November 28, 2024 1:25 AM | 2 min read See Also: Tesla Sweetens Referral Program, Allowing Customers To Earn Up To $10,000 As Elon Musk’s EV Giant Races To 500K Q4 Delivery Target Despite recent recalls of the Cybertruck, Chief Bowers stated there was no evidence of mechanical failure causing the accident. The Cybertruck has been recalled six times over the past year for various safety issues, including a recent recall on November 5 due to an electric inverter fault. Why It Matters: This incident is the latest in a series of accidents involving Tesla vehicles. In March, a Cybertruck crashed into the entrance of The Beverly Hills Hotel, with CEO Elon Musk attributing the accident to the vehicle’s sports car-like agility. In July, a severely damaged Cybertruck was put up for auction after a high-velocity collision. Additionally, another fatal crash in France involved a Tesla vehicle that caught fire, resulting in four deaths. The National Highway Traffic Safety Administration (NHTSA) has opened an investigation into nearly 2.4 million Tesla vehicles following reports of crashes involving the full self-driving system. Price Action: Tesla stock closed at $332.89 on Wednesday, down 1.6% for the day. In after-hours trading, the stock increased slightly by 0.5%. Year to date, Tesla's stock has gained 34%, according to data from Benzinga Pro. Check out more of Benzinga's Future Of Mobility coverage by following this link. Read Next: