What We’re Reading
Tesla finally releases FSD v12, its last hope for self-driving (Electrek, January 22, 2024)
In what many industry insiders consider to be a last-ditch effort to finally deliver on its highly scrutinized fully self-driving platform, Tesla has finally started releasing its FSD Beta v12 update to customers. The new software update is expected to utilize the highly teased and purportedly revolutionary neural net-powered controls. According to Tesla, this means the new end-to-end neural nets will be powered by AI, like its vision system, rather than traditionally engineered coding.
Although little is known of the original testing of the software since it was limited to Tesla’s internal fleet, proponents are optimistic that Tesla will finally deliver on its long overdue self-driving promises.
Tesla’s new compact crossover is reportedly coming in 2025, but will it cost $25,000? (The Verge, January 24, 2024)
As Tesla continues to compete with Chinese automaker BYD, the automaker is reportedly planning to release a new model with a $25,000 price tag. BYD, who overtook Tesla in the last quarter of 2023 as the top EV automaker in the world, has grown rapidly, largely due to its affordable electric vehicles.
Elon Musk has teased a more affordable Tesla model several times over the years, but Tesla has struggled to lower its prices, even increasing the price of the Cybertruck to $60,990 from its initially announced price of $39,900.
The new Tesla model, nicknamed “Redwood,” is expected to be a compact crossover with a 2025 production year. Tesla is apparently planning to produce 10,000 vehicles per week. Only time will tell if this new model will be enough for Tesla to take back the throne as the top EV carmaker in the world, or if BYD will continue its global growth, especially as the Chinese carmaker is planning to introduce more premium vehicles to compete with Tesla’s existing models.
Teslas crash more than gas-powered cars. Here’s why (CNN, January 18, 2024)
Relying upon insurance claim data from owners who transitioned from ICE vehicles to EVs, insurance analyst at LexisNexis Risk Solutions found that the frequency of accidents for the new EV owners increased by 14.3%, with the highest frequency rates occurring in the first year of EV transition. Interestingly the research also revealed similar trends in China, which suggests the issue is not solely a “Tesla problem.”
Given that crash frequency appears to have an inverse relationship to the length of EV ownership, the findings suggests that unfamiliarity has something to do with the increased accident ratio, said Xiaohui Lu, head of EV research at LexisNexis Risk Solutions. According to Lu, perhaps the best explanation for this is the higher acceleration capabilities of EVs combined with their large, dense battery packs that add more weight to the vehicle. “Most drivers are trained in driving [internal combustion] vehicles and they’re applying the habitual amount of pressure on the driving pedal but the behavior is very different, particularly in low-speed zones,” said Lu.