Tesla Inc. is likely to launch its full self-drive technology this year, according to its chief executive officer Elon Musk.

Musk made the announcement on Wednesday during the company’s first-quarter earnings call, where he also reported record profits and deliveries despite the global chip shortage and the pandemic.

He said that Tesla was making “rapid progress” on its full self-drive software and that he was “highly confident” that it would achieve level 5 autonomy – the highest level of self-driving where the car can handle all driving scenarios without any human input – by the end of 2023.

He also said that Tesla would soon release a subscription service for its full self-drive package, which currently costs $10,000 as a one-time purchase. This would make the technology more accessible and affordable for Tesla owners who want to experience the future of driving.

Tesla’s full self-drive technology is one of the most advanced and ambitious in the industry. It uses artificial intelligence and machine learning to process data from cameras, radar, and other sensors on the car. It also relies on a network of computers and software updates to improve its performance over time.

Tesla claims that its full self-drive technology could reduce accidents by 90%, lower fuel consumption by 30%, and extend the lifespan of the car by 50%. It also says that it could enable new possibilities such as robo-taxis, car-sharing, and smart cities. It could also reduce greenhouse gas emissions and help fight climate change.

However, Tesla’s full self-drive technology is not yet approved by regulators in most markets, and it may face legal and ethical issues. It also faces competition from other automakers and tech companies who are also working on their own self-driving solutions.

Tesla is not the only company that is pursuing full self-drive technology. Alphabet Inc.’s Waymo, General Motors Co.’s Cruise, and Uber Technologies Inc. are some of the other players in the field. They use different approaches and technologies to achieve autonomous driving, such as lidar, which is a laser-based sensor that Tesla does not use.

Tesla is known for its innovation and disruption in the electric vehicle market. It has a loyal fan base and a visionary leader in Musk. But it also has a history of missing deadlines and overpromising on its products. Whether it can deliver on its full self-drive technology this year remains to be seen.