The National Highway Traffic Safety Administration is reportedly looking into Tesla’s new “Mad Max” driver-assistance mode over concerns that it allows vehicles to operate at higher speeds above posted speed limits, reports Reuters as billionaire Elon Musk’s car company continues to draw scrutiny.

The National Highway Traffic Safety Administration said on Friday it is seeking information from Tesla about a new driver assistance mode dubbed "Mad Max" that operates at higher speeds than other versions.

Tesla chief Elon Musk said in a call with investors on Wednesday that his team is “on the cusp of something really tremendous” with Optimus, the humanoid robot that it’s been working on since 2021.

Tesla stock has dropped more than 30% within a period of under 2 months 8 times across different years, erasing billions in market value in a single correction.

Tesla has seen its profits slide even as it reported record quarterly revenue after US buyers rushed to secure a key tax credit on electric car purchases before it ended last month. The firm said revenue for the three months to the end of September hit a record $28bn (£21bn), up 12% from the same time last year.

Tesla reported record third-quarter revenue that beat Wall Street estimates on Wednesday, driven by the highest quarterly sales of its electric vehicles as U.S. buyers rushed to lock in a key tax credit ahead of its expiry last month.

The once-private network is now almost fully public. Eighteen non-Tesla brands can now charge at Superchargers, with more to follow. Here's how we got here.

Tesla said Wednesday that its profit sank in the third quarter after it cut car prices to lift sales. Profit fell to $1.4 billion from $2.2 billion a year earlier, a drop of 37 percent, the company said. Sales rose to $28.1 billion from $25.2 billion.

We can’t rule out that at some point, he’ll decide to leave the automotive industry to refocus on humanoid robots, SpaceX, or artificial intelligence.”