Tesla Investors Are Suing Elon Musk Over His Disastrous Robotaxi Debut
They're accusing him of securities fraud.
Tesla shareholders have sued CEO Elon Musk and his carmaker as part of a proposed class action lawsuit, claiming that the billionaire had hidden significant risk with the company's robotaxis.
As Reuters reports, the lawsuit charges that Tesla's failure to clarify the risks amounts to securities fraud.
It's a major escalation, highlighting significant discontent, even among its own investors, with the way the EV maker's early testing of its long-awaited autonomous ride-hailing service has panned out.
We've come across footage of robotaxis driving twice the speed limit or down the opposing lane of traffic. We've also seen them brake erratically, and jerk the steering wheel back-and-forth.
Critics have also chastised Musk's decision to rely exclusively on visual cameras — rather than LIDAR and radar sensors, like Tesla's competitors — which they say is likely to undermine the vehicles' capabilities and potentially put passengers in danger.
https://futurism.com/tesla-investors-suing-elon-musk-disastrous-robotaxi-debut
