Elon Musk, CEO of SpaceX and Tesla, goes to the Viva Technology conference committed to development and start-ups at the Porte de Versailles exhibit centre in Paris, June 16, 2023.
Chesnot|Getty Images
Tesla CEO Elon Musk believes the car manufacturer’s market capitalization is straight connected to whether the car manufacturer has the ability to resolve self-governing driving, the billionaire informed LVMH scion Antoine Arnault on Friday.
Musk was speaking at Paris’ Viva Tech development conference. The more youthful Arnault ribbed Musk about Tesla’s $827 billion market cap, noting it overshadowed the storied high-end corporation’s assessment.
The Tesla CEO reacted and recommended he had little insight into stock cost motions. “Valuations are a strange thing,” Musk stated. “Sometimes I’ve said, ‘Hey, I think the stock price is too high at Tesla,’ and then the stock price goes up. I’m like, ‘okay.'”
But Musk likewise recommended Tesla’s market cap was connected to whether the business might best self-governing driving innovation.
“Really the value of the company is primarily on the basis of autonomy,” Musk stated. “If you look at our total vehicle output, it’s almost 2 million vehicles this year or something like that. But that’s still only 2% of total vehicle production.”
“The potential for autonomy is that the value of autonomy is so high, that even if you have a discount, a percentage probability of autonomy happening, that is so incredibly valuable,” the CEO continued. He likewise restated the concept of Tesla owners turning their automobiles into a fleet of self-driving robotaxis, a concept that he when stated would be executed by 2020.
Musk has actually stated for a number of years that Tesla is close to resolving self-governing driving, however the business’s automobiles still just offer innovative motorist help functions.
