Elon Musk Reacts As Tesla Celebrates 1B Miles Driven With FSD Software: 'Won't Be Long Before…10B Miles'
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) announced its vehicles have driven one billion miles using its Full Self-Driving (FSD) software, a significant increase from below 800 million miles at the end of 2023. CEO Elon Musk praised the Tesla AI team and projected reaching 10 billion FSD miles soon. The milestone follows Tesla's efforts to boost FSD adoption, including a 30-day free trial in the U.S. and in-car demonstrations of its driver-assist features. Musk emphasized the importance of vehicle autonomy to Tesla's market value.
April 06, 2024 | 2:43 am
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POSITIVE IMPACT
Tesla's announcement of reaching one billion miles driven with FSD software and efforts to increase FSD adoption could positively impact investor sentiment and TSLA's stock price.
The milestone of one billion miles driven using FSD software demonstrates Tesla's progress in autonomous driving technology, a key factor in its market valuation according to CEO Elon Musk. Efforts to increase FSD adoption, such as free trials and in-car demonstrations, could lead to higher software take rates, potentially boosting Tesla's revenue and reinforcing its leadership in EV technology. This news is likely to be viewed positively by investors, contributing to a bullish outlook for TSLA's stock in the short term.
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