Tesla Motors Inc shares have been having a great time on Wall Street since last week after the market reacted positively to news of its shares dilution. The bears might say that Tesla Motors stock was having an uptrend based on financial acts that has nothing to do with the core business of the firm. However, Tesla Motors was in the news again on Tuesday with core business updates that match the upbeat tone of the market on its stock.
A report from IEEE Spectrum shows that Tesla Motors has released the latest version of its Autopilot system for beta testing for some Model S owners. Autopilot 7.0 as the update is called, “will manage lane-keeping, mind the gap to the car in front and behind, and handle much of the braking and acceleration.” The firm says that beta-test drivers will still need to stay alert and hit the turn signal at intervals.
Autopilot is almost here
In the middle of July, pictures of Tesla Motors upcoming Model X showed that the SUV was outfitted with many sensors but it appears that it lacked an autopilot feature. Tesla Motors refused to confirm or deny the said Model X, its sensors, and the presence/absence of autopilot.
However, at the end of July, Tesla Motors mentioned that it was ready to update Model S with self-driving features. In Tweet, Musk said the firm was “almost ready to release highway autosteer and parallel autopark software update.” The last update on autopilot came up last week, when the firm said that self-driving features of Tesla Motors EVs are approaching at a ludicrous speed.
Autopilot 7.0 is now in beta testing and a summer launch is most likely in the books. Autopilot is not yet at the point where you can enter your car, sleep off, and wake up at your destination. Musk says, “We don’t want to set the expectation that you can basically pay no attention to what the car is doing”.
Yet, Autopilot 7.0 can do some amazing things. Musk says, “You basically have high confidence in steering, braking and acceleration, basically when you are in some kind of traffic situation where there is a car right in front of you… And it will get better over time as we refine the software.”
No wonder Morgan Stanley is bullish
Tesla Motors investors had a pleasant surprise yesterday after Morgan Stanley said the shares of the firm were worth $465 each. Auto analyst for Morgan Stanley, Adam Jonas said Tesla is a “Top Pick” and that its money woes will soon be solved as the firm continues to monetize its expertise in EVs and autonomous technology.
The analyst also thinks that Tesla Motors has what it takes to replace Uber because it is “well positioned for fleet management in a shared mobility model.”
Autopilot 7.0 is already in beta testing and it provides one more reason for would-be owners to write the checks for Tesla pre-orders. Debuting autopilot in the upcoming Model X and Model 3 should definitely be in the books for Tesla – the only problem ahead is that Tesla Motors might not be able to make its cars as fast as it sells them.