It also likely aimed at dealing with the regulators’ plan of conducting an investigation on Tesla’s autopilot system.
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So the announcement from Tesla’s CEO Elon Musk should ease some fears surrounding the safety of autonomous vehicles.
The Tesla autopilot update reportedly worked around that issue. In comparisons of Autopilot and driver-assist systems from other automakers, it’s evident there’s a huge gap between Autopilot’s performance and the performance of competing systems available in other production vehicles.
And while all three of these factors have been weighing on the Tesla Motors stock price, we view this recent dip as an excellent buying opportunity for long-term investors.
Musk said that Tesla has upgraded its self-driving feature. Of course, the key word here is “could”.
Tesla already manufactures Powerwall and chargers for its cars – but if a customer wants to use solar energy to power their home and Tesla, they now must lease solar panels from a third-party company that installs them.
Autopilot, however, is statistically safer than unassisted driving.
More interesting is the fact that Elon Musk referred to tragic death of Joshua Brown and he observed that the new Autopilot could have saved Brown’s life.
The revised system will sound warnings if drivers take their hands off the wheel for more than a minute at speeds above 45 miles per hour (72 kph) when there is no vehicle ahead.
Money Morning experts view Tesla as much more than a vehicle company.
Tesla Motors, Inc. (NASDAQ:TSLA) Auto Manufacturers – Major has a current market price of 196.05 and the change is -1.13%.
On a conference call with reporters, Musk said he thinks that the improvements, which will roll out globally in the next week or two in the form of a software update, would have prevented that crash. He has the middle-class product to prove it: the “Model 3”, scheduled for late 2017 if all goes well.
Silicon Valley-based Tesla is known for its innovation in luxury electric vehicles but some critics have said it was hasty in rolling out Autopilot.
Chanos has been betting against Tesla for a while now, first revealing his short position in the electric carmaker last May.
The world’s biggest tech company forgot to show you something, but a few Wall Street analysts and the Fool didn’t miss a beat: There’s a small company that’s powering their brand-new gadgets and the coming revolution in technology. “I wish we could have done it earlier”.
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08/04/2016 – Tesla Motors, Inc. had its “perform” rating reiterated by analysts at Oppenheimer. Sales growth in the quarter for Tesla Motors, Inc. Try any of our Foolish newsletter services free for 30 days. What is ur best guess as to where we actually come in on q3/4 deliverables. The Motley Fool has a disclosure policy.
