Tesla plans for full self-driving, known as FSD, to be available in China and Europe in the first quarter of 2025, pending regulatory approval, according to a "roadmap" for its artificial intelligence team the EV giant released early Thursday. TSLA shares angled higher.
The company announced on Chief Executive Elon Musk's social media site, X, early Thursday morning an outline with FSD target timelines. The list includes FSD coming to the Cybertruck this month and the aim for around six times the "improved miles between necessary interventions" for FSD by October. This is along with its goal of Q1 2025 for FSD in China and Europe.
Musk on the Q2 earnings call in July said that Tesla would likely receive regulatory approval to launch FSD outside the U.S., including Europe and China, by the end of 2024.
FSD sales and subscriptions in those huge EV markets could provide a new revenue stream for Tesla.
Tesla also aims to roll out FSD V13 in October vs. the current V12.5
The "roadmap", posted by Tesla AI team, does not include any mention of the robotaxi, which is scheduled to be unveiled on Oct. 10. Tesla is going to hold that event at the Warner Bros. studio in Burbank, California, according to a recent Bloomberg report. Investors appear to be waiting for the reveal event, as Tesla stock has struggled to advance above key levels of resistance in recent weeks.
Tesla stock advanced 4.9% to 230.17 during market action on Thursday, reclaiming its 50-day moving average and offering an early entry to investors. On Wednesday, TSLA gained 4.2% to 219.41.
Tesla Stock Performance
TSLA shares fell 2.8% last week and declined 7.7% in August to 214.11, dropping below its 50-day line.
Tesla stock is down around 12% in 2024, but has rebounded about 60% from a late-April low amid some steep ups and downs.
Shares rallied onto positive ground for the year in mid-July, then rolled over into a five-week slide. Now, into an attempt to climb out of that ditch, the stock has regained support above the 200-day line, but is struggling to hold support at its 50-day moving average, according to MarketSurge charts.
A strong move above the 50-day line could offer an aggressive entry, perhaps using the Aug. 20 high of 228.22 as a specific trigger. That would also move TSLA up the right side of new base, which has a 271 buy point, though the stock is near the bottom of the consolidations.
Tesla stock ranks third in the 35-member IBD Auto Manufacturers industry group. The stock has a 67 Composite Rating out of a best-possible 99. Shares also have a 74 Relative Strength Rating and a 57 EPS Rating.
Please follow Kit Norton on X @KitNorton for more coverage.
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