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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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Manufacturing & engineering

Tesla scrutiny mounting in US as vehicle ranges in question

Tesla Inc (NASDAQ:TSLA) is facing questions from the US Department of Justice (DOJ) over its autopilot systems, vehicle ranges and even “personal benefits [and] related parties”.

This follows Reuters reports from July and last year respectively that Tesla’s vehicles have often failed to meet advertised ranges and were being investigated over claims that they were self-driving.

Specifics on which parties inside the company were being investigated were not laid out, meanwhile.

According to a Securities and Exchange Commission (SEC) filing made by Elon Musk’s firm on Monday, the department has issued subpoenas requesting information on the issues.

“To our knowledge, no government agency in any ongoing investigation has concluded that any wrongdoing occurred,” Tesla’s filing said.

“Should the government decide to pursue an enforcement action, there exists the possibility of a material adverse impact on our business.”

Tesla is also facing a range of individual and class-action lawsuits following a data breach in the second quarter of this year, the filing said.

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