Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Tesla Seeks Hearing Following Allegations by California Regulators

Published 08/19/2022, 04:02 AM
Updated 08/19/2022, 04:02 AM
© Reuters.

By Michael Elkins

According to a report by Reuters published Thursday, electric vehicle giant, Tesla Inc. (NASDAQ:TSLA) has asked for a hearing to present a defense after it was accused by a California state transportation regulator of falsely advertising its Autopilot and Full Self-Driving features as providing autonomous vehicle control.

The complaints were filed on July 28th with the state Office of Administrative Hearings by the California's Department of Motor Vehicles and claim that Tesla’s advertising misrepresented how well its advanced driver assistance systems worked, misleading prospective customers.

Tesla said in notices filed with the state that were released Thursday that it is seeking a hearing and intends to present a defense.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.