Elon Musk Promises Self-Driving Car's System To Be Released in a Month

By Mary Anne R. Sep 25 2020, 05:18 AM EDT

The fully self-driving car is about to become a reality in just a month or so, according to Tesla CEO Elon Musk.

Musk said Tuesday the company will release its Autopilot system in a month or so.

The Tesla CEO did not further comment on its capabilities, but he said that you will see what it is like once it is out. He added that it is clearly going to work.

Many startups and established automakers have been trying to develop this driving technology. Many developments have been fielded in tests.

However, a system that completely drives the car in all circumstance without driver input is yet to become a feature in cars.

Musk earlier said that the company's latest electric cars have all the hardware they need for self-driving. He noted that all they were missing was the software. With this, Musk said his team has to completely rewrite the Autopilot software.

Reports said that Musk has been testing the cutting-edge versions himself. Musk noted that safety could be the greatest benefit in a self-driving car.

He said he was confident that an advanced Autopilot would allow Teslas to become 10 times less likely to be involved in a serious crash than the industry average. Musk said that's a lot of lives saved and a lot of injuries avoided.

He further noted that the battery and manufacturing advances Tesla is working on will soon lead to lower prices that will be vital for getting more electric vehicles on the road.

"About 3 years from now, we're confident we can make a very compelling $25,000 electric vehicle that's also fully autonomous," Musk claimed.

Musk also commented on lowering pricing, in which he said that Tesla's profitability is not "crazy high."

"Our average profitability for the last four quarters was maybe 1%. It's not like we're minting money. Our valuation makes it seem like we are, but we're not," Musk noted.

He added that they want to make the price as competitive as possible without losing money.

Meanwhile, Tesla company shares plummeted as much as seven percent during the company's "battery day" presentation, which took place after normal trading hours.

The company plans to sell electric semitrucks and a radical, angular electric pickup, aside from the four sedans and SUVs.

Musk said around 500,000 people have pre-ordered Cybertruck, which is Tesla's name for the pickup.

He noted that the future of today's gasoline-powered cars is doomed in the long run. He predicted that all vehicles will run more efficiently on electricity, except on rockets.

In terms of its battery development, Tesla is also seeking to reduce or completely avoid some expensive materials used in lithium-ion battery production. It also includes cobalt.

Associate professor Costa Samaras said if Tesla can make a cheap, reliable battery with little or no cobalt, it will improve EVs' ability to scale up.

Samaras is an associate professor in Civil and Environmental Engineering at Carnegie Mellon University.