SEC investigates Tesla CEO Elon Musk’s role in Autopilot claims

SEC investigates Tesla CEO Elon Musk’s role in Autopilot claims

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The US Securities and Exchange Commission is investigating Tesla Inc TSLA chairman Elon Musk’s Role in shaping Tesla’s self-driving claims.

according to a report According to Bloomberg, the review is part of an ongoing Securities and Exchange Commission investigation into Tesla’s claims about its Autopilot driver assistance system.

SEC officials are investigating whether Musk may have made inappropriate forward-looking statements about the Autopilot system.

An investigation by the agency’s enforcement unit sometimes leads to consequences and can result in lawsuits, fines or other civil penalties for companies and executives, Bloomberg reports.

In October 2016, Musk wrote to Tesla’s Autopilot team to underscore the importance of the demonstration, which he made an announcement about a week later.

Bloomberg reported that Musk dictated the opening lyrics for the 2016 video, advertisement that one of his cars was driving himself.

Musk oversaw the creation of the video and put a lot of effort into creating it. In internal emails, he told Tesla employees: “I will tell the world that the car will be able to do that. But, Musk continued, “not that it could do so upon receipt,” Bloomberg reported.

According to a CNN report, citing witness testimony by a senior Tesla engineerstaged the video Tesla used to promote its self-driving technology.

The testimony of Tesla’s Director of Autopilot Software Ashok Elluswamy pointed out that in 2016 the vehicle was unable to stop at red lights and accelerate off the line on its own.

Also read: For the first time, the driver of a Tesla Model S is charged with involuntary manslaughter in a fatal accident involving Autopilot in 2019

“The intent of the video was not to accurately represent what was available to customers in 2016. It was meant to represent what could be built into the system,” said Elluswamy

Musk has frequently stated that Tesla’s automated driving software is safe, but also safer than a human driver.

Last year, the Justice Department ordered Tesla’s…

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