Tesla CEO, Elon Musk said that U.S. electric vehicle maker is “very close” to achieving level 5 autonomous driving technology. With level 5 technology, vehicles will be able to navigate the roads without driver input.
While sharing his remarks through a video message at the opening of Shanghai’s annual World Artificial Intelligence Conference (WAIC), Musk was optimistic about being able to attain the basic functionality of the technology this year.
The automaker headquartered in California is currently producing cars with an autopilot driver support system that reduces the workload of a driver by providing safety assistance and convenience.
Tesla is also developing new heat projection or cooling systems to allow more advanced computers in automobiles, Musk said, hailing the company’s team in China for doing an “impressive job”.
According to the China Passenger Car Association (CPCA), Tesla sold 14,954 Shanghai-made Model 3 vehicles in China in June 2020, which is up 35% month-on-month. While in May, it sold 11,095 cars, up from approximately 3,635 in April, CPCA data shows.
Meanwhile, regional data highlights that sales of electric vehicles are on the rise in the UK which is led by Tesla who still retains good market sales amid the pandemic.
Automotive sales around the world were seriously impacted by the pandemic. Electric car purchases, however, have kept up well despite the auto industry’s loss.
Earlier this month rivals Ford and Volkswagen had announced their decision to collaborate and develop electric and self-driving vehicles in Europe and the US. Google, Uber, Microsoft, Apple, NVIDIA, IBM are some other players in this market.
The blistering stock rally by Tesla stocks recently brought Elon Musk within sight of a payday worth potentially $1.8 billion, his second jackpot from the electric car manufacturer in just two months.
Over the past few days, fueled by higher than anticipated vehicle sales, Tesla’s shares have risen by over 40%, increasing the company’s market capitalization to $259 billion.