Tesla’s alleged unintended acceleration petition filed by short seller

In a statement, Tesla Inc responded to the National Highway Traffic Safety Administration (NHTSA) statement saying there was no unintended acceleration in its vehicles.

The development comes in the wake of the U.S. regulator saying it would review a petition and release a redacted version of a complaint which alleged that 500,000 “Tesla vehicles experience unintended acceleration at rates far exceeding other cars on the roads.”

The petition had urged the agency to recall all Tesla vehicles, including the Model S, Model X and Model 3, produced from 2013.

Tesla said, the petition was “completely false” and was brought forward by a short-seller.

According to CNBC, Brian Sparks, who is currently shorting Tesla stock, submitted the petition in September.

“Over the past several years, we discussed with NHTSA the majority of the complaints alleged in the petition. In every case we reviewed with them, the data proved the vehicle functioned properly,” said Tesla in a blog post.

Last week, the NHTSA had said it “will carefully review the petition and relevant data.”

Sparks could not be immediately reached for comment.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s