I would suggest it work like the teleport currently works. You point your thingy the appropriate distance away, just like you do now - so it’s within the teleport grid. It just keeps jumping you that same distance in the direction you point as long as you hold the button down (stopping if you hit an obstacle). Steering would work the same too - where if you change the direction you point, it takes you that way.
The only change I would suggest would be to try and make the grid a standard size (currently it changes a lot as you travel).
Keeping it as is would be easiest from a development standpoint, as they “should” be able to just put in a clause saying something to the effect of, “if button stays pressed, repeat teleport action every x(time)”. Speed (x) could be settable, theoretically. Of course it’s never that simple, but the concept is there.
Right now if you hold the button down, the grid expands, but I find this a bit pointless as waiting for the grid to expand makes it take longer to go further than it would just to click twice.
And yes, it would save both the controller and possibly battery power also. I notice my teleport hand controller battery dies faster, less so when I try to alternate hands for moving (although part of that side dying faster is obviously that it’s my weapon hand too)