Tesla Faces Even More Problems After Another Collision

By Chris Lange Updated Jan 11, 11:39PM EST · Published May 14, 1:40PM EDT

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Tesla Faces Even More Problems After Another Collision — © Thinkstock

Tesla Inc. (NASDAQ: TSLA) faces another obstacle in its road, quite literally, after a Model S crashed into a truck late on Friday. While car crashes happen every day, there is some speculation as to whether the autopilot was to blame for this collision.

Reuters reported late Friday that a Tesla Model S was traveling at 60 miles per hour and crashed into a fire truck stopped at a red light in South Jordan, Utah. The Tesla driver suffered a broken ankle and was taken to a hospital, while the firefighter was not injured.

According to witnesses, the Tesla did not brake prior to the impact, adding it was unknown if the autopilot feature in the Model S was engaged at the time.

In a statement Monday, Tesla said that it has not yet received any data from the car and thus does not know the facts of what occurred, including whether autopilot was engaged.

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Currently, the National Transportation Safety Board (NTSB) is actively investigating four traffic incidents involving Tesla vehicles, including this most recent collision.

This is just one of the many problems plaguing Elon Musk and Tesla. The company also has had problems with engineering executives. According to The Wall Street Journal:

Tesla Inc. will be without two important executives just as the electric-car maker struggles to boost production of its first mass-market vehicle and faces doubts about its ability to raise cash.

Matthew Schwall, who was the company’s main technical contact with U.S. safety investigators as the Silicon Valley auto maker races to develop driverless-car technology, left the company for rival self-driving car company Waymo LLC. His departure comes as the National Transportation Safety Board has been investigating multiple crashes involving Tesla vehicles.

Shares of Tesla were last seen trading at $299.75 on Monday, with a consensus analyst price target of $316.92 and a 52-week range of $244.59 to $389.61.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.