Electric Automaker Tesla Remains Committed to Full Self-Driving Software Rollout
Tesla shares saw a 2.5% increase on Thursday as the company reaffirmed its plans to introduce the advanced driver assistance software, Full Self-Driving (FSD), in China and Europe, pending approval from regulators in those regions. This announcement comes ahead of the unveiling of Tesla’s robotaxi product, “Cybercab”, which will leverage the same technology used to aid drivers in accelerating, braking, and steering under human supervision in urban and highway settings.
Elon Musk’s Update on Full Self-Driving Software Launch
In July, CEO Elon Musk had mentioned that Tesla was likely to receive regulatory approval for the FSD software in China and Europe by the end of this year. Musk further stated that the FSD launch could extend to right-hand drive markets by either late Q1 or early Q2 of next year. However, Musk’s tendency to set overly ambitious deadlines has raised concerns among investors and analysts, particularly after missing previous optimistic targets related to FSD, the Semi truck, and the Cybertruck.
Recent Developments and Future Rollouts
- Tesla introduced features like Actually Smart Summon and announced the availability of FSD for their Cybertruck electric pickup truck earlier this month.
- The upcoming version 13 of the software is anticipated to require fewer interventions from drivers, enhancing the autonomy of Tesla vehicles.
- Shanghai, where one of Tesla’s gigafactories is located, allowed 10 vehicles to conduct FSD tests in June, setting the stage for a potential rollout in China.
Investor Outlook and Market Sentiment
Brokerage firm Piper Sandler noted that while recent data on the performance of Tesla’s HW3 FSD hardware from a community tracker could raise concerns among some car owners, it is not a significant worry for Tesla investors. Despite challenges in the electric vehicle (EV) market, such as rising borrowing costs and consumer apprehensions about charging infrastructure and driving range, Tesla’s emphasis on innovative products like humanoid robots, robotaxis, and FSD remains strong.
Regulatory Landscape and Industry Prospects
Concerns linger on Wall Street regarding companies involved in self-driving technologies due to stringent regulatory scrutiny. Nevertheless, investors are hopeful that a potential shift in the regulatory environment under a new administration could expedite approvals for autonomous driving technologies.
Hot Take: Stay Informed and Engaged in the Evolving Cryptocurrency Landscape
As a savvy follower of cryptocurrency news and technological advancements, keeping abreast of developments in the electric vehicle sector, particularly concerning innovations like Full Self-Driving software by industry leaders like Tesla, can provide valuable insights into the future of transportation and autonomous technologies.
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