Tesla Robotaxi's Aspirational Volume Production in 2024 Will Be 'Massive Driver' Of Growth,' Says CEO Elon Musk
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has stated that the company's Robotaxi products will be a 'massive driver' of growth, with volume production expected in 2024. Musk has been promoting the idea of fully autonomous Tesla vehicles functioning as a Robotaxi since 2019. However, Tesla is yet to achieve complete self-driving capability. ARK Invest's Cathie Wood also expressed optimism about Robotaxis, predicting that the autonomous taxi platform business will grow globally to $8-$10 trillion in revenue in 2030.
July 20, 2023 | 4:52 am
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POSITIVE IMPACT
Tesla's Robotaxi products are expected to significantly drive growth, with volume production anticipated in 2024. This could potentially boost Tesla's stock price in the short term.
The news about Tesla's Robotaxi products being a 'massive driver' of growth is directly related to the company and its future earnings. If Tesla achieves volume production in 2024 as expected, this could significantly boost the company's revenues and potentially its stock price. However, it's important to note that Tesla is yet to achieve complete self-driving capability, which is a key factor for the success of the Robotaxi products.
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IMPORTANCE 80
RELEVANCE 100