Toyota Motor is going big in battery electric vehicles—and Tesla may be feeling more heat. Toyota the Japanese car company that pioneered hybrid electric vehicles with its Prius model, said Wednesday that it will invest heavily in battery-electric vehicles, artificial intelligence, and hydrogen-fuel technology. Tesla which made all-electric cars famous, has been going through a rough patch as it faces down Chinese firms such as BYD that offer cheaper all-battery cars.
U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, three people familiar with the matter told Reuters. Tesla’s Autopilot and Full Self-Driving systems assist with steering, braking and lane changes - but are not fully autonomous. While Tesla has warned drivers to stay ready to take over driving, the Justice Department is examining other statements by Tesla and Chief Executive Elon Musk suggesting its cars can drive themselves.
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