Tesla Inc.‘s (NASDAQ:TSLA) Engineering VP, Lars Moravy, has urged the U.S. Senate Commerce Committee, led by Sen. Ted Cruz (R-TX), to establish a federal framework for autonomous vehicles in the U.S.
Federal Framework
In his opening remarks to the committee on Wednesday, Moravy urged the need for a federal framework for AVs in the U.S. “At Tesla, we believe autonomous vehicles are the future,” Moravy said, adding that the vehicles presented an opportunity to improve safety and accessibility.
He shared that Tesla’s Robotaxis removed human distraction from driving, which will help AVs “dramatically cut accident rates.” However, he added that “federal regulations” haven’t been able to keep up with the development of AV technology. “We must modernize regulations that inhibit the industry’s ability to innovate,” Moravy shared.
Moravy also urged the committee that for America to maintain its position as a leader in auto manufacturing, “we must enact a federal framework for the development and deployment of AVs.” He added that the committee has the opportunity to position “NHTSA as a global gold standard for AV development.”
Lars Moravy Touts Safety From Cyberattacks
When asked about the possibility of cyberattacks on AVs, Moravy shared that Tesla has “many layers of security,” adding that the car’s driving controls were in a “core embedded central layer that cannot be accessed from outside the vehicle.”
Moravy then outlined that no firmware can be added onto the vehicle without two people signing off with two individual keys, adding that no hackers have ever been able to take control of a Tesla. “We actively participate in hacking events, paying people to try to get into our vehicles,” Moravy shared.
In a post on the social media platform X on Wednesday, Moravy said that there wasn’t an “effort too large” for Tesla to ensure safer roads.
Waymo’s Investigation
Tesla’s Robotaxi rival Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo has come under fresh scrutiny following an incident when a Waymo AV collided with a child in Santa Monica near a school zone. This follows another Waymo, driven by a human, crashing into several parked cars in Los Angeles
The investigation, according to Gary Black of the Future Fund LLC, could also hamper Tesla’s autonomous and Robotaxi efforts as it invites “regulators hit the pause button” on AV development.
Tesla’s Active FSD Subs Metric
Tesla, during the company’s Q4 earnings call, shared updated active FSD subscription figures, which clocked in at around 1.1 million worldwide. The company shared that over 70% of the subscribers paid the $8,000 upfront fee for the system.
Elon Musk had also shared that the company would stop offering the FSD service with an upfront payment after Valentine’s Day this month, instead, only offering it as a $99/month subscription.
Tesla To Be A Division Of X?
Meanwhile, investor Ross Gerber of Gerber Kawasaki has predicted that the EV giant would end up becoming another division of X following the merger of SpaceX and xAI.
Benzinga Edge Rankings show that Tesla scores well on the Momentum and Quality metrics and offers a favorable price trend in the Long Term.
Price Action: TSLA jumped 0.36% to $407.45 during after-hours trading on Wednesday after it dropped 3.78% to $406.01 at market close.
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Photo courtesy: Photo by Del Harper via Shutterstock
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