Elon Musk says vehicle autonomy is key driver of Tesla’s value

When it comes to self-driving technology or self-driving technology, Tesla is one of the frontrunners, they have been working on this for quite a long time and have made considerable progress. Tesla CEO Elon Musk sees self-driving cars as a major driver of the automaker’s market value. His comments came as Tesla shares rose 3% to their highest level in more than eight months after a flat 2022.

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| Updated on: June 17, 2023 at 13:05 pm

Tesla has been one of the frontrunners when it comes to introducing self-driving technology. (Reuters)

Currently, Tesla, the world’s most valuable automaker, has a market capitalization of about $800 billion. However, the electric car maker has fallen short of Elon Musk’s long-promised goal of fully self-driving capabilities for years. While the company is currently working on fully self-driving technology (FSD), it has yet to prove it is flawless. However, all Tesla EVs are equipped with Autopilot, a semi-autonomous driving technology that acts as a driver assistance system and performs certain tasks without driver intervention.

Also read: Tesla CEO Elon Musk has this advice for Toyota.details here

Speaking of vehicle autonomy and Tesla’s much-talked-about and much-hyped Full Self-Driving (FSD), Musk said the company will soon address the issue of autonomy. “While I’ve said it before, I think we’re going to solve the problem of self-driving very quickly,” Tesla’s CEO said, adding further that “the value of the company is primarily based on self-driving.” Still, He also referred to what Tesla says is the FSD software, which doesn’t make its vehicles self-driving and requires driver supervision.

Self-driving cars are an area that several other automakers are actively working on. While Tesla has made great strides in this area, other automakers such as Mercedes-Benz, BMW, Audi, and Volvo have also developed different semi-autonomous driver assistance software and implemented them in their cars. However, none of this software promises full autonomy without driver intervention.

First published date: June 17, 2023 at 13:05pm CST


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