Tesla has ample competition in store that can halt their growth in the autonomous car domain.
Mr. Elon Musk, the chief executive officer of Tesla Motors Inc. has been a staunch advocate of autonomous car technology. This technology is said to be a massive breakthrough in the automotive sector where the electric car maker is extremely positive to cash the scenario. Previously in March, Mr. Elon Musk during a NVIDIA Corporation event mentioned to the chief executive officer of the firm Mr. Jen Hsun Huang that the conventional driving methodologies will be outlawed in the coming twenty years since autonomous cars will take over.
According to Mr. Musk, Tesla Motors will play a significant role in boosting the autonomous car sector. In order to do so, the company recently announced an autopilot feature that will be possible through Over the Air software for the complete Model S series.
Despite the fact that Tesla Motors is a pioneer in the field of autonomous car technology and the technology they wish to come up is said to be one of a kind but even then some Wall Street analysts believe that the company is likely to face competition when considering the future cars. Moreover, Mr. Elon Musk was also hurt by the recent report compiled by Goldman Sachs according to which the fiscal year of 2017 will be a “watershed year” for the autonomous car technology where Tesla Motors will certainly not be a key player in that.
Tesla Motors that is said to be a pioneer in the automotive industry for its autonomous technology is expected to lag behind the tech behemoths that already have a stronger position before the launch. Google Inc. is said to be relatively ahead of Tesla in terms of its autonomous car dreams.
Apparently Tesla has not been doing fairly well and has been reporting losses since a relatively long span of time. However, the company is taking several initiatives to get back on track and start making money. The goals of Mr. Musk are extremely ambitious and have established the company’s position as a key player in terms of providing clean technology in the times to come through its Gigafactory that will cost them around $5 billion. Irrespective of the fact that the company is all set to build the largest lithium ion battery across the globe in Reno Naveda, analysts at Goldman Sachs still believe that the company will still remain far behind their competitors.
Hence, in a nutshell, autonomous cars were said to be a game changer for the company but now this also seems a bit hard for them to achieve their dream.
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