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Tesla's Cars Can Start to Drive Themselves — How Cool Is That?

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NEW YORK (TheStreet) -- Tesla (TSLA - Get Report) CEO Elon Musk unveiled the company's latest foray into autonomous vehicles, releasing Version 7 of the software which enables auto driving.

On a conference call with journalists, Musk said to think of Version 7 still as a public beta. "We want people to be careful at first," Musk said. "As we release the software and more people enable the autopilot, each driver will be an expert trainer in how the autopilot should work."

Musk also teased an upcoming software, version 7.1, which will allow the car to put itself automatically to bed in a garage, by tapping the phone app. Users would also summon the car with 7.1, but Musk did not give a timeframe on when it would be released.

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The software, which takes into account sensors, high-precision digital maps, GPS and navigation, allows the car to read speed signs, though Musk cautioned the first version of the software can not take into account stop signs or red lights just yet. Those will come in future versions of the software as it gets more refined over time.

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