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Musk under SEC probe connected with Autopilot claims: Bloomberg

1/27/23 4:01 PM ET (MarketWatch)Print

U.S. securities regulators are probing Tesla Inc. Chief Executive Elon Musk's role in the EV maker's self-driving car claims, Bloomberg reported Friday, citing a person familiar with the investigation. The review is part of the ongoing U.S. Securities and Exchange Commission's investigation of Tesla's Autopilot, the EV maker's suite of advanced driver-assistance systems, the report said. According to Bloomberg, the SEC is looking into whether Musk "may have inappropriately made forward-looking statements," according to the unnamed source. Musk has made Autopilot a keystone of Tesla's mission, but the system has been under criticism for overstating its ability and lulling drivers into a false sense of security. It is also the focus of multiple investigations by multiple agencies in recent years into crashes and malfunctions where it may have been involved.

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(END) Dow Jones Newswires