Tesla has upgraded the self-driving hardware on its Model Y electric vehicle sold in China to Hardware 4.0. HW 4.0 features improved cameras, sensors, and computing power to enable autonomous driving capabilities. The upgrade will be provided free of charge when customers purchase the Model Y in China. Tesla faces rising competition in China from automakers like BYD, Nio, and Xpeng, who are focusing on technology. The hardware upgrade allows Tesla to better compete on features like self-driving as sales pressure mounts.
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00:00 It's Benzinga and here's what's on the block.
00:02 Tesla has upgraded the self-driving hardware on its Model Y electric vehicle sold in China to
00:07 hardware 4.0HW. 4.0 features improved cameras, sensors, and computing power to enable autonomous
00:15 driving capabilities. The upgrade will be provided free of charge when customers purchase the Model
00:20 Y in China. Tesla faces rising competition in China from automakers like BYD, NIO, and XPeng,
00:27 who are focusing on technology. The hardware upgrade allows Tesla to better compete on
00:32 features like self-driving as sales pressures mounts. Tesla warned of lower vehicle volume
00:36 growth in 2024 after cutting prices globally to boost demand. For all things money visit Benzinga.com