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Autonomous Vehicle Technology Powers Tesla's Market Value, Says Elon Musk

Tesla CEO Elon Musk states that the company's high market value primarily hinges on its innovative vehicle autonomy.

Elon Musk
Elon Musk

Autonomy as Tesla's Value Proposition

In an enlightening revelation, Tesla CEO Elon Musk indicated on Friday that the electric car giant's market value is principally founded on vehicle autonomy. Addressing the Paris VivaTech event, Musk expressed his belief that autonomy is the chief driver of the company's value. Unexpectedly, he also acknowledged that Tesla's current stock market value surpasses his own anticipations.

Unmet Expectations and The Road to Autonomy

Despite Musk's optimism, it's notable that Tesla's journey towards achieving full self-driving capability has seen its fair share of setbacks. The company has missed several targets for autonomy over the years. Even the “Full Self-Driving” software that Tesla markets today does not actually confer complete autonomy to its vehicles, but instead demands continuous driver supervision.

Musk's Confidence in Overcoming Autonomy Challenges

Undeterred by past hurdles, Musk remains confident in the promise of autonomous vehicles. "I think we will solve autonomy soon," he announced during the same event, hinting at significant advancements to come in Tesla's autonomous vehicle technology. He further justified the high market valuation, emphasizing that even a discounted chance of achieving autonomy offers immense value due to the transformative potential of this technology.