A basic option uses a pre-set limit for warning and/or preventing going at a specific speed.
To deactivate and change the setting requires a password. Activation would not require a password. Settings and operations can only be changed while stopped.
This might be used as a parental limit for the kids or as a valet mode where the maximum speed is limited.
A more advanced model would read the GPS location and identify the speed limit and provide a warning when the speed exceeds the map’s known speed limit by a set amount. For locations outside known roads (i.e. parking lots), it might limit speeds to 20 MPH.
Unknown if other vehicles have such an option. Using GPS positioning is not 100% reliable, especially when frontage roads run along a freeway or other close roadways.
Tesla offers two features – a speed limiter, and a notification when the speed exceeds the posted speed limit. First introduced in the October 2014 time period.