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SEC, DOJ Probe Tesla Over Statements About Autopilot Functionality

The technology helps drivers with steering and maintaining a safe distance from other vehicles, but doesn’t make cars autonomous

Source: The Wall Street Journal
By Dave Michaels and Rebecca Elliott
Oct. 27, 2022 3:23 pm ET

WASHINGTON—Federal prosecutors and securities regulators are investigating whether Tesla Inc. TSLA 1.52%increase; green up pointing triangle misled consumers and investors about how its advanced driver-assistance system performed, according to a person familiar with the matter.

The Justice Department is looking at statements that Tesla and its executives made about the safety and functionality of the system known as Autopilot, the person said. The Securities and Exchange Commission is conducting a similar civil investigation, people familiar with the matter said.

Tesla didn’t respond to requests for comment.

The company’s Autopilot system is among the most well-known advanced driver-assistance systems and comes standard on new Teslas. The technology helps drivers with tasks such as steering and maintaining a safe distance from other vehicles on the highway, but does not make cars autonomous.

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