🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

The SEC and DOJ Look into Tesla Self-Driving Claims - WSJ

Published 27/10/2022, 21:06
© Reuters.
TSLA
-

By Sam Boughedda

The SEC and DOJ are both probing Tesla (NASDAQ:TSLA) regarding statements about autopilot functionality, according to a report by The Wall Street Journal.

It was first reported Wednesday by Reuters that the U.S. Department of Justice (DoJ) had launched a probe into the electric vehicle firm's self-driving claims.

Now the WSJ states sources have told them that the SEC is also looking into whether Tesla misled consumers and investors regarding how its advanced driver-assistance system performed, with the DOJ reportedly looking at statements Tesla and its executives have made about the safety and functionality of the system.

Tesla's self-drive system, named Autopilot, comes standard on new Tesla vehicles and assists drivers with aspects such as steering and maintaining a safe distance from other vehicles. However, it does not make the cars autonomous.

The WSJ added that the U.S. auto-safety regulator and the California Department of Motor Vehicles have also increased scrutiny of Autopilot.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.