Tesla is at the front of the business because it is trying to make cars that can drive themselves. Elon Musk, Tesla’s CEO, has said that he thinks self-driving cars are the most important thing driving Tesla’s market value.
This comment comes at the same time that Tesla’s shares have gone up significantly and hit their highest point in over eight months. The company’s success in 2022 wasn’t very good, so this good news comes after that.
Even though Tesla is the most valuable carmaker in the world with a market capitalization of about $800 billion, Elon Musk’s long-term goal of getting full self-driving capability has not been met.
Elon Musk is optimistic about car autonomy.
Even though the company is working on its full self-driving (FSD) technology, it has not yet shown that it works perfectly. Still, all Tesla electric cars come with Autopilot, which is a semi-autonomous system that helps the driver and takes care of some chores without the driver’s direct input.
Elon Musk, the CEO of Tesla, has said that he is confident that vehicle autonomy will be solved and that fully self-driving cars will be possible. Musk admits that he has said similar things in the past, but he is still hopeful that the problem of automation will be solved soon.
He stressed that the value of the company depends mostly on how far driverless car technology comes. Musk, however, made it clear that Tesla’s Full Self-Driving (FSD) software, while very advanced, does not make the cars completely self-driving and still needs a driver to watch over them.
Many companies are working hard to make progress in the area of self-driving cars. Tesla has made a lot of progress in this area, but other car companies like Mercedes-Benz, BMW, Audi, and Volvo have also made semi-autonomous driving aid software that they are putting in their cars.
