Investing.com - Tesla Inc (NASDAQ:TSLA), the renowned electric vehicle manufacturer, is on the cusp of delivering fully autonomous cars within this year's timeframe, according to CEO Elon Musk's recent statement. The billionaire tech mogul shared his prediction during an artificial intelligence conference held virtually in Shanghai.
Speaking about Tesla's current position in terms of autonomy development, Musk expressed optimism that they are nearing the goal of full self-driving technology without needing human intervention. He stated via video conference at the event opening ceremony.
While acknowledging it as conjecture at this point, Musk believes that Tesla could attain what he referred to as level four or five - two top-tier levels signifying advanced stages of autonomous driving technology before this year ends.
The Twitter owner and unpredictable entrepreneur confessed past inaccuracies with similar timelines but emphasized that now they seem closer than ever before to achieving their objective.
Despite setting ambitious deadlines previously for a completely independent vehicle development which were not met and having its driver-assistance technology under scrutiny by US regulators, Musk remains confident.
China stands as the largest market globally for electric vehicles and has been instrumental in Tesla's growth strategy. In April earlier this year, Tesla announced plans for establishing another substantial factory base in Shanghai.
Musk’s participation at the World Artificial Intelligence Conference represents his continued efforts towards strengthening relations with China after his visit to the country back in May.
Electric vehicles account for one-fourth car sales volume within China – home to world’s biggest automobile market where numerous new models from both local and Western manufacturers were launched post-Covid restrictions being lifted off recently during their first auto show held during April month end.
The financial quarter beginning this year saw a decline in earnings reported by Tesla owing primarily due competition-induced price reductions amidst other automakers stepping up their game.