In Tesla Autopilot probe, prosecutors focus on securities, wire fraud
(Reuters) — Federal prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, three people familiar with the matter told Reuters.
Tesla’s Autopilot and Full Self-Driving systems assist with steering, braking and lane changes — but are not fully autonomous. While Tesla has warned drivers to stay ready to take over driving, the Justice Department is examining other statements by Tesla and CEO Elon Musk suggesting its cars can drive themselves.
U.S. regulators have separately investigated hundreds of crashes, including fatal ones, that have occurred in Teslas with Autopilot engaged, resulting in a mass recall by the automaker.
The U.S. Securities and Exchange Commission is also investigating Tesla's representations about driver-assistance systems to investors, one of the sources said. The SEC declined to comment.
Tesla did not respond to a request for comment. Last October, it disclosed in a filing that the Justice Department had asked the company for information about Autopilot and Full Self-Driving.
The Justice Department declined to comment.
The probe, which is not evidence of wrongdoing, could result in criminal charges, civil sanctions, or no action. Prosecutors are far from deciding how to proceed, one of the sources said, in part because they are sifting through voluminous documents Tesla provided in response to subpoenas.
