SHANGHAI: U.S. electric vehicle maker Tesla Inc is “very close” to achieving level 5 autonomous driving technology, said Chief Executive Elon Musk on July 9, referring to navigating roads without driver input.

“I’m extremely confident that level 5 or essentially complete autonomy will happen and I think will happen very quickly,” Musk said in remarks made during a video message at the opening of Shanghai’s annual World Artificial Intelligence Conference (WAIC).

“I remain confident that we will have the basic functionality for level 5 autonomy complete this year.”

Automakers and tech companies including Alphabet Inc. Waymo and Uber Technologies, 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.

The California-based automaker currently builds cars with an Autopilot driver-assistance system. Tesla is also developing new heat-projection or cooling systems to enable more advanced computers in cars, Musk said.

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 capitalisation overtook that of former front-runner Toyota Motors Corp. 

Japan has already started to embrace this kind of technology through autonomous shuttle buses and self-driving taxis that can be ordered using a smartphone app. The service called ‘Robocar Walk’ was developed by ZMP, a company that develops autonomous robotic technology.

— Reuters