TSLA Stock at $775 as Tesla Rolls Out Full Self-Driving Beta to Car Owners

UTC by Bhushan Akolkar · 3 min read
TSLA Stock at $775 as Tesla Rolls Out Full Self-Driving Beta to Car Owners
Photo: Unsplash

Tesla sparks excitement with the release of its FSD Beta software but only for drivers with good “safety score”. However, regulators aren’t quite satisfied with Tesla’s approach.

Last Friday, September 24, automobile giant Tesla Inc (NASDAQ: TSLA) rolled out its much-awaited tech update to its platform. The electric carmaker now allows Tesla car owners to request access to its controversial Full Self-Driving Beta (FSD Beta) software.

This might sound delightful for all Tesla owners, we have yet to see the comments from federal vehicle safety authorities. The regulators have already shared their concerns and the risks associated here. They are also investigating the author for any possible safety defects in the driver assistance systems.

The Full-Self Driving (FSD) is currently in the beta stage and is Tesla’s premium driver assistance software. Tesla plans to sell it at $10,000 upfront or on subscription at $199 per month.

Tesla unveiled this FSD Beta version late last Friday, September 24. The automobile giant said that drivers with only high safety scores will get access to it. The Tesla stock ended with a 2.75% in green during last Friday’s trading session. As of Friday’s trading, TSLA was trading at $775. 

Tesla is marketing FSD with a ton of interesting features. It allows users to automatically change lanes, navigate on the highway, drive a small distance without anyone behind the wheel, move into and out of the parking spot automatically, etc.

FSD Beta brings an interesting feature dubbed “autosteer on city streets”. This feature allows drivers to automatically navigate around urban environments along with other vehicles, cyclists, pedestrians, and pets, without taking charge of the steering wheel manually.

However, drivers are requested to stay attentive as the feature hasn’t been perfected. Previously, rolled out the FSD Beta to 2000 people.

Tesla FSD Beta: Lawmakers Have Strong Concerns

With Tesla CEO Elon Musk announcing details of this FSD Beta button recently, lawmakers have voiced concerns. Jennifer Homendy, the head of the National Transporation Safety Board called the move premature, during her recent interview with WSJ.

Homendy said that the electric carmaker has to address basic safety issues. Besides, she also blamed Tesla for conducting tests of this unfinished product with untrained drivers on public roads.

Elon Musk has been promising download of the FSD beta for months. However, with months of moving back and forth, Tesla has now introduced a calculator. This assigns drivers a “safety score”. As a result, Tesla can determine whom they can allow access to FSD Beta.

As per CNBC, Tesla’s systems tabulate a drivers’: “Predicted Collision Frequency, Forward Collision Warning per 1,000 Miles, Hard Braking, Aggressive Turning, Unsafe Following Time, and Forced Autopilot Disengagements”.

It will be interesting to see how the regulators of other states respond in this regard.

Business News, Editor's Choice, Market News, News, Stocks
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Related Articles