Tesla vehicles ‘not actually self-driving’ as company ‘10 years’ from achieving it

Tesla’s self-driving technology isn’t actually as revolutionary as Elon Musk and his company make out, according to an expert.
Mark Hawtin, GAM Investment Management’s investment director, believes it could be 10 years before Tesla actually perfects the self-driving feature for its vehicles.
Speaking to CNBC’s Squawk Box Europe, he said: “We should say what they’re doing — everyone’s talking about this full self-driving capability.
“What they’re going to be able to do in China is what they already do in the US or UK, which is sort of this assisted-driver capability.”
He said “It’s by no means autonomous driving yet.” and “true autonomy” is still five to 10 years away.
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His comments come after Musk traveled to China and secured a deal with search giant Baidu, potentially pathing the way for self-driving technology to be used in China.
Tesla has been forced to drop its prices as competition from the Chinese automotive market hurts its bottom line.
BYD, a Chinese EV manufacturer, passed Tesla as the world’s biggest EV producer in the fourth quarter of 2023.
But Musk will be hoping this new deal will give him a boost in the country.
Dan Ives, a tech analyst at Wedbush, an investment bank, wrote in a note to clients: “This is a watershed moment for Musk as well as Beijing at a time that Tesla has faced massive domestic EV competition in China along with softer demand.
“While the long-term valuation story at Tesla hinges on FSD and autonomous, a key missing piece in that puzzle is Tesla making FSD available in China which now appears on the doorstep.”
Following the announcement of the deal, Tesla’s stocks surged.
While in the country, Musk also met with Chinese Premier Li Qiang.
Chinese state media quoted Musk as saying Tesla wanted cooperation with the country to “achieve more win-win results.”
Tesla recorded $21.3billion in sales in the first quarter of 2024, down from the $23.3billion recorded in the first three months of 2023.