Tesla Motors

Tesla Motors

16 September 2016

Important legal information

Tesla Motors, the American automotive and energy storage company, has unveiled a new enhanced autopilot software system less than five months after the fatal Tesla car crash while on autopilot in May 2016. The accident rose questions concerning the safety of the company’s autopilot driver assistance technology, which had been considered the most advanced driving assistance technology on the market at that time.

Tesla’s newly launched radar sensor system will roll out worldwide in the end of September and is set up to detect metallic objects to further enhance safety and to reduce future accidents. Nevertheless, the previously implemented autopilot software system which primary input was camera images was better in detecting non-metallic objects like animals, a concern Elon Musk admitted , Chief Executive Officer at Tesla. However, the new software is a “massive enhancement” compared to the previous technological system and the radar sensor will be able to see through rough weather conditions, e.g. dust, fog and snow, according to Mr. Musk.

 

Moreover, Tesla has been collaborating with the Israeli company Mobileye in developing vision capability for cars. Mobileye has supplied Tesla with cameras and technology for the Model S electric-car and functions for the autopilot features that became a central part of debate in regards to the fatal Tesla car accident.

 

Recent news revealed an attempt by Mobileye to block the joint operations after the company found out that Tesla also was developing its own vision system in-house. Tesla refused Mobileye’s demand to end the in-house operation and the request to pay more to Mobileye in exchange for continuing the collaboration. As a consequence, Mobileye stopped the hardware support function and released public statements where the discontinuation was motivated by safety concerns. After the announcement Tesla responded Mobileye had been unable to keep pace with Tesla’s further product developments, according to business news provider CNBC.

 

What is your opinion on Tesla Motors’ share price development after the recent news? Go Long or Short and leverage your Tesla-trade with Vontobel Bull & Bear Certificates and Mini Futures.

 

Bloomberg consensus set the 12-month target price to USD 250.92. Currently, 8 (38.1%%) analysts set Tesla Motors on BUY, 7 (33.3%) on HOLD and 6 (28.6%) on SELL recommendation.

 

04/12/2020 22:25:48