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Elon Musk Reportedly Being Investigated by US Regulators Over Tesla Self-Driving Car Claims

© AP Photo / Britta PedersenSpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the Axel Springer media award, in Berlin, Germany, Tuesday, Dec. 1, 2020.
SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the Axel Springer media award, in Berlin, Germany, Tuesday, Dec. 1, 2020. - Sputnik International, 1920, 28.01.2023
WASHINGTON (Sputnik) - US regulators from the Securities and Exchange Commission (SEC) are investigating possibly misleading claims Tesla founder and owner Elon Musk may have made about the company's revolutionary new Autopilot driving system, US media reports said on Friday.
The SEC is conducting a comprehensive probe into the Autopilot system, Bloomberg News reported.
According to the outlet, SEC officials have yet to decide whether they believe Musk made inappropriately optimistic statements about the prospects for developing the Autopilot system that would have boosted the company's stock value.
If the SEC was to conclude Musk made seriously misleading claims with financial consequences, he and/or his company could face potentially significant lawsuits, government fines or other penalties, Bloomberg said.
The probe comes as Tesla is also about to face a jury trial to decide whether it is liable in a case where an Autopilot-directed car caused a fatal accident, killing a human driver.
Additionally, the US National Highway Traffic Safety Administration has launched two probes into whether Autopilot is safe and reliable or has serious flaws.

Musk Meets With Biden Officials Over Inflation Reduction Act

Also Friday, White House Press Secretary Karine Jean-Pierre confirmed that Musk, the world's second-richest man, met with White House Deputy Chief of Staff John Podesta and Infrastructure Coordinator Mitch Landrieu to discuss how the company can work with the Biden administration to advance electric vehicle production and enhance electrification of US vehicles.
Individuals in the United States who own Tesla vehicles became eligible this month for up to $7,500 in tax credits under the Inflation Reduction Act (IRA), which was passed in August 2022.

The IRA commits approximately $370 billion in funding for energy security, including tax credits for electric vehicles manufactured in the United States and subsidies to US consumers and companies making green technology.
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