We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tesla (TSLA) to Register FSD Software With Authorities in China
Read MoreHide Full Article
Tesla (TSLA - Free Report) is getting ready to register its Full Self Driving (FSD) software with authorities in China, making progress toward its plan of launching the technologically advanced feature this year, per Reuters.
The EV manufacturer is contemplating its plan to sell the software on a monthly subscription basis to its users in China.
If the automaker successfully registers the software with China's Ministry of Industry and Information Technology, it will be able to start conducting internal testing of FSD on public roads in China. Following that, it will offer upgrades to its customers in China in the coming months.
Currently, Tesla offers two precursory versions of its Autopilot driver assistance system in China.
The automaker presently offers its vehicle owners access to FSD for a one-time fee of 64,000 yuan. In the future, it may offer service for a monthly fee equivalent to about $98.
Tesla is also mulling over its plan of licensing FSD to other automakers in China.
Sales of FSD in China would generate a new source of revenues for Tesla. In the first four months of 2024, the sales volume of TSLA in China fell 7.6% due to price competition with local EV makers.
Tesla is intensifying efforts to develop its self-driving system using data collected and processed in China. The company is preparing to roll out version 12 of its FSD software in China, aiming for fully autonomous driving.
Tesla will join at least 10 automakers and suppliers, including Huawei and Xpeng, offering level-two autonomous driving capabilities in China. Unlike TSLA, which charges for FSD, competitors like Li Auto and Xpeng provide similar systems for free on high-end models, while others like Nio offer free trial periods.
Level-two systems, including FSD, require attentive drivers, but the company claims that fully autonomous vehicles are close. Tesla plans to reveal details about its robotaxi program in August. Its AI model, an end-to-end neural network, differs from traditional rule-based algorithms, potentially enabling faster learning and more human-like decision-making. Huawei and Xpeng are also developing similar AI models for autonomous driving.
The Zacks Consensus Estimate for GELYY’s 2024 sales suggests year-over-year growth of 36.6%. The earnings per share (EPS) estimates for 2024 and 2025 have moved up 21 cents and 34 cents, respectively, in the past 30 days.
The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 9.86% and 11.92%, respectively. The EPS estimates for 2024 and 2025 have improved 12 cents and 10 cents, respectively, in the past seven days.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Tesla (TSLA) to Register FSD Software With Authorities in China
Tesla (TSLA - Free Report) is getting ready to register its Full Self Driving (FSD) software with authorities in China, making progress toward its plan of launching the technologically advanced feature this year, per Reuters.
The EV manufacturer is contemplating its plan to sell the software on a monthly subscription basis to its users in China.
If the automaker successfully registers the software with China's Ministry of Industry and Information Technology, it will be able to start conducting internal testing of FSD on public roads in China. Following that, it will offer upgrades to its customers in China in the coming months.
Currently, Tesla offers two precursory versions of its Autopilot driver assistance system in China.
The automaker presently offers its vehicle owners access to FSD for a one-time fee of 64,000 yuan. In the future, it may offer service for a monthly fee equivalent to about $98.
Tesla is also mulling over its plan of licensing FSD to other automakers in China.
Sales of FSD in China would generate a new source of revenues for Tesla. In the first four months of 2024, the sales volume of TSLA in China fell 7.6% due to price competition with local EV makers.
Tesla is intensifying efforts to develop its self-driving system using data collected and processed in China. The company is preparing to roll out version 12 of its FSD software in China, aiming for fully autonomous driving.
Tesla will join at least 10 automakers and suppliers, including Huawei and Xpeng, offering level-two autonomous driving capabilities in China. Unlike TSLA, which charges for FSD, competitors like Li Auto and Xpeng provide similar systems for free on high-end models, while others like Nio offer free trial periods.
Level-two systems, including FSD, require attentive drivers, but the company claims that fully autonomous vehicles are close. Tesla plans to reveal details about its robotaxi program in August. Its AI model, an end-to-end neural network, differs from traditional rule-based algorithms, potentially enabling faster learning and more human-like decision-making. Huawei and Xpeng are also developing similar AI models for autonomous driving.
Zacks Rank & Key Picks
TSLA currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Geely Automobile Holdings Limited (GELYY - Free Report) , Blue Bird Corporation (BLBD - Free Report) and Oshkosh Corporation (OSK - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GELYY’s 2024 sales suggests year-over-year growth of 36.6%. The earnings per share (EPS) estimates for 2024 and 2025 have moved up 21 cents and 34 cents, respectively, in the past 30 days.
The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 9.86% and 11.92%, respectively. The EPS estimates for 2024 and 2025 have improved 12 cents and 10 cents, respectively, in the past seven days.