Tesla (NASDAQ:TSLA), the leading EV manufacturer, plans to roll out an over-the-air update for 2.03 million vehicles to address Autopilot control concerns raised by the National Highway Traffic Safety Administration (NHTSA). The agency has been investigating Tesla for over two years on whether drivers pay attention when using the company’s driver assistance system.
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Tesla’s Autopilot can be used to enable cars “to steer, accelerate, and brake automatically within their lane,” while its advanced Autopilot system assists drivers in changing lanes on highways.
The NHTSA has highlighted potential crash risks when drivers don’t maintain control or fail to recognize system changes. Tesla’s update will target certain Model S, X, 3, and Y vehicles.
Is Tesla a Buy, Hold, or Sell?
Overall, analysts remain cautious about TSLA stock with a Hold consensus rating based on 14 Buys, 13 Holds, and six Sells. In the past year, TSLA stock has soared by more than 40%, and the average TSLA price target of $245.89 implies an upside potential of 3.75% at current levels.
