The Securities and Exchange Commission (SEC) is reportedly investigating Elon Musk over claims he made about the Tesla Full Self-Driving (FSD) program in 2016. The investigation is focusing on whether Musk misled investors by exaggerating the capabilities of the technology at the time.
Recently, Ashok Elluswamy, the director of Autopilot software at Tesla, admitted in a deposition that the 2016 video of a Tesla driving “by itself” was not actually self-driving. The video was reportedly overseen by Musk himself, raising further questions about the accuracy of the claims made by the CEO.
This latest drama surrounding Musk and Tesla is just the latest in a series of self-sabotaging actions by the CEO. Despite this, Tesla recently reported record earnings for the previous year, giving a much-needed boost to the company’s stock.
It remains to be seen how the SEC investigation and the recent revelations about the video will impact Tesla and its stock. Wall Street is likely to be closely monitoring the situation and reacting accordingly.
