The company’s CEO tweeted the news on Wednesday, with AutoPilot 8.0 and 8.1 expected to introduce features which make its vehicles safer.
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Consider a 2016 head-to-head auto and Driver comparison of Model S’s Autopilot to the driver-assist systems from Nissan’s 2015 Infiniti Q50S, Daimler’s (NASDAQOTH: DDAIF) 2015 Mercedes-Benz S65 AMG, and BMW’s 2016 750i xDrive – the four cars vehicle and Driver said “have done the most to purge human frailties from the acts of cruising, braking, and steering”.
Tesla’s Autopilot feature has recently come under scrutiny following some accidents.
Tesla’s founder Elon Musk has revealed the company will be rolling out a new version of its Autopilot software embedded in vehicles. In the second tweet, the renowned entrepreneur noted that the update will be available to Tesla auto owners in a few weeks because they still need to do one minor revision before rolling it out. The National Highway Traffic Safety Administration in June said it would investigate the first known fatality connected to the Autopilot system, and that it’s homing in on automatic emergency braking.
Musk is about to announce improvements to Tesla’s autonomous feature after a fatal crash.
Wednesday’s SEC filing suggests that Tesla is having difficulty tapping public markets, and is facing liquidity squeeze.
“We will continue to develop, validate, and release those enhancements as the technology grows”, the company said.
Musk also reaffirmed Tesla’s need for cash, writing that “we will need to raise additional cash in Q4 to complete the Model 3 vehicle and the Gigafactory” near Reno, Nevada, which will produce battery cells.
Earlier this month, Tesla said it closed the second quarter with almost US$3.25 billion in cash, but in July it repaid US$678 million on a revolving credit line and planned to redeem US$422 million in convertible notes.
At the same time, the company needs to absorb Solar City, a company that has been losing money.
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Both companies are now facing financial difficulties due to their high operating costs and Tesla recently disclosed a securities filing revealing that it will have to pay $422 million to its bondholders during the third quarter.
