News
New details on fatal Tesla crash in Texas revealed in Fire Marshal report
A report from the Harris County Fire Marshal’s Office has provided several new details about the high-profile, fatal Tesla Model S crash that happened earlier this month in Texas. The incident, which triggered a wave of inaccurate reports suggesting that the ill-fated vehicle was “driverless,” has rekindled conversations about Tesla’s response to misinformation and the dangers of irresponsible driving.
Immediately after the crash, Harris County Pct. 4 Constable Mark Herman remarked that reconstructionists who responded to the accident were “100% certain that no one was in the driver seat driving that vehicle at the time of impact.” This triggered reports alleging that Autopilot was somehow involved. Herman also remarked that the blaze that resulted from the crash took about four hours to be extinguished, and that firefighters had to call for Tesla for tips on how to address the ill-fated Model S’ battery fire.
These statements were promptly corrected by CEO Elon Musk, who noted that data logs indicate that Autopilot was not enabled during the incident. Fire Chief of The Woodlands Township Fire Department Palmer Buck also corrected reports about the Model S’ battery fire, noting that the blaze was controlled within two to three minutes. After this, it was no longer an active fire, as the fire department was just focused on keeping the battery as cool as possible. Buck also noted that fire personnel did not call Tesla for help on how to handle the vehicle fire.
According to the recent report from the Harris County Fire Marshal’s Office, the vehicle had sustained a “significant front-end collision” that may have damaged its battery, power distribution system, or battery-temperature control systems. While investigator Chris Johnson noted that he was unable to determine the first heat source of the blaze, he concluded that the fire was caused by the Model S’ collision with the tree. The report also noted that the fire was well underway by the time authorities were on the scene, destroying most parts of the vehicle.
The report provided some details about the ill-fated Model S’ two passengers, both of whom perished in the incident. According to the report, the vehicle’s interior had extensive fire damage when some authorities arrived, and most of the combustible materials in the space had already been destroyed. The crash’s victims, William Varner, 59, and Everette Talbot, 69, were on seats whose frames were already visible due to extensive fire damage.
“Decedent 1 was located in a seated position, a few inches forward of the front right (passenger) seat. Decedent 1’s upper torso was in a forward-leaning position, with both arms forward… Decedent 2 was located in a seated position within the rear left (passenger) seat. Decedent 2’s upper torso was in a rear-leaning position, with both arms rolled back in a pugilistic pose,” the report read.
As noted by Tesla in its Q1 earnings call, the company is currently working directly with local authorities, the NTSB, and the NHTSA, to investigate the incident. Tesla Vice President of Vehicle Engineering Lars Moravy added that so far, an inspection of the ill-fated vehicle revealed that the steering wheel was deformed. This, together with the fact that Autopilot was not activated and that all seatbelts post-crash were unbuckled, hints at the likelihood that someone was in the driver’s seat at the time of the crash.
The report from the Harris County Fire Marshal’s Office could be accessed below.
Tesla TX Crash Fire Marshal Incident Report by Simon Alvarez on Scribd
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Investor's Corner
Tesla stock tumbles after earnings, one of its sharpest single-day declines
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
Elon Musk is not happy about this Tesla Full Self-Driving approval delay
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.
Investor's Corner
Google’s massive stake in SpaceX will shock you
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.