- Elon Musk claims that Tesla’s market capitalization is directly related to autonomous driving.
- The tycoon discussed this topic at a conference in Paris, where he mentioned that Tesla’s value is in its autonomous driving technology and not just in electric cars.
- Although Tesla has not yet achieved full autonomy, Musk is still working on it and is still considering creating a fleet of autonomous robotaxis.
The CEO of Tesla (and several other successful companies), Elon Musk, believes that the market capitalization of his electric car brand is directly related to its ability to solve the problem of autonomous driving.
Musk said it at the innovation conference VivaTech from Parisspeaking with Antoine Arnault, son of the creator of the LVMH empire, this Friday, June 16.
In the shared panel, Arnault mocked Musk about Tesla’s $800 billion market capitalization, saying it dwarfed the value of the luxury empire his father built.
Musk responded that he’s not a fan of the stock price and that he thought about delisting Tesla and taking it private (something he couldn’t do when he tried).
Later, Musk also said that Tesla’s market capitalization is directly tied to how the company can perfect self-driving technology.
“Actually, Tesla’s value is not based on EV cars, but especially on driving range,” said the tycoon.
“If you look closely, our total car production, of two million units expected this year, is still just 2 percent of global vehicle production,” he added.
“It is the potential that Tesla has to achieve effective driving autonomy that gives it such a high value, it is the percentage of that autonomy occurring in Tesla, that is what is valuable to our company,” added.
Musk, Tesla and autonomous driving
He also said that he is still thinking about the idea of creating a fleet of autonomous robotaxis.
Musk has been saying for years that his brand is very close to being able to effectively solve autonomous driving.
For now, their cars only offer advanced driver assistance features, but not full range.
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