Elon Musk: My view about Tesla competitors in the self-driving car market

Credit: Finance Jane

The automotive industry is witnessing a rapid evolution of safety features, which is expected to increase exponentially in the coming years to provide a safer and more convenient driving experience.

The global self-driving cars market size is projected to grow from 20.3 million units in 2021 to 62.4 million units by 2030.

Major car companies such as Toyota and Honda are launching vehicles with features such as blind-spot detection, rear cross-traffic, lane keep assist, forward collision warning, and automatic emergency braking as a standard.

Other companies such as Cadillac, Tesla, Nissan, Honda and Audi are currently developing L3 driving systems for their upcoming models.

The increasing demand for sophisticated cruise control and driving comfort features has also fueled the safety systems market.

Google used to use Firefly to develop its self-driving car technology, but then researchers discovered that the steering wheel in a self-driving car could actually make drivers less attentive, and that could be dangerous.

After a few years, Google stopped the technology.

In November 2021, Bloomberg reported that Apple plans to release a self-driving EV as soon as 2025, Apple is internally targeting a launch of its self-driving car in four years.

In the video, Elon Musk talks about the self-driving car market and who can be Tesla’s competitors.

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Source: Finance Jane.