Tesla CEO Elon Musk Drops Another Surprise About FSD

 Tesla CEO Elon Musk Drops Another Surprise About FSD

Tesla (TSLA) CEO Elon Musk now says the EV maker’s Full Self Driving beta will be available to the wider U.S. public in about four weeks. Tesla stock rose.




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FSD actually refers to Tesla’s level 2 driver assistance software, which requires driver supervision at all times. Level 4 and 5 are considered high automation in which the driver is no longer a necessity, according to the National Highway Traffic Safety Administration, citing the Society of Automotive Engineers.

In a tweet on Wednesday afternoon, Musk said: “We should be there with Beta 10, which goes out a week from Friday (no point release this week). It will have a completely retrained NN, so will need another few weeks after that for tuning & bug fixes. Best guess is public beta button in ~4 weeks.”

It appears the release will come in the form of a button, so that folks who bought the FSD package can download the software if they want it. Tesla has also been offering a $199-a-month subscription.

But Musk has been promising a wider release for FSD for several months. The latest timeline comes after Musk criticized v.9.2 as “not great” in an earnings call a few weeks ago, but claimed just a couple of days ago v.9.3 as “much improved.” Now it looks like v.9.3 will become the early release v.10, which Musk says will be available in a couple of weeks.

Meanwhile, Tesla’s Autopilot and self-driving capabilities have been under regulatory scrutiny. The NHTSA launched a formal investigation on Aug. 16 into 11 crashes that injured 17 people and killed one. Then on Aug. 18, lawmakers asked the Federal Trade Commission to probe what they consider Musk’s persistent misrepresentations, which they say endanger Tesla drivers and the driving public at large.

Tesla Stock

Shares rose 0.2% to 712.51 on the stock market today. Tesla stock is offering up a new aggressive buy point of 730. A deep, large base also continues to form. Shares have found support at their converged 50-day and 200-day lines, according to MarketSmith chart analysis.

Tesla’s relative strength line is going sideways. Its RS Rating is 80 out of 99, while its EPS Rating is 72. Tesla is a Leaderboard stock.

Among other U.S. automakers with a growing EV slate, General Motors (GM) fell 1.6% and Ford (F) slipped 0.8%. Luxury EV maker Lucid Motors (LCID) was up 0.5%.

Tesla’s China-based rivals Nio (NIO) rose 0.8%, Li Auto (LI) was down 0.3% and Xpeng (XPEV) rose 1.2%. Xpeng reported wider-than-expected Q2 losses Thursday, but sales are booming.

Follow Adelia Cellini Linecker on Twitter @IBD_Adelia.

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