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Tesla's new auto-parking feature to be ready in 6 weeks, Elon Musk says

Elon Musk tweets about new Tesla auto-parking features

An upgrade to Tesla's 'Summon' auto-parking feature will be ready within six weeks and will allow its vehicles to drive around a parking lot, find an empty spot and read parking signs, Chief Executive Elon Musk said on Thursday.

The upgrade will be compatible in all Tesla cars made in the past two years, Musk said in a series of tweets on Thursday.

"Car will drive to your phone location & follow you like a pet if you hold down summon button on Tesla app", Musk said in one of his tweets, without giving details.

The upgrade will enable owners to operate their vehicles remotely like a big remote controlled car as long as it falls within the line of sight, Musk also said.

Summon, part of Tesla's driver-assist Self-Pilot system, currently allows Model S drivers to park their cars from outside the vehicle in tight spots or to move the cars short distances to shift parking spot.

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Technology is shaking up the financial industry and big banks are struggling to adapt

Key Points
  • Rapid changes in financial technology, or fintech, are shaking up the global banking industry.
  • Banks must adopt new technologies to survive an ongoing “extinction phase” wrought by such tech, according to Stephen Bird, Citi’s global consumer banking CEO.
  • While new technologies cannot be ignored, bankers say the primary aim is to use them to provide the best service to customers.