Elon Musk Says Tesla Likely to Launch Full Self-Drive Technology in Its Cars This Year

"I hesitate to say this but I think we'll do it this year," said Tesla CEO Musk, speaking on a conference call.

By Reuters | Updated: 20 April 2023 11:14 IST

Elon Musk Says Tesla Likely to Launch Full Self-Drive Technology in Its Cars This Year

Photo Credit: Reuters

The technology as it stands now has drawn legal and regulatory scrutiny

Highlights

Tesla's Full Self-Driving (FSD) software has a test version
Tesla sells FSD software as an option for as much as $15,000
Last year, Tesla removed ultrasonic sensors from Model 3, Model Y cars

Elon Musk said on Wednesday that electric vehicle (EV) giant Tesla likely will launch full self-drive technology this year and generate significant profits that offset some of the margin pressure it's facing due to aggressive price cuts.

"I hesitate to say this but I think we'll do it this year," said Tesla CEO Musk, speaking on a conference call. Musk has missed his previous targets to achieve self-driving capability dating back years.

The test version of what Tesla calls Full Self-Driving (FSD) software will be "two steps forward, one step back between releases," Musk said, "but the trend is very clearly towards full self driving, towards full autonomy."

[Sponsored] Samsung Galaxy S24: The Ultimate Camera Phone With Smarter On-Device AI

The technology as it stands now has drawn legal and regulatory scrutiny following crashes. Tesla has said the technology does not make the car autonomous, and requires driver supervision.

Tesla's financial chief Zachary Kirkhorn said its automotive margin in the first quarter was hurt not only by price cuts, but also increased deferred revenue for FSD software and that "this deferral should get recognized once some of the software catches up."

Kirkhorn did not elaborate.

Guidehouse Insights analyst Sam Abuelsamid said Tesla is making some changes to the car's hardware, which disables some FSD features on newer vehicles temporarily.

Elon Musk's Next Project: 'TruthGPT' AI That Shuns Political Correctness

Tesla sells FSD software as an option for as much as $15,000 (roughly Rs. 12,33,000).

Late last year, Tesla removed ultrasonic sensors from Model 3 and Model Y cars, and said some features such as "smart summon" and "autopark" would be temporarily unavailable.

"We do have this unique strategic advantage," Musk said. "We are making a car that, if autonomy pans out, that asset will be worth a hell of a lot more in the future than it is now."

'Monetising Hate': Misinformation Surges on Elon Musk's Twitter

Tesla reported a lower-than-expected quarterly margin on Wednesday but Musk said he would prioritize sales growth over profits in a weak economy.

Smartphone companies have launched many compelling devices over the first quarter of 2023. What are some of the best phones launched in 2023 you can buy today? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.