Tesla will be seeking regulatory approvals in China, Europe, and other markets after the upcoming versions of its Full Self-Driving (FSD) software (v12.5 or v12.6) are released “pretty soon,” chief executive Elon Musk told investors during the company’s second-quarter earnings call on Tuesday. “I think we are likely to receive that before the end of the year, which could be helpful to drive demand in those regions,” Musk added, without revealing further details.
The comments come after a Reuters report in May saying that the US automaker hopes to allow Chinese owners to access the advanced driver assistance system at about $98 per month this year, preparing for the software registration process with China’s top industry regulator. Tesla’s FSD software will be going after a number of similar offerings from Chinese rivals such as Huawei, Xpeng Motors, and Li Auto, which have been trying to improve the availability of their technologies with sophisticated AI algorithms and affordable sensors, TechNode has reported. Tesla’s total revenue increased slightly 2% to $25.5 billion from a year earlier, while automotive sales and total profit dropped for a second straight quarter, as the company is facing more competition both at home and in China. [TechNode reporting]