Tesla CEO Elon Musk expressed confidence in the company’s progress towards achieving autonomy during his recent appearance at the VivaTech conference in Paris. Emphasizing the significance of Tesla’s efforts, Musk highlighted their impact on the company’s valuation.
“While I have mentioned this previously, I genuinely believe that we are on the verge of solving autonomy,” stated Musk, as reported by Reuters. Over the past decade, Musk has consistently emphasized Tesla’s expertise in the electric vehicle (EV) sector and has frequently suggested that Tesla is close to introducing a fully self-driving car before any of its competitors.
Currently, Tesla offers the Autopilot and Full Self-Driving (FSD) suites; however, these systems do not provide complete autonomy. Sleeping while the vehicle is in motion is not yet feasible. Tesla acknowledges that its FSD Beta is classified as an SAE Level 2 driver support feature, falling short of the Level 5 designation necessary for full autonomy.
During the VivaTech event, Musk also revealed that autonomy is the primary driver of Tesla’s valuation. He remarked, “The value of the company is primarily on the basis of autonomy. That’s really, I think, the main driver of our value.”
Tesla’s stock has recently experienced significant surges, with its value increasing by over $200 billion. This surge can be attributed to partnerships announced with Ford and GM, where both companies plan to adopt Tesla’s NACS charging connector and gain access to its Supercharger Network.
However, proponents of Tesla’s growth potential have underscored the importance of autonomy for the company’s future prospects. ARK Invest, for instance, has indicated that the successful implementation of an operational robotaxi fleet would lead to a substantial increase in Tesla’s stock price.
Musk’s visit to Europe has involved meetings with officials from France and Italy, as Tesla is expected to announce the location of its next Gigafactory by the end of the year. Reports of negotiations with Spain have surfaced, suggesting that Europe may be the chosen destination for the new facility.
