All new Tesla cars to be completely self-driving

Oct 20, 2016, 2:25 AM EDT
Elon Musk Closing the 2016 Tesla Annual Shareholders' Meeting
(Source: Steve Jurvetson/flickr)

Elon Musk, founder of electric carmaker Tesla, said on Wednesday that all new models from the company will feature hardware enabling them to be completely self-driving. Musk informed that the software for fully autonomous cars is still being tested, adding that the first self-driving Tesla is likely to travel from Los Angeles to New York by the end of 2017. The new hardware comprising eight cameras, 12 updated sensors, and radar with faster processing, will cost $8000.

The announcement is no real technological leap by Tesla, which unveiled its Autopilot system last year, allowing some self-drive functions such as auto-braking, writes the BBC. The move appears to be aimed at reassuring the investors, as Tesla failed to achieve its sales and revenue targets over the past year.

In its last financial report, Tesla posted its thirteenth consecutive quarterly loss besides missing production targets and sales goals. The company’s shares, which closed at $203.56 on Wednesday, have slumped by 23 percent from an April high, reports Reuters.

Tesla, which has in the past missed its ambitious deadlines, faces technological challenges from rival automakers. For example, Tesla’s decision not to use Lidar laser-based sensors, a tool most other car makers believe is necessary for full autonomy, may have its own consequences in future. 

TAGS: Tesla