Tesla CEO Elon Musk dissed and praised the EV maker's self-driving capabilities on Monday, all within the span of a few hours. Last night, Musk tweeted that in a ride across town in Los Angeles the car's FSD 9.3 (Full-Self Driving beta) was "much improved," just nine hours after tweeting the 9.2 version was "not great." Tesla stock edged higher Tuesday.
Musk's take on Tesla FSD's merits has fluctuated wildly in just the last few weeks. In a call with investors earlier this month, he said it was "debatable" if FSD monthly subscriptions were worth it, just weeks after Tesla launched the $199 monthly offering.
On Monday night, Musk said he had used FSD Beta 9.3 from Pasadena, Calif., to Los Angeles International Airport. The typical route is roughly 27 miles, including 25 miles of highway driving. It's unclear at what time he made the trip, but he tweeted at 10:17 p.m., and the Google Maps feature showed no traffic slowdown or congestion on the route between 9 p.m. and 10 p.m. PST.
Musk often will tout upcoming FSD releases, then make lackluster comments a few weeks later while pivoting to the next iteration.
Tesla Autopilot, FSD Under Scrutiny
Tesla Autopilot and Full Self-Driving have been under growing scrutiny lately. On Aug. 19, lawmakers sent a letter to the Federal Trade Commission asking the agency to look into Tesla's self-driving claims. Senate Democrats Richard Blumenthal and Edward Markey said Musk's comments have "persistently misrepresented" Tesla's capabilities. They said the misleading comments put drivers and the traveling public in danger.
The letter followed the Aug. 13 news that the National Highway Transportation Safety Agency had launched a formal probe into several Tesla crashes involving Autopilot. The agency is looking at 11 crashes with Autopilot engaged. The incidents go back to 2018. The accidents involved a Tesla striking one or more vehicles at first responder sites. The crashes hurt 17 people and killed one person.
Google Waymo Begins Self-Driving San Francisco Rides
Google unit Waymo self-driving cars will now open up test rides in San Francisco, after offering rides in Phoenix for three years. People can sign up for rides in San Francisco, according to a Waymo blog post. Waymo's self-driving software is L4, meaning it should require no human intervention with a geofenced area. But the San Francisco rides, for now, will include a human driver as backup.
Several other companies are testing L4 systems, including Cruise, majority owned by General Motors, and Argo, controlled by Ford and Volkswagen.
Despite their names and marketing, Tesla tells regulators that Autopilot and Full Self-Driving are Level 2 systems, which means drivers must pay attention and be ready to take over at any time.
Nasdaq Hits Milestone; 7 Stocks Top Buy Points
Tesla Stock
Shares rose 0.3% to 708.49 on the stock market today. TSLA stock is offering up a new aggressive buy point of 730. The buy range goes to 766.50.
MarketSmith chart analysis shows Tesla stock has found support at its converged 50-day and 200-day lines.
Tesla is a Leaderboard stock. Its relative strength line is going sideways. Tesla's RS Rating is 85 out of a possible 99. Its EPS Rating is 72.
Among other U.S. based carmakers with a growing EV footprint, General Motors was up 2.9% and Ford rose 2.75%.
Google stock advanced 0.9% to a new high.
Tesla's China-based rivals Nio climbed 2%, Li Auto rose 4.3% and Warren Buffett-backed BYD inched up 0.8%, closing in on a buy point and all-time high. Xpeng, which reports earnings Thursday, rose 2.2%.
Follow Adelia Cellini Linecker on Twitter @IBD_Adelia.
