Musk says Tesla likely to launch full self-drive technology 'this year'

FILE PHOTO: A Tesla supercharging station is seen in the early morning sun, in Kettleman City, California, U.S., January 25, 2023. REUTERS/Mike Blake

SAN FRANCISCO (Reuters) - Elon Musk said on Wednesday that electric vehicle (EV) giant Tesla likely will launch full self-drive technology this year and generate significant profits that offset some of the margin pressure it's facing due to aggressive price cuts.

"I hesitate to say this but I think we'll do it this year," said Tesla CEO Musk, speaking on a conference call. Musk has missed his previous targets to achieve self-driving capability dating back years.