Promise Hour: Tesla Broadcasts Self-driving Tech to Perk Up Investors
Tesla celebrated “Autonomy Day” on Monday, broadcasting a web presentation to investors touting its self-driving strategy — part of CEO Elon Musk’s attempt to prove that the manufacturer’s longstanding commitment to the technology will bear fruit. While the mood was undercut by news of one of its vehicles spontaneously combusting in a Shanghai parking garage, the company stayed the course, focusing on autonomy instead of electrification.
Still, it wasn’t the fire that had investors seeking comfort. Tesla’s promise of fully self-driving vehicles is years old, with Musk initially pegging 2018 as the target date. That didn’t happen, with 2018 turning out to be the year the company faced elevated scrutiny over the effectiveness of its Autopilot system after a series of high-profile crashes.