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Tesla has released a new software update for its customers who are having the hardware-3-equipped Tesla models. This update detects signals on cross-roads and automatically stops the car as required. TSLA stock rose 10% on Monday.
Over the last weekend, America’s electric-car-maker Tesla Inc (NASDAQ: TSLA) has been pushing out software updates to several Tesla car owners. Meanwhile, TSLA stock was in the green yesterday. This latest update now facilitates Tesla cars to identify and respond to traffic signals and stop signs. Earlier, the software update is available only to a few Tesla car owners.
The software update 2020.12.6 is now available to almost every Tesla vehicle on road. However, for the Tesla owners to receive this update, their cars must be equipped with the Hardware 3 package. Besides, they should be having the fully-equipped autopilot package which the company calls “full self-driving”.
Tesla has dubbed this new feature as Stop Sign and Traffic Signal control. However, one must be careful as this feature comes with its own limits. Only with the properly equipped Tesla vehicles, this feature will stop the car while using “traffic-aware cruise control” or “Autosteer”.
The software release notes also mention that the vehicle will slow for all detected traffic lights. This includes off lights, green lights, and blinking yellow.
Another smart feature is that as the Tesla car approached a cross-road, a notification will indicate the car smarts to slow down. The Tesla smarts then start to slow down the car and stop at the red line seen on the driving visualization on the center display. In its release notes Tesla wrote:
“As with all Autopilot features, you must continue to pay attention and be ready to take immediate action, including braking because this feature may not stop for all traffic controls. Over time, as we learn from the fleet, the feature will control more naturally”.
Tesla (TSLA) Stock Surges 10% after the News on Software Update
On Monday, April 27, the Tesla (TSLA) stock price jumped 10% closing just below $800. At the day end, the Tesla stock was trading at a price of $798 with a market cap of $147 billion. Today in the pre-market, the stock is slightly down (-0.55%).
Despite volatility, the Tesla stock has been one of the top performers on Wall Street in 2020. Earlier this year by mid-February 2020, the Tesla stock surged 100% and moved above $900 in no time. However, it corrected around $505 from its 2020-high during the global market correction in March last month.
But Tesla has managed to show quick recovery again. From its bottom, the TSLA stock has surged over 60% and is making massive jumps over the last few weeks.
Several analysts are bullish on Tesla long-term prospects and think that Tesla will see a much better recovery than its rivals.