Tesla Target of US Fraud Probe Over Autonomous Car Claims – Verge

Tesla is under investigation by the US Department of Justice for alleged securities and wire fraud connected to claims about its self-driving vehicles, The Verge reported.

A wider investigation, which has been going on since at least late 2021, has seen federal prosecutors examining whether Tesla executives misled consumers, investors and regulators by making unsupported claims about their autonomous capabilities, the story went on.

Now, sources claim, investigators are particularly looking at specific charges against the company, namely securities and wire fraud, as the company’s advanced driver-assist features, Autopilot and Full Self-Driving, do not make the vehicles autonomous and require drivers to keep their hands on the steering wheel and eyes on the road.

Read the full story: The Verge

Also on AF:

Musk Offered to Launch Robotaxis in China for FSD Approval

Tesla’s EV Sales in China Down 18% Year-on-Year in April

Tesla Sues Indian Battery Maker For Use of ‘Tesla Power’ Name

China Eyes Smart EV Revolution With Tesla’s ‘Full Self-Driving’

Sean O’Meara

Sean O’Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.