What's Going On With Tesla Stock Monday?

Tesla Inc TSLA shares are volatile Monday after the company announced it will deploy full self-driving features in China.

What To Know: According to a Bloomberg report, Tesla is preparing a software update for Tesla owners in China that will allow vehicles to offer driver-assistance capabilities similar to what’s being marketed as full self-driving in the United States.

The report indicates that the planned update is expected to be rolled out in the coming days. According to a person familiar with the matter, the new features will allow Tesla owners to use the assisted driving features on city streets.

Some of the capabilities reportedly include guiding vehicles through intersections, recognizing traffic signals, making turns, changing lanes and adjusting speeds. Although the capabilities are marketed as full self-driving (FSD), the report indicates that the system still requires constant human supervision.

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Tesla has reportedly drafted the language for the software update, which includes cautions related to the timing and effectiveness of some features. A person familiar with the matter said city street driving features will initially be available on certain models as the company works to expand the offering gradually.

Tesla owners in China will be able to access the full self-driving features for 64,000 yuan ($8,800).

TSLA Price Action: Tesla shares initially traded up to around $346 in early trading Monday, before pulling back with the broader market. The stock was down 0.93% at $334.68 at the time of publication Monday, according to Benzinga Pro.

Photo: courtesy of Tesla.