Why the company will continue to innovate, according to its CEO
JDM Automotive is going all in on autonomous vehicles.
The automaker said Wednesday that it will keep producing the popular Tesla Roadster sedan and the Tesla X SUV, and it is investing $1 billion in research and development for a new version of its self-driving car called Autopilot 2.0.JDM Automobiles is also planning to continue producing the Jeep Grand Cherokee and Dodge Ram trucks.
The automaker also plans to invest $1.2 billion in new research and technology for the X SUV and the Roadster, the company said in a statement.
The announcement comes after Tesla unveiled the Model 3, a sedan with the highest level of autonomous capability of any vehicle in its class.
Tesla says it has tested the Model III vehicle in Michigan and California, and is confident that it can produce the vehicle in large volumes there.