NEW YORK (TheStreet) –– Tesla Motors (TSLA) - Get Tesla Inc Report is attempting to put an end to fears that its Model S electric vehicle will ever run out of power, one of the biggest reasons people don't buy electric cars.
On Thursday, Tesla unveiled Version 6.2 of the software, which makes it "basically impossible to run out of range, unless you do so intentionally," CEO Elon Musk said. The new software, currently in beta testing, will allow Model S drivers to communicate in real time with the Supercharger network and the destination chargers, warning you if your charge is low, before you drive out of range.
Earlier in the week, Musk tweeted that he hoped to "end range anxiety," a common problem for owners of electric vehicles.
Musk also teased the next version of the software, Version 7, which would not only offer a complete change to how it looks but include auto-steering as well. Musk noted Palo Alto, Calif.-based Tesla is currently testing a route between San Francisco and Seattle and can drive almost the entire route without the driver touching the steering wheel at all.
Investors seemed disappointed with the announcement, sending shares lower Thursday. It's unclear, however, whether the upgrade will actually help end range anxiety, which Musk said was one of the biggest reasons consumers walk away from an electric car.
We want to know. Are you going to buy a Tesla Model S now that the company has tried to address concerns of range anxiety? Results will be released Monday afternoon.