Published: Tue, April 16, 2019
Markets | By Erika Turner

Elon Musk says Tesla's full self-driving tech could arrive by 2020

Elon Musk says Tesla's full self-driving tech could arrive by 2020

A federal judge in NY has ordered Tesla CEO Elon Musk and US securities regulators to meet for at least an hour to try and settle a dispute over Musk's tweets.

The financial markets regulator in February asked a judge to hold Elon Musk in contempt for violating a deal the regulator struck with the Tesla chief executive previous year, which requires him to get the approval of the Tesla board of directors before tweeting anything that could "be material to investors".

Elon Musk, already in hot water over his Twitter use, posted another Tesla Inc. production forecast reminiscent of the one that landed him before a federal judge earlier this month. If they can't, she'll rule whether Musk is in contempt.

The judge began hearing arguments at about 2 p.m.

The SEC states Musk violated the compensation in February when he tweeted without the approval of a lawyer about Tesla's vehicle production.

A previous tweet regarding a strategy to take the company private contributed to the initial round of issues with the SEC.

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"Everybody take a deep breath, put your reasonableness pants on and work out this", Nathan stated.

As of Wednesday's close, Tesla shares were down 12.3% up to now this season.

Musk claims that with all this tech constantly being added to the auto - the plan is that the vehicle is eventually so autonomous that you can have it taxi other people and earn you money - Tesla cars become "appreciating assets". The agency contends that Musk hasn't sought the lawyer's approval for a single tweet.

Elon Musk didn't provide any specifics, but did say that it would be "something like" the $3,000, as suggested by a Twitter follower. Tesla agreed to pay a $20 million fine and Mr Musk stepped down as Tesla Chairman for at least three years.

The legal tussle for Musk, 47, served as a distraction amid a record decline in deliveries for Tesla during the first quarter.

Tesla recently made Autopilot a standard across its vehicles.

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