Chief Govt Officer of SpaceX and Tesla and proprietor of Twitter, Elon Musk attends the Viva Know-how convention devoted to innovation and startups on the Porte de Versailles exhibition centre on June 16, 2023 in Paris, France.
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Tesla CEO Elon Musk thinks the automaker’s market capitalization is straight tied as to if or not the automaker is ready to clear up autonomous driving, the billionaire advised LVMH scion Antoine Arnault Friday.
Musk was talking at Paris’ VivaTech innovation convention. The youthful Arnault ribbed Musk about Tesla’s $827 billion market cap, noting it dwarfed the storied luxurious conglomerate’s valuation.
The Tesla CEO responded and steered he had little perception into inventory value actions. “Valuations are an odd factor,” Musk mentioned. “Generally I’ve mentioned, ‘Hey, I believe the inventory value is simply too excessive at Tesla,’ after which the inventory value goes up. I am like, ‘okay.'”
However Musk additionally steered Tesla’s market cap was tied as to if or not the corporate might excellent autonomous driving know-how.
“Actually the worth of the corporate is totally on the premise of autonomy,” Musk mentioned. “When you have a look at our whole automobile output, it is nearly 2 million automobiles this yr or one thing like that. However that is nonetheless solely 2% of whole automobile manufacturing.”
“The potential for autonomy is that the worth of autonomy is so excessive, that even even if in case you have a reduction, a share likelihood of autonomy occurring, that’s so extremely useful,” the CEO continued. He additionally reiterated the concept of Tesla homeowners turning their automobiles right into a fleet of self-driving robotaxis, an thought which he as soon as mentioned can be applied by 2020.
Musk has mentioned for a number of years that Tesla is near fixing autonomous driving, however the firm’s vehicles nonetheless solely present superior driver help options.