U.S. SEC probes Elon Musk's role in Tesla self-driving claims - Bloomberg News


Tesla CEO Elon Musk and his security detail depart the company’s local office in Washington, U.S. January 27, 2023. REUTERS/Jonathan Ernst

(Reuters) -The U.S. securities regulator is investigating Elon Musk's role in shaping EV maker Tesla's self-driving claims, Bloomberg News reported on Friday, citing a person with knowledge of the matter.

The review is part of an ongoing Securities and Exchange Commission (SEC) probe of the company's statements about its Autopilot driver-assistance system, the report added.

SEC officials are considering whether Musk may have inappropriately made forward-looking statements, the report said, without specifying which specific statements or activities by Musk attracted the regulator's attention.

Tesla Chief Executive Musk did not immediately respond to a Reuters request for comment, while the SEC declined to comment.

Separately, the acting head of the National Highway Traffic Safety Administration (NHTSA) on Jan. 9 said the regulatory agency is "working really fast" on the Tesla Autopilot investigation it opened in August 2021.

Musk is also under trial for allegedly misleading investors with his 2018 tweet saying "funding secured" for taking Tesla private.

(Reporting by Chavi Mehta in Bengaluru; Editing by Devika Syamnath)

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Tech News

Apple wins appeal against UK's decision to investigate its mobile browser
GM plans to phase out Apple CarPlay in EVs, with Google's help
Hindenburg says Block response confirms it inflated Cash App user counts
AI experts disown Musk-backed campaign citing their research
Britain's digital banks need support amid banking turmoil - trade body
Italy data protection agency opens ChatGPT probe on privacy concerns
TikTok propaganda labels fall flat in ‘huge win’ for Russia
Owner of stolen truck tracks it with AirTag and kills man inside, US police say
Brazil meal payments overhaul delayed by central bank standoff
Siemens investigating report employee worked for Russian hacking firm

Others Also Read