Musk Says Tesla Targets August Date For Updates Foundational To Autonomy

Tesla Inc TSLA continued to trade up Monday on CEO Elon Musk’s professed plan to advance autonomy in August.

"With V9 [Version 9], we will begin to enable full self-driving features," Musk tweeted Sunday.

Why It’s Important

Musk did not elaborate on what such features will look like, but any progress is positive for Tesla.

The firm has lost consumer and investor confidence recently through underwhelming Model 3 quality reviews, delays in deliveries and crashes involving autonomous systems.

Demonstrating clear strides in autonomy with improved Autopilot safety may restore positive sentiment and increase the appeal of owning a Tesla for wavering reservation holders tiring of the wait.

What’s Next

Tesla investors have a number of other catalysts to worry about, including the end-of-month deliveries update signaling Tesla’s Model 3 production pace, as well as a labor-dispute hearing over unionizing rights scheduled for Monday.

Shares were trading up 2.9 percent around $327 on Monday afternoon after making a big move higher last week

Related Links:

Morgan Stanley Isn't Buying Tesla's Claims For Profitability, Positive Cash Flow, China Prospects

Baird Still Buying Tesla After Shareholder Meeting, Calls Energy Opportunity Underappreciated