Tesla surges after Elon Musk says the first 'full self-driving features' are coming in August (TSLA)

pulse

June 11, 2018 3:44 PM

Version 9 of Tesla's software should roll out in August, CEO Elon Musk tweeted over the weekend. He also gave an update on the SpaceX version of the Roadster, which Tesla announced last week. Tesla surged more than 3% on the news when markets opened Monday morning.

The first update since 2016 "will begin to enable full self-driving feature," he tweeted.
Musk also gave updates on the Roadster's "SpaceX" package, which will include compressed air "thrusters"

Tesla surged more than 4.5% in early trading Monday following CEO Elon Musk's announcement that the carmaker's version 9 software would include the first steps to fully-autonomous driving.

"With V9, we will begin to enable full self-driving features," the chief executive said in a Tweet early Sunday, telling users that a lane-merge issue had been fixed and will roll out with other updates in August.

It's not clear what exactly full self-driving will look like in Tesla vehicles. The feature will be available on Tesla cars running Autopilot 2.0, Eletrek noted, which tacks on another $3,000 to the already $5,000 Autopilot 2.0 software.

Teslas Roadster gets rocket boosters

The crossover between Musk's two companies also appears to be accelerating.

Musk gave more details about the forthcoming SpaceX version of Tesla's Roadster in a separate tweet Sunday.

"Trade is just that Roadster becomes a 2 seater instead of a 2+2. COPV [ in place of the kid seats, which is prob wise for many reasons," Musk detailed in the first talk of the vehicle since Tesla's annual meeting last week.

There aren't any technical specs for what the compressed air thrusters might add to the Roadster, but the standard version of the vehicle, which is expected to be delivered in 2020, already boasts a speedy 0-60 time of 1.9 seconds and a 620-mile range.

Separately, a labor-dispute hearing is scheduled Monday in California, stemming from allegations the automaker broke Federal laws relating to its employees' right to unionize.

Monday's gain brings Tesla above Wall Street's average target price of $317 a share for the first time in months. Major banks have swayed from their once-bullish tone in recent months as concerns about Tesla's ability to turn a profit and live without a cash infusion weigh on investors' minds.

Shares of Tesla are now up almost 10% in the past week and 5% this year.

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