SAN FRANCISCO : Elon Musk said on Wednesday that electric vehicle giant Tesla likely will launch full self-drive technology this year and generate significant profits that offset some of the margin pressure it's facing due to aggressive price cuts.
The test version of what Tesla calls Full Self-Driving software will be"two steps forward, one step back between releases," Musk said,"but the trend is very clearly towards full self driving, towards full autonomy." Tesla's financial chief Zachary Kirkhorn said its automotive margin in the first quarter was hurt not only by price cuts, but also increased deferred revenue for FSD software and that"this deferral should get recognized once some of the software catches up."Guidehouse Insights analyst Sam Abuelsamid said Tesla is making some changes to the car's hardware, which disables some FSD features on newer vehicles temporarily.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysis:China’s Xpeng takes cues from Tesla for its new EV platformChinese electric vehicle maker Xpeng Inc is the latest manufacturer hoping to save money and speed development and production by shifting to a digital vehicle architecture - an approach that bears a striking resemblance to Tesla Inc's.Unveiled this week ahead of the Shanghai Auto Show, Xpeng's Smart Elect
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China’s Xpeng takes cues from Tesla for its new EV platformChinese electric vehicle maker Xpeng Inc is the latest manufacturer hoping to save money and speed development and production by shifting to a digital vehicle architecture - an approach that bears a striking resemblance to Tesla Inc's. Unveiled this week ahead of the Shanghai Auto Show, Xpeng's Smart Elect
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tesla cuts US prices for sixth time this year ahead of Q1 resultsTesla has cut prices for some of its Model Y and Model 3 vehicles in the US, the sixth time the company has made such a move this year as it looks to spur demand even at the cost of its industry-leading profit margins. The cuts came ahead of the electric-vehicle maker's first-quarter earnings due on Wednes
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »