San Francisco (CNN Business)Tesla is under regulatory investigation after a whistleblower alleged the company failed to properly disclose fire risks associated with solar panel defects.
The investigation raises regulatory pressure on the world's most valuable automaker, which already faces a federal safety probe into accidents involving its driver assistant systems. Concerns about fires from Tesla solar systems have been published previously, but this is the first report of investigation by the securities regulator.
The solar panel probe was revealed in a letter from the US Securities and Exchange Commission, which was made public in response to a Freedom of Information Act request by Steven Henkes, a former Tesla field quality manager. Henkes filed a whistleblower complaint about the solar systems in 2019 and asked the SEC for information about the report.
"We have confirmed with Division of Enforcement staff that the investigation from which you seek records is still active and ongoing," the SEC said in a September 24 response to Henkes, declining his request to provide its records.
The SEC official said the letter should not be taken as an indication by the agency that violations of law had occurred. Reuters was able to confirm the response.
Henkes, a former Toyota Motor quality division manager, was fired from Tesla in August 2020 and he sued Tesla claiming the dismissal was in retaliation for raising safety concerns. Tesla did not respond to Reuters' emailed...
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