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Federal authorities say a "critical safety gap" in Tesla's Autopilot system contributed to at least 467 collisions, 13 resulting in fatalities and "many others" resulting in serious injuries.
Former Tesla executive Drew Baglino, who announced his resignation earlier this month, sold shares in the electric vehicle company worth around $181.5 million, according to a filing on Thursday with the SEC.
By just about every measure, Tesla's first-quarter earnings report on Tuesday was dreary. The company missed estimates on the top and bottom lines. Revenue fell by 9% year over year, the worst decline since 2012. Auto sales dropped 13% from the same period in 2023. Free cash flow turned negative.
Tesla is set to report first-quarter earnings after the bell on Tuesday.
Tesla shares fell for a seventh straight day, reaching their lowest since January 2023, as further price cuts over the weekend added to mounting concerns heading into the company's first-quarter earnings report Tuesday.
Tesla has issued a voluntary recall of 3,878 Cybertrucks to fix a "stuck pedal" issue that had been depicted in a viral TikTok video posted last week by owner Jose Martinez.
Tesla CEO Elon Musk sent an internal email on Wednesday, telling staffers that the company sent out some severance packages that were too low to a number of laid-off workers this week.
Tesla is laying off 285 employees in the state of New York as part of a broader restructuring according to a WARN notice filed in the state. Most of these employees worked at the company's Buffalo factory and a handful at a store and service center in the area per the filing.