It comes as the company’s stocks dropped 8 per cent after reporting the biggest sales drop in its history on Thursday. Tesla lost $1 billlion in the first quarter of 2019. The loss was described as “apocalyptic”.
“I’m confident we will have regulatory approval somewhere literally next year,” chief executive officer Elon Musk said. “Three years from now we will make a car that has no steering wheels or pedals.”Fully self-driving vehicles hold enormous promise. Not only would they be convenient, they could save lives. Unlike humans they will never get drunk or drowsy and they don’t text when they should be paying attention.
The hype over driverless cars has dimmed in the past 12 months as companies realise how complex and dangerous the challenge is. In Phoenix, an Uber self-driving car with a safety driver recently struck and killed a pedestrian. A big question remains over whether driverless cars can become a reality in the near future.
The net loss was more than double what analysts had predicted as Tesla’s sales slumped 31% for the quarter.But he also extolled his forecast that demand and profit margins will increase as Tesla rolls out updated products and pricing for its three models, and sells more battery storage units. Demand for Tesla’s Models S, X and 3 is returning to normal in the second quarter after the company delivered only 63,000 vehicles from January through March, Musk said.
Musk isn’t a good leader, just a clever marketing guy who got caught making numbers up
It is a joke right? The coy struggles to meet current targets which are much less than 1m
Legislation will need to be quick.
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