Musk: Tesla will have fully-autonomous technology this year

Andrew Cummings
July 10, 2020

- More AI and essentially smarter software will be used at the Tesla Shanghai gigafactory, Tesla CEO Elon Musk said in his keynote speech at the opening ceremony of the World Artificial Intelligence Conference (WAIC) on Thursday.

United States electric vehicle maker Tesla Inc is "very close" to achieving level 5 autonomous driving technology, Chief Executive Elon Musk said on Thursday, referring to the capability to navigate roads without any driver input.

"I continue being confident that we will have the simple operation for degree 5 autonomy finish this yr".

Level five autonomy refers to completely autonomous driving where the passenger does not have to assume control at any point, and where the vehicle can handle any road conditions and weather types.

Tesla is racing with Waymo, Uber and traditional automakers to bring autonomous vehicles to market. The Tesla insiders claim it will still take some time to deploy the technology and for the publicity to show enough trust in it.

The California-based Tesla now builds cars with an Autopilot driver-assistance system, which still requirers some human input.

Tesla is also building new heat-projection or cooling units to enable extra sophisticated desktops in automobiles, Musk reported.

The latest deadly crash happened in March of 2019 in Delray, Florida, when Jeremy Banner's 2018 Tesla Model 3 slammed into a semi-truck, killing the 50-year-old driver.

At Tesla's current stock price of $1,397 (roughly Rs. 1,04,740), Musk would theoretically be able to sell the shares related to the tranche that vested in May and the upcoming tranche for a combined profit of over $3.5 billion (roughly Rs. 26,242 crores), or $1.8 billion (roughly Rs. 13,492 crores) per tranche. However, Tesla shares might be a tad too expensive for most retail investors and I think there are better value plays out there.

Tesla became the world's second-most valuable automaker in January, when it surpassed Volkswagen AG. The robot component of manufacturing companies is much higher.

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