Tesla Analyst Narrowly Avoids Crash Testing 'Full Self-Driving' Feature
ICARO Media Group
In an event that highlights the ongoing debate over Tesla's driver-assistance system, a Truist Securities analyst, William Stein, nearly crashed while test-driving a Tesla vehicle equipped with the Full Self-Driving (FSD) feature.
Stein's experience, detailed in a report to clients on Monday, revealed a potential safety concern with the FSD system. While driving through New York suburbs, Stein had to intervene quickly to prevent a collision as the Model Y accelerated through an intersection where a car in front had only partly completed a right turn.
Despite the close call, Stein maintained his hold rating on Tesla's stock and a $215 price target. He expressed confusion over what Tesla might reveal at an upcoming event showcasing robotaxi prototypes, which Elon Musk confirmed had been delayed by about two months.
Musk, Tesla's CEO, has been emphasizing the FSD system and the company's artificial intelligence efforts as a strategy to boost sales amid a challenging year for Tesla's stock performance. The recent deployment of an updated version of FSD aims to enhance the driving experience, although Musk has clarified that Tesla vehicles are not yet autonomous.
Stein's mixed review of the FSD system highlighted both impressive adaptations to road conditions and concerning instances of permissiveness. Notably, Stein was able to divert his attention away from the road for a significant period before receiving a warning from the system.
While acknowledging the "amazing" capabilities of the FSD system, Stein concluded that it falls short of achieving full autonomy, echoing sentiments previously expressed by Musk. The analyst's experiences shed light on the complexities and challenges associated with developing truly self-driving vehicles.
Tesla, as of last week, saw a 12% decrease in its stock value before climbing following positive ratings from Morgan Stanley. The incident involving Stein serves as a reminder of the ongoing scrutiny and skepticism surrounding Tesla's FSD feature and the broader pursuit of autonomous driving technology.