NEW YORK (TheStreet) -- The National Highway Traffic Safety Administration (NHTSA) is weighing in on autonomous vehicles and working on finalizing national guidelines for them, CNBC's Phil Lebeau reported on "Power Lunch" Wednesday.
Many people are questioning if the technology of autonomous driving is coming along too quickly, after a driver was killed in an accident involved with a Tesla (TSLA) - Get Report vehicle operating on autopilot, Lebeau said.
The critics may be jumping the gun a little quickly in terms of criticism on the rules, Lebeau said citing comments from NHTSA administrator Dr. Rosekind.
"They are shocked, shocked to discover there's vehicle automation that is already here. And for some of those same critics who mere weeks ago were saying nhtsa was moving too fast, they're now sending out press releases demanding to know where is the government to stop this," Rosekind said.
Rosekind refused to comment on the ongoing investigation of Tesla.
Regulators are hoping to educate people on the proper use of the technology, Lebeau said.
Elon Musk, CEO of Tesla, is promising to deliver a plan rationalizing Tesla's bid on SolarCity, he added.
Shares of Tesla are moving higher by 1.56% to $228.76 this afternoon.
Separately, TheStreet Ratings team set this stock as a "sell" with a ratings score of D+. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TSLA