Tesla investigated by NHTSA over ‘Full Self Driving’ feature

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Tesla is being investigated.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:04It's a mixed bag on Wall Street.

00:06Netflix provided a lift for the Nasdaq.

00:08The streaming leader topped forecasts

00:10and added more subscribers than predicted.

00:13The Dow, however, is under pressure due to American Express.

00:16The credit card company beat profit targets

00:18and guided full year estimates higher,

00:20but sales came in lighter than anticipated.

00:24Turning to other headlines,

00:26the safety of Tesla's so-called full self-driving system

00:30is being put under the microscope

00:32at the National Highway Traffic Safety Administration

00:35after 31 fatalities.

00:38One death in particular involved a pedestrian

00:41who was killed by a Tesla driver

00:43with the system fully in use.

00:45According to the records posted on NHTSA's website,

00:48the new probe will focus on, among other things,

00:50quote,

00:56appropriately to reduced roadway visibility conditions,

01:00whether any other similar crashes have occurred

01:03in reduced roadway visibility conditions,

01:05and if so, the contributing circumstances for those crashes.

01:10Right now, FSD is not fully autonomous

01:13and is supposed to be supervised by the driver.

01:16The agency wants to know how FSD responds to conditions

01:20when visibility is low due to natural occurrences

01:24like fog and sun glare.

01:26The early stage probe extends

01:28into the over-the-air software updates used by Tesla.

01:31The agency wants to know the efficacy

01:33and the safety of such updates.

01:36This NHTSA investigation covers 2.4 million Teslas

01:40currently driving on U.S. roads,

01:42including the new Cybertruck.

01:45That'll do it for your daily briefing

01:47from the New York Stock Exchange.

01:48I'm Conway Gittins with The Street.