Tesla Has A 10-Year Technology Lead On Competition, Analyst Says

• Tesla Motors Inc (NASDAQ: TSLA) shares are down 7 percent since December 11.
• Global Equities’ Trip Chowdhry mentioned the Auto-Summon feature introduced by Tesla.
• Other automakers offered nothing “to cheer about” at the CES, Chowdhry stated.

On January 9, Tesla updated the Software to Version 7.1, and now has Auto-Summon Feature, which allows the company’s vehicles to be summoned out of the garage and sent back into the garage, without a driver.

The range of auto-summon is limited to 37 feet, with the Software being linked to Home-Link component, ultrasound sensors and radar to enable the car to automatically open the garage door, back out, park and automatically close the garage door.

Analyst Trip Chowdhry commented, “Tesla continues to push the innovation boundaries, and has at-least 10 years technology lead.” He added that OTA [Over-the-Air] update is “critical for technology centric automobiles.”
Over the last 2 to 3 years, Tesla has made more than 30 major software updates, Chowdhry pointed out.

At the CES, “there was nothing to cheer” about the announcements made by General Motors Company (NYSE: GM), Volkswagen AG (ADR) (OTCMKTS: VLKAY) and Ford Motor Company (NYSE: F). All existing automakers appear “clueless” and “are destined to fail if they cannot provide OTA updates,” the analyst said.