Tesla and Elon Musk are facing a lawsuit from shareholders regarding allegations of fraud and claims related to robotaxis, according to TDS.
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The Downshift is The Drive‘s new weekday early morning roundup that offers the latest automotive news from around the globe all in one place. Enjoy TDS alongside your favorite Pop-Tart and coffee.
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I've finished my first cup of coffee, so let's dive in.
🚘 What I’m driving: A 2025 Lincoln Navigator L Black Label occupying my driveway, and it’s impressively large in every dimension, including its lengthy body and 24-inch wheels.
🧑⚖️ Elon Musk and Tesla are facing allegations of securities fraud in a class action lawsuit filed by shareholders who believe the claims regarding self-driving vehicles and robotaxis are exaggerated, rendering the vehicles unsafe.
🔋 The Genesis Electrified G80 luxury sedan has been discontinued as the automaker adjusts to “ever-changing consumer needs and market conditions,” as stated by spokesperson Jarred Pellat.
📉 Rivian reported a net loss of $1.1 billion in Q2, while Lucid has reduced its production forecast for 2025, and both companies are cautioning of challenges ahead due to policy shifts from the current administration.
🚙 The legendary Mercedes-Benz G-Class has reached a milestone, with the 600,000th G-Wagen produced as an electric G 580 featuring EQ Technology.
🏁 Willow Springs International Raceway has announced its relaunch event scheduled for October 11.
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Tesla and Elon Musk are facing a lawsuit from shareholders regarding allegations of fraud and claims related to robotaxis, according to TDS.
Shareholders alleged that Musk and Tesla engaged in securities fraud and hid the dangers associated with the company's "self-driving" vehicles.