Tesla co-founder and CEO Elon Musk recently announced that U.S. Tesla drivers may have fully self-driving capabilities by the end of the year. Cheddar News explains.

Closing Bell

Musk Reveals Timeline for Autonomous Vehicles

All right. So let's take a look at some of the headlines that we're watching this afternoon. Tesla's founder and Ceo Elon musk delivering some comments at an energy conference in Norway. That's got some Tesla customers excited. In addition to mentioning that the world needed more oil and gas to bridge the transformation to clean energy must sharing a timeline for full self driving. Tesla, the two technologies I'm focused on trying to ideally get done before the end of the year, are getting our Starship to orbit and then having the test of cars be able to do self driving. Um, so have self driving in wide release, at least in the U. S. And and hopefully potentially in europe depending on regulatory approval. So Tesla's full self driving feature has been released invaded that some customers getting mixed reviews. We covered this story last week must snapping in fact at one twitter user for complaining about the need to intervene, often saying the technology is still in early testing. I think, look, if musk says it's one of the top two priorities by the end of the year, I think that does give it some headway at least in terms of what the focus is for the company. And hopefully for writers. Yeah, absolutely. Kristen I want to also focus on what Elon musk said about needing more of the traditional resources of energy and oil and gas in order to take on cleaner energy alternatives. And this is a really big admission coming from him, especially as the founder of Tesla. Um, and also because I think it's one of those perspectives we don't often get when we're talking about a green future, but it's a realistic one, right? I especially think of situations of like natural disasters and some of the issues we've had in the past. So I kind of wanted to note that for a moment. I do think it's a good point and that's what a lot of the pushback. In fact at times in the E. V industry is right that these electric vehicles are built by all of the elements, the fossil fuels that electric vehicles are trying to get rid of. Um, well the reality is is that you're still not putting gas in your tank. So in that sense it is better write for the overall environment because you're not filling up that tank of gas once a week or whatever it might be. You're able to take advantage of the electric charge, I will say. Um, Elon musk has his hands full. So he noted one of his goals with Tesla with full self driving. The other goal obviously is with SpaceX launching that Star uh, Starlink actually into satellite. That's a major goal for him. But I do think when it comes to Tesla, he does need to focus on this because more and more companies are pivoting into the E. V. Space full steam ahead and the software updates when it comes to self driving autonomous capabilities. They'll be able to easily happen, right, just via a software update. So I think for musk to spend more time on Tesla to keep Tesla as one of his focus is at least for investors is what they want to hear in an environment where he has a bunch of things to focus on and his company has a lot more competition. And we've seen the valuation really directly impacted by the twitter saga with the acquisition. Um, and the pending court trial. So it is one of those areas that we need to focus on. And also again, when I talk about this realistic perspective, I think it's important because we've seen corporations set these really lofty goals, corporations and governments for a good cause. But at the same time, essentially our daily lives have been set upon the infrastructure put forth by a lot of these really traditional sources of energy and moving away from them. I think it makes us realize just how difficult and incremental the process it will be, especially when you hear from someone like an Elon musk. So we'll continue to watch that for updates.