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

SEC attorney Cheryl Crumpton recommended fines for Musk if Nathan finds him in contempt of the October settlement. In a recent interview with MIT, Tesla CEO Elon Musk said that drivers could begin removing their hands from the wheel as soon as six months from now, but "next year" at the latest.

A federal judge in NY has given Musk and the U.S. Securities and Exchange Commission until April 18 to rework an agreement governing how the CEO posts information about Tesla on social media. If they can't, she'll rule whether Musk is in contempt.

Tesla also said 63,000 vehicles were delivered by it in the quarter, down 31% from the fourth quarter of 2018.

Bloomberg reports that the tweet comes amid concern about the future performance of the company after reports that Tesla and Panasonic were shelving their plans to expand the production capacity of the Nevada gigafactory.

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

The problem over Musk's tweets goes back to a settlement reached following Musk tweeted that he had secured the funds to take Tesla personal at $420 an share - a significant premium over the price at the period - when he did not.

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Last September, the SEC sued Musk for a separate tweet on August 7 in which he said Tesla had. He agreed to pay $20 million, step down as chairman and seek pre-approval from an in-house securities lawyer before tweeting information material to the electric-car maker.

Tesla recently made Autopilot a standard across its vehicles.

The SEC states Musk violated a settlement when he tweeted without a lawyer's approval.

The judge was not impressed, however, and told both sides to "Take a deep breath, put your reasonableness trousers on, and work this out", giving them until this Thursday to settle their differences out of court. She wrote in an order the next day that if Musk is held in contempt, the court will allow further briefings on sanctions.

The federal judge Alison Nathan told Mr Musk: "Take a breath".

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