FT News Briefing Did AutoX risk safety to look good for investors?
Apr 7, 2022
The U.S. has intensified sanctions against Russian banks, sending shockwaves through the global economy. Meanwhile, Brazil's Petrobras faces political turmoil as a new CEO is nominated amidst rising inflation. In a shocking revelation, employees from AutoX allege that the company compromised safety features during test drives to impress investors. This raises serious ethical questions about prioritizing investor appeal over public safety in the autonomous vehicle industry.
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Petrobras and Politics
- Brazilian President Bolsonaro criticizes Petrobras for raising fuel prices amid inflation.
- This adds to the pressure on Petrobras's newly nominated CEO during an election year.
AutoX's Risky Demo
- At CES 2019, AutoX disabled safety features during demo rides with investors and media.
- This risky move aimed to showcase a polished autonomous driving experience, despite potential dangers on busy Las Vegas streets.
Investment Secured
- AutoX secured $100 million in funding after the CES 2019 demonstration.
- The investment, from Alibaba and Dongfeng, suggests their technology impressed investors despite the safety concerns.