Volvo is looking to compete with the likes of Google and Tesla in the self-driving market. The automaker plans to hit the market with an autonomous vehicle in five years.

Volvo CEO Hakan Samuelsson said that the car would be equipped with a steering wheel as well as with a full autopilot system. Volvo recently inked a $300 million deal with Uber to promote autonomous cars.

Speaking at the Global Mobility Leadership Forum, Samuelsson elaborated that Volvo's full autopilot system will be completely autonomous and not supervised. "That will make the premium car, even more, premium," he added.

Volvo has set itself a five-year timeline. It aims to take the autopilot system to a new level by surpassing Tesla's current autopilot system, which requires drivers to keep their hand on the steering wheel. It also requires them to remain alert to take over in the case of an emergency.

Volvo is currently providing automated taxis for Uber's testing program in Pittsburgh. Samuelsson said that the company plans to dominate the self-driving vehicle market. This segment is fast becoming crowded with major technology and auto companies trying to capture a market share. Currently, Google, Tesla, and Uber are at the forefront. At the same time, GM is also looking to develop its self-driving cars.