Axios

Tesla plans to introduce self-driving taxis in some U.S. cities next year, CEO Elon Musk announced on Monday at a company event for investors, during which it also unveiled a new chip to power its autonomous driving system.

The big picture: Tesla has long proclaimed its ambition to operate fleets of self-driving taxis. But limitations of the company's currently available autonomous driving tech — along with well-publicized accidents involving the limited self-driving technology its cars currently offer — raise questions about Tesla's aggressive timeline.

President Trump and the Trump Organization filed suit against House Oversight Committee chairman Elijah Cummings in federal court on Monday in an attempt to block Cummings' subpoena of Trump's longtime accountant, Mazars USA LLP.

The big picture: Cummings wrote last week that the subpoena — for all of Trump's financial records — is a result of testimony from Trump's former lawyer Michael Cohen, who claimed that the president "altered the estimated value of his assets and liabilities on financial statements."

An increasing risk of flooding across the U.S. from climate change has caused lawmakers — from Hawaii to the East Coast — to consider new measures to protect at-risk areas.

The big picture: The risks span from the nation's natural jewels to some of its most important infrastructure. Rising sea levels mean that Hawaii's Waikiki Beach could be underwater within the next 15 to 20 years — and an increasing number of U.S. nuclear plants were never designed to handle the flood risk from climate change.

Amid skepticism, Tesla CEO Elon Musk today will unveil a plan to bring full autonomy to his electric cars, making them truly driverless vehicles, AP reports.

Be smart: Musk's description of Tesla's controls as "Full Self-Driving" has alarmed some observers who think it will give owners a false sense of security and create potentially lethal situations in conditions that the autonomous cars can't handle.

One of the most popular climate-change policies in America — renewable energy mandates — is also expensive, a new study says.

Driving the news: Standards in roughly 30 states that require a portion of electricity to come from renewable sources, mostly wind and solar, are driving up power prices and imposing a high cost to reduce carbon dioxide emissions, according to a new report out today by the University of Chicago.

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