U.S. auto safety investigators said Monday that they would launch a probe into the April crash involving a VinFast (NASDAQ:VFS) VF 8 in Pleasanton, California, which resulted in the deaths of a family of four.
The National Highway Traffic Safety Administration (NHTSA) will investigate the circumstances of the April 24 incident and the subsequent fire that claimed the lives of a couple and their children, aged 13 and 9.
A complaint submitted to the agency on April 29 suggested that steering problems may have contributed to the crash.
Shares of VinFast tumbled more than 7% in premarket trading.
According to Pleasanton Police, the driver in the single-vehicle accident appeared to lose control and collided with a large oak tree, with speed potentially being a factor.
A spokesperson for VinFast, quoted earlier this month in the Pleasanton Weekly, acknowledged the accident and stated that authorities are investigating the cause, with findings to be shared upon completion.
The complaint to NHTSA by a coworker of the driver mentioned a separate incident where the steering wheel automatically maneuvered to the right, though the coworker managed to regain control.
The coworker voiced concerns that a similar steering issue might have occurred during the fatal crash.
The investigation was first reported by TechCrunch.