Tesla (NASDAQ: TSLA) boss Elon Musk recently tweeted that his electric car company will release a significantly improved self-driving hardware — Full Self-Driving (FSD) Beta V 9.0 — which will be all vision-based and not even include radar, a staple of driver-assist systems. This is in strong contrast to other self driving co.’s that use a combination of inertial measurement units, including radar, to make driving decisions.
Now several reports suggest that Tesla has updated its website to reflect this change, a change consistent with Musk’s vision for the company’s next-generation FSD technology.
Earlier this year Musk said he was moving towards a vision-only system for his Tesla models. The move is most likely the final step before the company can release FSD to the wider public. In fact, in a statement made in late April, Musk said that Tesla had began building all cars with its new FSD hardware computers starting with the Model S and Model X in March and all Model 3s starting in April.
Some have suggested that a delay in deliveries — especially for the refreshed Model S and X — may be related to these models receiving their most significant update since their debut.
Tesla’s software development, which could mark the company’s transition from a traditional car manufacturer to an operator of self-driving AI robo-taxis, will most likely bring Tesla vehicles on par with human drivers in all aspects of driving.
ARK Invest, the ETF run by Cathie Wood, predict the move will significantly increase Tesla’s profitability making it possibly the most valuable company in the world.
Tesla shares gained $3.56 to $610 in pre-market trade. The ticker of the $584 billion market cap company is up more than 1,300% in the past five years. TSLA rose eight fold in 2020 to become the world’s most valuable automaker.