of its vehicles are prone to accelerating unintentionally. A raft of customer complaints have been submitted to the National Highway Transportation Safety Administration (NHTSA) regarding Tesla vehicles, but the company vehemently rejects these allegations.
There were 127 customer complaints submitted to the NHTSA regarding Tesla vehicles manufactured between 2013 and 2019. Tesla models S, X, and 3 are affected, with Tesla drivers citing certain and unintended acceleration in several potentially dangerous incidents.
Responding to the petition, Tesla asserted that in an official statement on the company’s website:
“[Tesla] investigates every single incident where the driver alleges to us that their vehicle accelerated contrary to their input, and in every case where we had the vehicle’s data, we confirmed that the car operated as designed”
Tesla has also alleged via Twitter that the petition presented to the NHTSA is completely false, asserting that it was raised by a company that is short selling Tesla on the stock exchange. Short selling means that an individual or organization predicts that the stock of a company will diminish in value.
CNBC had previously reported that the petition was raised by the investor Brian Sparks.
Tesla has provided significant detail on its rejection of the allegations, asserting that it has access to independent position sensors, which are able to gauge the position in which accelerator pedals are placed. Tesla also uses the autopilot sensors in order to identify and establish any potential panel misapplications.
The company has also revealed that it has entered into discussions with the NHTSA, and that it has already been established that its vehicles were functioning properly in every case examined.
Tesla CEO and founder, Elon Musk, has repeatedly cited what he deems unfair pressure applied on the electric car manufacturer by short sellers. This has led Musk to even consider removing Tesla from the stock exchange, in order to take the company private.
Regardless of whether Musk’s complaints are legitimate, it is known that Tesla has been the most heavily shorted stock in the United States on several occasions. Nonetheless, despite the fact that many market investors believe Tesla stock to be overvalued, its share price has performed particularly well over the last six months, nearly tripling between June and December 2019, to exceed $500.
Its success in the market and rapid rise in value has seen Tesla supplant many of the world’s most valuable car manufacturers. And the company will imminently overtake Volkswagen as the world’s second-largest automaker by market value.
Central to the rise in Tesla stock has been the opening of a brand new plant in China, which will handle a good deal of Tesla manufacturing. Musk has already announced a similar development in Berlin, Germany, but recent reports suggest that this latest factory has encountered a few obstacles.
Tesla is planning to manufacture 500,000 vehicles in its German plant, eventually matching the already established outlet in China.