Tesla Inc TSLA.O Chief Executive Elon Musk on Tuesday evening tweeted that the electric car maker will be rolling out a new version of its Full Self Driving software, the latest attempt by the California-based company to tout autonomous driving.
Tesla’s “Full Self Driving” software would be an important source of revenue, once it is fully deployed. Tesla owners have paid $8,000 up front in hopes of eventually receiving the upgrade. In the second quarter alone, Tesla recognized $48 million of FSD deferred revenue. Tesla reports third-quarter results after the New York market closes on Wednesday.
WHAT DOES ‘SELF-DRIVING’ MEAN?
The Society of Automotive Engineers (SAE) and most automakers define five levels of automation here Levels 0 to 2 include features such as automated braking systems (ABS) and lane departure warnings that need to be supervised by a driver. Liability for vehicle behaviour rests with the vehicle owner rather than the manufacturer.
Several automakers say they are ready to deploy Level 3 systems that automate highway driving, but require drivers to remain ready to take control.
IS TESLA CAPABLE OF AUTONOMOUS DRIVING ANYWHERE?
Tesla’s Autopilot has been criticized by the National Transportation Safety Board for allowing drivers to turn their attention from the road, leading to deadly accidents.