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DOJ prosecutors are examining whether Elon Musk’s Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, sources familiar with the matter said.that U.S. prosecutors are scrutinizing Tesla’s self-driving technology claims to determine if the company misled investors and consumers.
The probe has been in the works for some time, with prosecutors requesting information from Tesla about Autopilot and Full Self-Driving. Although Tesla has provided voluminous documents, no decision on how to proceed has been made, as the Justice Department reportedly continues to sift through the data. The investigation will need to demonstrate that Tesla’s claims crossed a line from legal salesmanship to material and knowingly false statements that unlawfully harmed consumers or investors.
According to the NHTSA, “This mismatch resulted in a critical safety gap between drivers’ expectations of operating capabilities and the system’s true capabilities. This gap led to foreseeable misuse and avoidable crashes.” Tesla has faced criticism for its messaging about the technology, including the brand names Autopilot and Full Self-Driving, which some argue have imbued customers with a false sense of security. In response, Tesla shareholders have sued the company, claiming they were misled about the technology’s capabilities.
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