Tesla's recent over-the-air update adds a speed-limiting feature that is available via the mobile app.

GM offers Teen Driver and Ford's system is coined MyKey. These safety features have become standard on more cars over the past few model years and are available on a wide variety of mainstream and luxury vehicles.

The technology allows you to limit a vehicle's speed for individual drivers. This means that if you have children in the home or lend the car to someone, you can assure that they won't be able to "overdo" it.

According to Electrek, this new feature is part of software version 2018.24 and Tesla mobile app update 3.4.1. While the feature can be controlled via your smartphone and the Tesla app, you still have to be with the car to enable it while in Park.

Perhaps Telsa could provide another update, which would allow this to be done from afar and when the car is moving. This would make it even more functional, but could also lead to unnecessary issues. We'll see if the update adapts in the future. Tesla explains the new feature (via Electrek):

Limit vehicle speed and acceleration with speed limit mode. Maximum vehicle speed can be set between 50-90 mph (80-145 km/h).

A previous Tesla OTA update added a similar feature called Valet Mode. It automatically governs the top speed to 70 mph, while also limiting the Tesla's acceleration to 25 percent of the maximum.

Source: Electrek