The best-known feature of Tesla Inc (NASDAQ:TSLA) automobiles is their Autopilot capability.
Teslas capable of fully driving themselves today, but the company promises all cars sold have the hardware needed for Full Self Driving, or FSD, and the automaker plans to achieve its goals with over-the-air software updates.
Tesla's Newest Software: Tesla's latest vehicle update — 2020.24.6.1 — has the automaker's updated FSD ability.
Earlier this year, TESLA upgraded all vehicles to stop at intersections, stop signs and stop lights.
The caveat to this feature: cars would even slow to a stop at green lights, unless the driver confirmed it was safe for the car to continue through the green light.
In the latest update, Tesla's vehicles can now proceed through a green light without driver confirmation, assuming there is a lead car that shows the Tesla it is safe to go through the green light.
Without a lead car, the Tesla behaves as it did before, slowing as it approaches the green light, until the driver confirms with either the accelerator or drive stalk that it is safe to proceed.
Tesla's Full Self-Driving Pricing: Tesla CEO Elon Musk tweeted that the price of Full Self Driving will increase from $7,000 to $8,000 July 1 as the FSD feature gains new abilities and becomes more competent.
Tesla is not able to recognize the full revenue from FSD sales. When a customer purchases FSD, only half of the money is recognized as revenue, while the rest is deferred as new FSD features are rolled out.
Once all features have been released to customers, Tesla can recognize 100% of revenue from FSD sales.
TSLA Price Action: Tesla shares were trading 6.41% higher at $1,074 at the time of publication Tuesday.
Photo courtesy of Tesla.