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Wednesday, May 18, 2022

Tesla Inc. [NASDAQ: TSLA] ‘Very Close’ To Level 5 Autonomous Driving Technology, Musk Reveals

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Tesla Inc. [NASDAQ: TSLA] CEO Elon Musk has attended the world Artificial Intelligence conference in Shanghai. When he was asked about the level 5 autonomy and when will it Tesla reach full level five autonomy. Musk responded that Tesla is ‘very close’ to level 5 autonomous driving technology.

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He said in a pre-recorded video played during the world AI conference in Shanghai: “I think I remain confident that we will have the basic functionality for level 5 autonomy complete this year.”

He revealed: “There are no fundamental challenges remaining for level five autonomy. There are many small problems and there are challenge of solving all those problems and then putting the system together,” he added. Musk has argued that the autonomous driving will be transformative for Tesla.

Shares of Tesla Inc. traded down 1.73% and showed the change of -23.98 during the trading of Thursday. Automaker’s closing price is $1365.88. It has moved up 547.34% from its 52-weeks low and moved down -4.45% from its 52-weeks high. Its return on investment is -0.90%, return on assets is -0.40% and return on equtiy is -2.10%.

In the past 52-weeks of trading it has fluctuated from a low of $211.00 and a peak of $1429.50. This company’s gross margins is 18.20%, profit margin is -0.60% and an operating margin is 2.80%.

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