Tesla touts power of self-driving microchip in cars, working on software
Musk invited investors and analysts to its Silicon Valley headquarters to persuade them its massive
SHANGAI (Reuters) - Chief Executive Elon Musk unveiled on Monday (April 22) a microchip for self-driving vehicles that the electric car company hopes will give Tesla Inc an edge over rivals.
Musk invited investors and analysts to its Silicon Valley headquarters to persuade them its massive investment in autonomous driving technology will pay off.
The presentation comes two days before Tesla is expected to announce a quarterly loss on fewer deliveries of its Model 3 sedan, which represents Tesla s attempt to become a volume car maker.
Global carmakers, large technology companies and an array of startups are developing self-driving - including Alphabet Inc s Waymo and Uber Technologies Inc - but experts say it will be years before the systems are ready for deployment.
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All cars being produced now have the chip and the company was about halfway through the design process for the next generation chip, which Musk estimated would be about three times better than the current system.
Tesla has been working on a self-driving chip since 2016 and Musk had previously forecast that cars would be fully self-driving by 2018, a target Tesla has missed.
