EU Regulators Challenge Tesla’s FSD Over Speed Limits, ARK Buys 44K Shares
TSLA•Tesla faces an EU regulatory hurdle after Sweden’s transport authority recommended blocking its Full Self-Driving system unless the speed-limit override feature is removed, pushing a region-wide approval vote later this year. ARK Innovation ETF purchased roughly 44,000 Tesla shares valued at $17.6 million, while Elon Musk exercised options on 303.96 million shares and surrendered 17.53 million to cover a $7.09 billion tax bill, keeping a 19.9% voting stake.
1. EU Regulatory Challenge to FSD
Sweden’s transport authority has urged European regulators to reject Tesla’s Full Self-Driving (Supervised) system unless the feature allowing vehicles to exceed posted speed limits is removed. A region-wide approval vote is expected later this year, potentially delaying Tesla’s software expansion across EU markets.
2. ARK Innovation ETF Adds Tesla Shares
On June 18, ARK Innovation ETF acquired approximately 44,000 Tesla shares at a cost of about $17.6 million, shifting away from streaming and media exposure and signaling confidence in Tesla’s growth and software-driven initiatives.
3. Elon Musk Exercises Options
Elon Musk exercised options on 303.96 million Tesla shares at a $23.34 strike price and surrendered 17.53 million of those shares to cover a $7.09 billion tax liability, resulting in a maintained 19.9% voting stake in the company.
