Tesla’s Model 3 or Model Y cars will be monitored by in-car cameras when in autopilot mode. The new feature was added with a new software update, which gives the user an option to share the data or store it locally. Elon Musk, in a tweet, said that radars were not being used, instead, in-built cameras will keep track when on autopilot. There is much speculation regarding driver safety around in-car cameras as Tesla has lost its “Top-Pick” status from consumer reports.
Bitcoin, following Elon Musk’s tweet, rallied from a three-month low in a session that went back and forth. Musk, however, clarified speculations and said Tesla has not sold any bitcoins. On Monday bitcoin dropped almost 9% but rallied back to more than 5%. Ether dropped to $3,123.94 and dogecoin dropped nearly 7%. Ever since Musk tweeted about Tesla not accepting payments in bitcoins for cars, bitcoin has dropped by almost a quarter.
Elon Musk has taken a step back on his stance on bitcoin and halted payments of cars via bitcoins. Tesla is concerned about the use of fossil fuels for mining bitcoins that have a disastrous effect on the environment. Following the tweet by Musk, bitcoin fell more than 4%. Tesla, in this quarter, spent $1.5bn on bitcoin and then cut its position by 10%. The sale made a $101mn positive impact on the company’s profit during the period.
Tesla, later this year, will launch a platform to allow customers in China to access the data generated by their cars. This has never happened before in China which is the world’s largest car market and highly controlled market, Data collected from Tesla electric cars, via multiple sensors installed in the vehicle in form of pictures and videos, is stored locally in the country. Tesla makes Model 3 sedans and Model Y sport-utility cars in China.
Elon Musk said that Tesla is not just an electric-car maker but going forward people will know it as an AI robotics company. He said that Tesla was in the process of building one of the strongest hardware and software AI teams across the globe. “We appear to be able to do things with self-driving that others cannot. So and if you look at the evolution of what tech we have developed, we developed them in order to solve the problem of self-driving,” he said.
WeWork will start accepting payments in select cryptocurrencies to become the latest entry in the elite firms jumping into the digital currency space including Tesla, Visa, Bank of NY Mellon. The Softbank backed firm has partnered with Coinbase Global and Bitpay to facilitate transactions. Visa, last month, also started accepting payment settlements using cryptocurrency, similarly, PayPal also launched a crypto checkout service.
Two people died in a road accident involving a Tesla vehicle, most probably operating without a driver in Texas. Local authorities said that the 2019 Tesla Model S was travelling at a very high speed and failed to negotiate a curve and went off the road. The car crashed into a tree and burst into flames. When the fire was extinguished two bodies were found inside a car, while the driver’s seat was lying vacant.
China’s Geely Holding owned Volvo Cars will use a new generation of high-powered chips developed by Nvidia to give more autonomous driving functions in its future cars, starting from the next year. Volvo, like many others car manufactures, is putting digital processing power ahead of the traditional horsepower as they try to catch up with Tesla. Nvidia, because of the computing power race among car manufacturer, has benefited the most among chipmaker.