Tesla, Inc.’s TSLA full-self driving software — currently in advanced beta testing — could move on to another milestone event this month.
What Happened: The FSD beta will likely allow drivers to turn off notifications requiring them to “tug consistently on steering wheels,” Ark Invest analyst Tasha Keeney said in “Ark Disrupt,” the firm’s weekly innovation newsletter. This would help turn Autopilot into a “hands-free experience,” she said.
The analyst drew the conclusion from Tesla CEO Elon Musk’s reply to an influencer’s tweet in late December regarding giving the beta testers the option to turn off the steering wheel.
“Agreed, update coming in Jan.,” the billionaire said.
Tesla FSD Vs. GM’s Super Cruise Musk’s statement shows Tesla has become more confident in its progress toward a truly autonomous vehicle, Keeney said.
Comparing Tesla’s FSD suite and General Motors Corp.’s Super Cruise semi-autonomous driving software, the analyst said the former’s hands-free beta system would work on surface streets as well as the highway, the latter’s allow hands-free driving only on the highway.
Tesla plans to unveil its next-gen vehicle platform, likely a purpose-built robotaxi, at the Investor Day scheduled for March 1. Cathie Wood-led Ark expects robotaxis to transform Tesla’s business model and eventually account for 60% of its enterprise value in 2026.
Incidentally, Keeney issued an updated price target of $500, after adjusting for the three-for-one split in mid-2022 and removing autonomous driving and any form of ride-hailing service, from the valuation framework.
In premarket trading on Monday, Tesla shares were rising 3.28% to $116.76, according to Benzinga Pro data.