Elon Musk's full self-driving (FSD) software a 'really big deal'
Musk suggested in 2023 that Tesla's FSD will be 'much, much better' than a human driver
Tesla will become one of the 'most valuable companies on the planet,' Christopher Tsai says
Tsai Capital CIO and President Christopher Tsai discusses Tesla's surge in the markets and the plans for a robo taxi.
Musk appeared to tout Tesla’s full self-driving (FSD) software on Monday as the company received major attention for reportedly taking a major step toward bringing it to China.
The Wall Street Journal and other outlets reported Monday that the electric vehicle (EV) maker was getting the go-ahead from the Chinese government for the software.
FSD gives "access to a suite of more advanced driver assistance features" than Autopilot "designed to provide more active guidance and assisted driving under your active supervision," per Tesla’s website.
Elon Musk, chief executive officer of Tesla Inc., pauses while speaking during the Tesla China-Made Model 3 Delivery Ceremony at the company's Gigafactory in Shanghai, China, on Tuesday, Jan. 7, 2020. Tesla kicked off production in China, marking a m (Photographer: Qilai Shen/Bloomberg via Getty Images / Getty Images)
In a move seeming to promote FSD, Musk on Monday shared footage from 2023 of himself telling Tesla shareholders the technology will be "much, much better" than a human driver.
TESLA CEO ELON MUSK MAKES SURPRISE VISIT TO CHINA
"The thing to appreciate is not that full self-driving will be as good as a person. It will be much, much better, like a lot. Over time, ten times safer than a person. It’s not even going to be a contest frankly. So, this is a really big deal," he said in the video from Tesla’s shareholder meeting last year.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 320.72 | +9.54 | +3.07% |
Tesla’s Autopilot has faced scrutiny from the U.S. government regarding its safety after some crashes.
The company’s reported FSD approval in China came after the China Association of Automobile Manufacturers said Tesla had met the country’s data security standards with its Model 3 and Y vehicles and after Musk had in-person talks with high-up Chinese politicians over the weekend.
A Tesla showroom in Santa Monica, California, US, on Friday, Jan. 13, 2023. Tesla Inc. cut prices across its lineup in the US and major European markets in the carmakers latest effort to stoke demand after several quarters of disappointing deliveries (Photographer: Eric Thayer/Bloomberg via Getty Images / Getty Images)
"Musk winning FSD approval in the key China market is a watershed moment for the Tesla story in our view," senior equity research analyst Daniel Ives of Wedbush Securities said in a Monday research note.
CLICK HERE TO READ MORE ON FOX BUSINESS
The note labeled FSD as a "key ingredient" for Tesla’s long-term growth. Tesla launched its latest version of FSD, which requires driver supervision, earlier this year.
Tesla
"If Musk is able to obtain approval from Beijing to transfer data collected in China abroad this would be pivotal around the acceleration of training its algorithms for its autonomous technology globally," Ives wrote. "We also believe this trip will be significant for Tesla and Musk further strengthening its EV footprint within the Chinese market at a pivotal time."
The market for EVs in China is a particularly crowded and competitive one, with Tesla having to vye with many Chinese-based car companies.
TESLA HAS AUTONOMOUS RIDE-HAILING SERVICE IN PIPELINE: WHAT TO KNOW
Musk has talked up Tesla’s autonomous vehicle efforts in recent weeks, saying late last week that the company was "super excited" about its road map for it, for example.
Elon Musk, chairman and chief executive officer of Tesla Motors Inc., gestures as he speaks during a news conference prior to unveiling the Model X sport utility vehicle (SUV) during an event in Fremont, California, U.S., on Tuesday, Sept. 29, 2015. ((David Paul Morris/Bloomberg via Getty Images) / Getty Images)
"I think it should be obvious to anyone who’s driving Version 12 [of FSD], and it tells that it is only a matter of time before we exceed the reliability of humans and not much time with that," he said April 23. "And we’re really headed for an electric vehicle, an autonomous future."
The company also has new Tesla models in the pipeline that Tesla said last week would hit the market next year. Some of those will be lower-cost models.