Tesla Motors Inc (NASDAQ:TSLA) Self-driving Cars In 5-6 Years

Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk has informed that within the time span of five to six years they would be able to come up with vehicles that will run on ‘full auto pilot.’ The company is working on developing a technology that will make this possible.

Tesla does not want to be left behind

There are huge numbers of accidents taking place every year due to human errors and it leads to high mortality rate. Therefore, it is the need of the hour that some efforts be made to check this, and companies like Google and Volvo are already working on these. Therefore, the electric carmaker too stepped into making such cars so that it is not left behind.

“The overall system and software will be programmed by Tesla, but we will certainly use sensors and sub components from many companies,” Musk told reporters in Tokyo Monday. He added that a time will come when all the cars from Tesla Motors Inc (NASDAQ:TSLA) will have the auto-pilot capability.

The car market does not have any self-driving cars as yet. Autonomous and semi-autonomous features are also being built into the cars by many of the automakers. These features will be a big advance for the auto sector along with benefiting the drivers the long-run. One such feature is self-parking, which will help reduce the effort in finding a parking place and also reduce the time for parking.

Driverless cars – massive market

Research firm IHS released a report in January, where it speculated that by 2025 self-driven cars would be seen on the highways, and by 2035 there will be as many as 35 million cars seen globally. Musk says that self-driven cars will be there in the market long before the expected time.

Musk was in Tokyo to release the Tesla internet connected Model S sedan. This luxury electric car powered with Panasonic batteries costs 8.23 million Yen ($77,000). In Tesla Motors $5.0 billion ‘gigafactory’ the operations will be run by Tesla while the plant will get its supply of battery cells from Panasonic, which will also make investments in equipment and machinery. Also, Tesla Motors Inc (NASDAQ:TSLA)’s plans to enter into a deal with Toyota for the supply of batteries as informed by Musk on Monday.