Tesla Inc. TSLA CEO Elon Musk on Saturday hinted at the imminent launch of the company’s Full Self-Driving (FSD) feature in China.
What Happened: A Tesla owner in China expressed his anticipation for the FSD feature to be available in the country. He also inquired about the timeline for the HW3.0 system’s use of 3D modeling images and the release of new reversing assistance for Tesla HW3.0 owners in China.
“It may be possible very soon,” Musk responded on X, formerly known as Twitter.
Why It Matters: This development comes on the heels of Tesla’s decision to slash the price of its FSD package by half, making it more accessible to a wider customer base. Musk had earlier stated that the FSD price would only increase as the system’s features and capabilities expanded, but the recent move contradicts this assertion.
In March, Musk had announced that the FSD software would be “really shining bright” by late April or early May, with the company rolling out three significant improvements every two weeks to rapidly scale its abilities. The FSD software is designed to enable autonomous driving but is still in ‘beta’ and requires active driver supervision, contrary to its name.
Additionally, Tesla recently restarted its offer to allow for transferring its FSD software to new vehicle purchases, after initially allowing it as a “one-time amnesty” in 2023. This move was in response to requests from several Tesla owners who wanted to transfer the FSD software from their old Teslas to their new ones.
Price Action: On Friday, Tesla’s stock closed at $147.05, marking a 1.92% decrease from the previous day’s close, according to data from Benzinga Pro.
This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
