09.07.2020 Tesla Daily Analysis

09.07.2020 Tesla Daily Analysis

U.S. electric vehicle maker Tesla Inc (O:TSLA) is "very close" to achieving level 5 autonomous driving technology, Chief Executive Elon Musk said on Thursday, referring to the capability to navigate roads without any driver input. "I'm extremely confident that level 5 or essentially complete autonomy will happen and I think will happen very quickly," Musk said "I remain confident that we will have the basic functionality for level 5 autonomy complete this year." Automakers and tech companies including Alphabet Inc (O:GOOGL) Waymo and Uber Technologies (N:UBER) are investing billions in the autonomous driving industry. However, industry insiders have said it would take time for the technology to get ready and public to trust autonomous vehicles fully. Industry data showed Tesla sold nearly 15,000 China-made Model 3 sedans last month. Tesla has become the highest-valued automaker as its shares surged to record highs and its market capitalization overtook that of former front-runner Toyota Motors Corp.