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Tesla Share Price Surged After Bold New Timeline For Driverless Cars

28 Dec

Tesla Motors driverless, Tesla automobile

Elon Musk believes that the automaker would be able to develop driverless vehicles within two years.

Tesla Motors has threatened its rivals in the modern automotive industry. CEO Elon Musk has predicted that the company would make a driverless vehicle within two years. “I think we have all the pieces,” Elon spoke to Fortune, “and it’s just about refining those pieces, putting them in place, and making sure they work across a huge number of environments — and then we’re done. It’s a much easier problem than people think it is.”

Mr. Musk’s statement was followed by a rise in shares of Tesla on Tuesday. The ambitious timeline looked to offer support to the shares again today, with Stock trading up 0.64% or $1.47, at $231.42 around 7:18 am PST.

Elon’s driver-less vehicle components might have been overshadowed earlier by SpaceX’s achievement on Monday night, as it was able to land a rocket during a commercial mission for the first time. Elon is also SpaceX’s CEO.

This is the most aggressive timeframe that the CEO has mentioned. While he has claimed that the problem is easier to solve than public belief, he does not think access to technology could not help every hacker make a driverless vehicle.

Musk has taken the opportunity to refer to hacker George Hotz, who claimed this month through a Bloomberg article that he had manufactured a driverless vehicle technology capable of competing with Tesla’s. Musk said he was not buying it. The company went as far in December 2015 as it posted a statement regarding the achievement of George.

“We think it is extremely unlikely that a single person or even a small company that lacks extensive engineering validation capability will be able to produce an autonomous driving system that can be deployed to production vehicles,” the organization stated.

While the electric carmaker is not concerned about George, the new tech era might provoke the competitors to speed up their driverless vehicle manufacturing processes. Technology giants, such as Apple, Google, General Motors, and Volvo are all battling to become the first one to provide some kind of driverless technology.

Many hold the belief that the initial 2020s will be a realistic timeline for the engagement of public driverless vehicles. Yahoo Autos reported yesterday that Ford and Google would participate in a joint project to manufacture driverless automobiles with the technology of the latter.

The formal announcement would be made during the Consumer Electronics Show next month, but there is no production period. Tesla recently launched Firmware 7.1 Autopilot system including restrictions on driverless features.

The system only lets auto-steer tool to function when the Tesla Model S is travelling at a speed lesser than the one which has been posted. The motivation to produce such technology is pushing the organizations ahead in the market.

 

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Posted by on December 28, 2015 in Technology, Tesla Motors

 

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