Tesla Motors, Inc. (NASDAQ:TSLA) recently announced that it will launch a new all-wheel-drive version of electric sedan Model S. The car, with self-driving features known as auto pilot, will be able to park on its own and sense unsafe situations. The all-wheel drive version will be known as P85D and will be priced at $120,000.
Tesla also announced that the P85D will be featuring a dual motor -- this all-wheel drive vehicle will have one motor powering the front wheels and one powering the rear wheels. This will increase the control of the vehicle. Tesla's all-wheel-drive system enhances the speed, acceleration and mileage of the vehicle by optimizing the motor usage. The all-wheel-drive system also facilitates traveling through slippery roads.
Further, the autopilot features incorporates long-range radar, image recognition system, which identifies things like stop signs and pedestrians, and a 360-degree ultrasonic sonar. Thus the vehicle will reverse back if it gets off lane and will apply brake automatically if there is any obstacle. However, the drivers will be responsible and need to maintain attention on the road even if they are using autonomous driving.
Tesla’s current Model S P85 is a rear-wheel-drive car with one motor. Tesla will also offer dual motors as an optional feature for the base, mid-range and the high end P85 version of Model S. The dual motor version of the P85 sedan will be able to speed up to 155 mph and accelerate from zero to 60 miles per hour in 3.2 seconds.
The base version of Model S costs $71,000, while the dual motor feature will cost another $4,000. With this, Tesla offers an electric sedan with improved speeding capabilities without compromising on safety in order to compete with other high-end sedans currently available in the market.
Other automakers are also developing automated driving technologies. In Sep 2014, General Motors Co. (NYSE:GM) announced it expects to introduce the 2017 Cadillac, integrated with the vehicle-to-vehicle technology and Super Cruise feature, in 2016. Super Cruise is an advanced automated driver assist technology. The feature will significantly enhance the driving experience with hands-off lane adherence, braking and speed control in certain highway driving conditions.
Tesla, together with other automakers, with time will develop new auto-pilot features to enable automatic brake applications and slowing down on detection of a vehicle in the vicinity. Meanwhile, Google Inc. is working on developing fully autonomous vehicles.
Currently, Tesla carries a Zacks Rank #3 (Hold). China Automotive Systems Inc. (NASDAQ:CAAS) with a Zacks Rank #1 (Strong Buy) is a better-ranked automobile stock worth considering.