Tesla performed its in-house crash testing of the Cybertruck, and because it was in compliance with Federal Motor Vehicle Safety Standards, the car can be delivered to customers. However, it does not have official safety ratings from the National Highway Transportation Safety Administration (NHTSA), and the Insurance Institute of Highway Safety (IIHS) has no plans to test the vehicle.
There’s an explanation for all of it, however.
The Cybertruck’s Situation with the NHTSA
The NHTSA does not “approve” new vehicles, but it establishes performance requirements that comply with FMVSS. Manufacturers certify compliance with these standards when they crash test internally. Some vehicles are crash-tested directly by the NHTSA, but the Cybertruck is not one of these vehicles. At least not yet.
According to a 2020 report from Consumer Reports, “97 percent of all new vehicles sold are crash-test rated by one or both of the independent organizations.”
However, as the Cybertruck’s preliminary safety ratings have been added to the NHTSA database, they do not include any specific ratings in terms of crash ratings. The only ratings are safety features, such as Front Collision Warning, Lane Departure Warning, Crash Imminent Braking, and Dynamic Brake Support, which all meet performance criteria.
The Cybertruck is not mentioned on the 2024 list of vehicles to be included in the agency’s five-star safety ratings tests.
This means the Cybertruck will not have official ratings from the NHTSA until the truck is tested by them directly, per the agency, which clarified its plans to Teslarati on Monday.
The Cybertruck’s Situation with the IIHS
The IIHS also has no plans to test the Cybertruck, the organization told us.
“Automakers do perform their own crash tests to ensure compliance with federal regulations and for internal purposes,” Joe Young of the IIHS said. “Regardless of whether the [Cybertruck] is ever tested by IIHS or for NHTSA’s NCAP program, it will still need to meet federal motor vehicle safety standards, which require certain crash test standards.”
The Cybertruck has done this, and the recommendation from the NHTSA and IIHS is more or less another nod of confidence for any vehicle that is tested. Tesla has received five-star ratings for its vehicles from the NHTSA in the past.
Young also said the Cybertruck could be tested by the IIHS in the future. However, that decision will be made after it can assess “the level of general consumer interest in the vehicle.” If it is popular enough, the IIHS may test it.
Tesla ‘highly confident’ Cybertruck is safer than other trucks: Elon Musk
Additionally, Tesla could reach out to the IIHS and nominate the Cybertruck for testing:
“The testing nomination process allows automakers to essentially reimburse us for the cost of the vehicle(s) to get it tested more quickly than we might otherwise do so. Either scenario would require vehicle availability, however,” Young said.
The IIHS also has a verification test program, which allows automakers to submit in-house data and results of crash testing. Due to limited funding and time, the IIHS cannot independently test every consumer vehicle on the market, so it can use OEM data to do so. The program is regularly audited to ensure accuracy.
However, the Cybertruck is not currently able to be a part of the verification test program. Young explained, “As a new model, the Cybertruck wouldn’t be eligible for this program in our driver-side small overlap test, and we don’t accept verification data for our updated moderate overlap frontal crash test program. It’s possible it could be eligible for a verification rating in one or more of our other tests, but that would be at the discretion of our crashworthiness team.”
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Tesla stock (NASDAQ: TSLA) endured one of its sharpest single-day declines in years on July 23, tumbling approximately 14.5 percent and closing near $320 after opening the session around $374. The drop erased more than $140 billion in market value amid heavy trading volume and left the shares at multi-week lows.
The sell-off followed the company’s second-quarter 2026 results, released the previous evening. Tesla reported record revenue of $28.2 billion, up 26 percent year over year, driven by a Q2-record 480,126 vehicle deliveries. Energy storage deployments also rose strongly.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Yet profitability disappointed sharply. Operating income fell 57 percent to $398 million, compressing the operating margin to just 1.4 percent. Non-GAAP earnings per share came in at $0.33, well below the roughly $0.53 analysts had expected. Free cash flow turned negative by $1.1 billion as capital expenditures surged 142 percent to $5.8 billion, largely tied to accelerated spending on artificial intelligence, robotics, and autonomous systems.
The losses on capex were expected, as Tesla said it would be spending heavily in 2026.
Investors also reacted to lingering uncertainty surrounding key product timelines. During the Earnings Call, management reiterated ambitions for Robotaxi deployment and the Optimus humanoid robot, but offered limited new concrete milestones, renewing questions about execution pace that have long accompanied Tesla’s ambitious roadmap.
The magnitude of the decline places it among Tesla’s more severe one-day percentage losses since its 2010 initial public offering. Historically, the two largest single-day drops (split-adjusted) remain September 8, 2020, when shares fell 21.1 percent amid broader market volatility and valuation concerns, and January 13, 2012, with a 19.3 percent plunge during the company’s early growth struggles.
