Elon Musk expands on Tesla’s self-driving software

It seems that the new management approach at Tesla does indeed offer Elon Musk a window of opportunity to talk in public. In light of the recent management changes it was thought that the entrepreneur behind the electric car giant had effectively been sidelined and his ability to talk in public removed. However, a recent podcast with one of Tesla’s larger investors, ARK Invest, cast a very interesting light on the company’s quest for the perfect self-driving vehicle.

Software available by the end of 2019

Tesla CEO Elon Musk confirmed that he fully expects the company to have the latest technology in place to operate vehicles without drivers by the end of 2019. There is a question mark over regulatory approval – in light of some of the high-profile incidents the early Tesla software was involved in. Even though the software has received a mixed reception amongst the public and automobile industry, great progress has been made of late.

The leading light in the world of electric vehicles is suggesting that the software will be installed within Tesla vehicles within the next 24 months. This would give time for regulatory approval, additional software adjustments and perhaps more importantly, a campaign to educate the wider motoring public.

Is there light at the end of the tunnel?

Can you imagine your vehicle picking you up at the car lot, taking you home while you enjoy a nap? If Elon Musk is right, and in relation to electric vehicles he is rarely wrong in the longer term, then this software may just be around the corner. There is no doubt this would place Tesla head and shoulders above many of its leading competitors and take electric vehicles to the next level. This comes at a time when the Tesla share price has been particularly volatile, as the company looks to reorganise costs and reduce its workforce. Ironically, this is exactly what investors were demanding of the company just a couple of years ago. Lesson learned, be careful what you wish for!

Fully funded and profitable

There has always been concern regarding the finances of Tesla and whether further fundraisings would be required. Slowly but surely these concerns are eroding and there is minimal if any talk of short to medium term funding requirements. The balance sheet may take a short-term hit with regards to reorganisation and redundancy expenses but this will surely assist the bottom line going forward. If indeed the company is fully funded and profitable quarter by quarter going forward then there may well be reasons to be cheerful.

Summary

Elon Musk is still something of a Marmite figure, investors either love him or they hate him, often in equal measures. Incidentally, it is worth noting that Elon Musk has not flip-flopped with regard to his confidence in self-driving software and if anything seems more confident today than at any other stage. The next big question, is the general public ready for self-driving vehicles? While initially expected to require a degree of monitoring by passengers there is real confidence we are just a hop skip and a jump away from fully automated fully self-driving vehicles. How would you feel about that?

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