EV giant Tesla Inc TSLA on Friday said that its cars have driven one billion miles with the help of its full self-driving (FSD) software, to much applause from company CEO Elon Musk.
What Happened: Tesla announced the milestone via a post on social media platform X, formerly Twitter. This is a significant jump from the end of 2023 when miles driven with FSD was below 800 miles.
“Congrats Tesla AI team!,” Musk wrote.
“Won't be long before Tesla exceeds 10B miles of FSD,” the CEO said in a separate post.
The announcement comes days after the company started deploying measures to increase the FSD take rate. Over the last weekend, Tesla started rolling out a 30-day free trial of its FSD to all customers in the U.S. who did not purchase it. Musk also reportedly instructed staff to provide new vehicle buyers with a short ride demonstrating the capabilities of Tesla’s driver-assist features in real-time.
Why It Matters: These measures are aimed at increasing takers for the software which the company says will enable fully autonomous driving in due time. Currently, however, it performs as a driver assistance system that requires active driver supervision.
FSD "should be really shining bright" by late April or May, Musk said in March. The software is trained on real-time driving data, making more miles on the road a necessity for the improvement of the software.
In June 2023, the CEO pegged vehicle autonomy as the main driver of the brand’s market value.
“The value of the company is primarily on the basis of autonomy,” Musk then said at the VivaTech conference in Paris. “That’s really, I think, the main driver of our value.”
Check out more of Benzinga's Future Of Mobility coverage by following this link.
Read Next: This Penny Stock EV Leaves Big Boys Tesla, Rivian And Lucid In The Dust With 14% YTD Gain
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.