Other notable declines include an 18.6 percent drop on March 16, 2020, at the onset of pandemic-related market turmoil. Thursday’s move ranks roughly ninth on the all-time list but stands out as the steepest in more than a year.
Despite the short-term pain, Tesla’s long-term trajectory has repeatedly recovered from such volatility. The latest results underscore both the strength of its core automotive and energy businesses and the near-term costs of heavy investment in next-generation technologies.
Elon Musk clapped back at France’s decision to withhold the approval for Tesla’s Full Self-Driving (FSD) Supervised system, projecting a clear and blunt message to French Transport Minister Phillippe Tabarot, after he publicly rejected the technology in its current form.
Tabarot outlines several concerns with Tesla Full Self-Driving in a detailed video statement, where he said, “The safety trade-offs are not yet sufficient to authorize it as it currently stands,” he said. He emphasized that FSD is not a true self-driving system and that the driver remains fully responsible.
Key issues Tabarot also brought up included allowing speeding when surrounding traffic exceeds limits and what he believes are insufficient guarantees of driver attention during complex urban maneuvers such as lane changes, intersections, and roundabouts.
Delaying the approval of FSD in France will cost lives
— Elon Musk (@elonmusk) July 22, 2026
While acknowledging technological progress and France’s support for autonomous innovation, Tabarot stressed that deployment must prioritize road safety. He noted ongoing technical discussions with Tesla, the Netherlands, and other European partners, with further ecosystem meetings planned for the fall.
Musk’s rebuke highlights the human cost of regulatory caution. Tesla’s latest safety reports provide compelling data supporting accelerated adoption. In the most recent 12-month period, vehicles using FSD (Supervised) recorded one major collision per approximately 5.1 million miles driven, dramatically better than the U.S. national average of one crash per 698,000 miles.
Even Tesla vehicles driven manually with active safety features outperform the average by a wide margin. These figures come from billions of real-world miles of telemetry, showing FSD vehicles involved in far fewer incidents than both manual Teslas and the broader U.S. fleet.
Critics argue Tesla’s comparisons require careful scrutiny regarding reporting thresholds and fleet demographics, yet the data consistently positions FSD as a potential lifesaver. With road fatalities remaining a leading cause of death worldwide, Musk contends that proven safer technology should not face prolonged bureaucratic hurdles.
France’s measured approach reflects the broader European regulatory caution, which many, especially Musk, have been critical of in the past. However, as autonomous systems from Tesla and competitors like Waymo demonstrate superior safety in independent studies, pressure is mounting for harmonized approvals.
Musk’s warning carries the belief that every month of delay may equate to avoidable tragedies on European roads.
In a striking revelation that underscores the lucrative crossover between Big Tech and space exploration, Alphabet Inc., Google’s parent company, disclosed a massive $94.1 billion equity stake in SpaceX following the rocket company’s blockbuster initial public offering earlier this year.
The disclosure came in Alphabet’s quarterly filing, marking the first time the long-held private investment has been publicly valued at market prices. Google was an early backer, investing alongside Fidelity in 2015 with roughly $500-900 million at a time when SpaceX was valued around $12 billion.
That bet has delivered extraordinary returns, roughly a hundredfold, transforming a strategic play on satellite internet and launch capabilities into one of Alphabet’s largest assets.
Google, $GOOGL, has said they hold $94 billion in SpaceX, $SPCX, shares after IPO.
— unusual_whales (@unusual_whales) July 23, 2026
Of the total holding, approximately $80 billion remains subject to short-term post-IPO lockup restrictions, preventing near-term sales. An additional $14.1 billion faces longer-term restrictions, extending into the third quarter of 2027. This structure limits immediate liquidity but protects against market volatility as SpaceX transitions into public trading.
The SpaceX position contributed significantly to gains in Alphabet’s broader investment portfolio, which also includes a major stake in AI leader Anthropic. Combined, these holdings helped drive nearly $100 billion in investment gains during the second quarter, providing a substantial boost to net income amid ongoing AI spending pressures.
Analysts view the disclosure as validation of Alphabet’s venture strategy beyond its core search and cloud businesses. The investment aligns with deeper ties, including reported multi-billion-dollar deals for AI computing capacity on SpaceX infrastructure. As SpaceX advances Starship flights, Starlink expansion, and ambitious Mars goals under Elon Musk, Google’s stake positions it to benefit from the commercialization of space.
For Alphabet, the windfall highlights how patient, forward-looking bets in transformative sectors can yield outsized rewards. While lockups temper short-term impact, the holding cements SpaceX as a cornerstone of Alphabet’s diversified portfolio in an era where aerospace, AI, and connectivity increasingly intersect. Investors will watch closely as restrictions lift and SpaceX’s public performance unfolds.
Tesla stock tumbles after earnings, one of its sharpest single-day declines
Elon Musk is not happy about this Tesla Full Self-Driving approval delay
