Tesla Bull Gary Black Reacts As EV Maker Settles Fatal 2018 Autopilot Crash Case: 'There's Always Uncertainty With A California Jury'
Portfolio Pulse from Benzinga Neuro
Tesla Inc (NASDAQ:TSLA) has settled a lawsuit related to a fatal 2018 crash involving its Autopilot system. The case, which involved the death of a former Apple Inc. (NASDAQ:AAPL) engineer, had been contested by Tesla, which argued it was not liable as drivers control the vehicle in Autopilot mode. The settlement details were not disclosed. This lawsuit is among several involving Tesla's Autopilot technology set for trial this year. Tesla has faced scrutiny over its Autopilot and Full Self-Driving (FSD) technologies, including a recent fatal accident involving a Tesla recruiter.
April 09, 2024 | 3:24 am
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NEUTRAL IMPACT
The involvement of a former Apple engineer in the fatal crash indirectly associates Apple with the case, but the settlement and its outcomes are unlikely to have a direct short-term impact on Apple's stock.
Although a former Apple engineer was involved in the crash, the lawsuit and its settlement are primarily concerns for Tesla and its Autopilot technology. There is no direct implication for Apple or its operations, making any impact on Apple's stock minimal to non-existent in the short term.
CONFIDENCE 90
IMPORTANCE 5
RELEVANCE 10
NEUTRAL IMPACT
Tesla's settlement of the lawsuit may alleviate some legal pressures and public scrutiny over its Autopilot technology in the short term. However, ongoing trials and public perception of Autopilot safety could continue to influence investor sentiment.
The settlement removes immediate legal uncertainty and potential financial liabilities associated with this specific case. However, the broader context of ongoing trials and public scrutiny over Tesla's Autopilot and FSD technologies suggests a neutral short-term impact on the stock, as investor sentiment could be swayed by both positive and negative developments in this area.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90