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They said the software already had safeguards in place to contain and minimize the impact of any security breaches, including a fairly strict isolation of systems related to driving and entertainment. “All the displays go absolute, the sounds will be off and of course the...

Earlier this year, BMW had to offer a software patch after hackers remotely unlocked the doors of its cars.

PALO ALTO, Calif-Tesla Motors Inc. has announced its intent to offer approximately US$500 million of additional shares of common stock in an underwritten registered public offering.

Tesla Motors, whose Model S is the latest vehicle to be hacked, has already issued a patch to shield software weaknesses.

The company said it has deployed and developed an over the air update to Model S holders to tackle the “vulnerabilities”.

After a Wired article demonstrated how security researchers could remotely disable a new Jeep Cherokee by worming into the car’s infotainment system, automakers are under increased scrutiny over their digital security.

“The easiest way companies can stay ahead of hackers is to acknowledge that their developers can’t be expected to be experts across every subspecialty of the development chain, and utilize security-as-a-service platforms that keep up with the vulnerabilities for...

For the following year, however, Tesla is looking at being able to produce between 1,600 and 1,800 Model S and Model X vehicles per week. The company lowered its annual sales outlook citing pricing pressure as the dollar continues to strengthen against other currencies.

Tesla said it will reveal the design of its Model 3 – a $US35,000 “mass-market” auto – in the first quarter. As of now, the upcoming model is in road testing phase, and the firm is ramping its production to meet the pre-orders by this year.

“First of all, it’s good for the quarterly results, having a higher number of deliveries”, Robert W. Baird analyst Ben Kallo told IBD.