Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tesla, Inc.    TSLA

TESLA, INC.

(TSLA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Tesla's release of new 'self-driving' software closely watched by U.S. regulator

10/22/2020 | 10:06pm EST
FILE PHOTO: Tesla Inc CEO Elon Musk walks next to a screen showing an image of Tesla Model 3 car during an opening ceremony for Tesla China-made Model Y program in Shanghai

(Reuters) - The U.S. auto safety regulator said on Thursday it was closely watching Tesla Inc's release of a software version intended to allow its cars to drive themselves, saying it stood ready to protect the public against safety risks.

Tesla on Tuesday night released a beta, or test version, of what it calls a "Full Self Driving" software upgrade to an undisclosed number of "expert, careful" drivers. The release prompted online posts by excited recipients who shared video snippets of their car driving apparently autonomously on city streets at night.

During a Tesla earnings call on Wednesday, Chief Executive Elon Musk said the latest upgrade was planned to be widely released by the end of this year, with the system becoming more robust as it collected more data.

"NHTSA has been briefed on Tesla's new feature, which represents an expansion of its existing driver assistance system. The agency will monitor the new technology closely and will not hesitate to take action to protect (the) public against unreasonable risks to safety," the National Highway Traffic Safety Administration said in a statement.

NHTSA in July said its special crash investigation team had "looked into 19 crashes involving Tesla vehicles where it was believed some form of advanced driver assistance system was engaged at the time of the incident."

Musk for years has promised self-driving for the company's vehicles but missed several self-imposed deadlines.

Researchers, regulators and insurance groups say true self-driving is still years away and more complex than companies anticipated several years ago. They have criticized Tesla's promotion of its existing semi-automated Autopilot system as dangerously misleading.

A consortium of self-driving technology companies, Partners for Automated Vehicle Education (PAVE), which includes Ford Motor Co, General Motors Co and Google's self-driving unit Waymo, criticized Tesla's approach.

"Public road testing is a serious responsibility and using untrained consumers to validate beta-level software on public roads is dangerous and inconsistent with existing guidance and industry norms," PAVE said in a Thursday statement.

Autopilot and similar advanced driver assistance systems can provide steering, braking and acceleration support under limited circumstances, generally on highways.

Tesla's website describes the new software release as "Autosteer on City Streets," saying the system requires active driver supervision and does not make the car autonomous. https://www.tesla.com/support/autopilot

Tesla owners can purchase "Full Self Driving" for $8,000 in hopes of eventually receiving the upgrade. Musk said early Thursday the price would rise by $2,000 on Monday, but later in the day tweeted U.S. price hikes would be pushed to Thursday next week. Similar price increases will apply in other countries as the test version was released there, he added.

On Twitter, Tesla owners receiving the test version posted videos of their experience, claiming the car "literally sees everything," setting indicators on its own and navigating turns even without clear lane markings. https://bit.ly/3kpgvUu

They also posted a picture of the software update release notes, which said the system "may do the wrong thing at the worst time," urging drivers to keep their hands on the wheel and pay extra attention.

Reuters could not reach Tesla for comment on NHTSA's statement and to confirm the authenticity of the release note.

(Reporting by Tina Bellon in New York and David Shepardson in Washington; Editing by Jonathan Oatis, Steve Orlofsky and Richard Chang)

By Tina Bellon and David Shepardson


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY -3.92% 9.08 Delayed Quote.-2.37%
GENERAL MOTORS COMPANY -2.15% 45.46 Delayed Quote.24.21%
TESLA, INC. 3.35% 574 Delayed Quote.586.06%
All news about TESLA, INC.
07:28aTESLA : U.S. agency opens probe into 115,000 Tesla vehicles over suspension issu..
RE
06:41aTESLA : US agency investigating Tesla front suspension failures
AQ
06:40aTESLA : US agency investigating Tesla front suspension failures
AQ
06:01aU.s. auto safety agency opens probe into 114,761 tesla vehicles over front su..
RE
05:45aRenewable Energy Industry Readies Wish Lists for Joe Biden
DJ
11/26TESLA : plans to produce electric car chargers in China
RE
11/26LG to spin off affiliates as break-up looms at South Korean conglomerate
RE
11/26TESLA : plans to produce electric car chargers in China
RE
11/26LG to spin off affiliates as break-up looms at S.Korean conglomerate
RE
11/25TESLA : raises prices for Model S across Europe
RE
More news
Financials (USD)
Sales 2020 30 702 M - -
Net income 2020 1 254 M - -
Net cash 2020 1 817 M - -
P/E ratio 2020 459x
Yield 2020 -
Capitalization 544 B 544 B -
EV / Sales 2020 17,7x
EV / Sales 2021 12,2x
Nbr of Employees 48 016
Free-Float 80,0%
Chart TESLA, INC.
Duration : Period :
Tesla, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 37
Average target price 385,13 $
Last Close Price 574,00 $
Spread / Highest target 0,70%
Spread / Average Target -32,9%
Spread / Lowest Target -86,1%
EPS Revisions
Managers
NameTitle
Elon Reeve Musk Chief Executive Officer & Director
Robyn M. Denholm Chairman
Zachary Kirkhorn Chief Financial Officer
Kimbal Musk Director
Ira M. Ehrenpreis Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TESLA, INC.586.06%544 095
TOYOTA MOTOR CORPORATION-5.35%195 776
VOLKSWAGEN AG-15.68%93 505
NIO LIMITED1,235.57%72 989
DAIMLER AG13.61%71 446
BYD COMPANY LIMITED388.80%70 900