Tesla CEO Elon Musk announced on Thursday that fully autonomous vehicles will be achieved “later this year,” marking a significant milestone for the electric car company.

Elon Musk, speaking via video link at an AI conference in Shanghai, said, “In terms of where Tesla is at this stage, I think we are very close to achieving full self-driving without human supervision.”

“This is only speculation, but I think we’ll achieve full self-driving, maybe what you would call four or five, I think later this year,” the billionaire went on to say, referring to two of the most advanced levels of technology for self-driving vehicles.

The entrepreneur, known for his unpredictable nature and as the owner of Twitter, acknowledged his past inaccuracies in predicting timelines. However, he expressed optimism by stating, “I feel like we’re closer to it than we ever have been.”

Elon Musk, the CEO of Tesla, has faced challenges in meeting his own deadlines for fully autonomous vehicles, while also dealing with regulatory investigations related to Tesla’s driver-assistance technology in the US.

To maintain a strong presence in the world’s largest electric vehicle market, China, Tesla announced plans in April to construct a second major factory in Shanghai.

Musk’s recent appearance at the World Artificial Intelligence Conference in Shanghai reflects his efforts to foster close ties with China, building on his previous visit in May.

Despite competition from other automakers, Tesla continues to navigate the market with price reductions after reporting a decline in first-quarter earnings.

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