At c. US$700 billion, Tesla’s lofty market capitalisation is buoyed by promises of fully autonomous vehicles. Elon Musk’s original masterplan (now removed from the Tesla website) was to “develop a self-driving capability that is 10X safer than manual via massive fleet learning” and to “enable your car to make money for you when you aren’t using it“.
So far, these have been a pipe dream. The 10th October “We, Robot” event is meant to assuage critics. Judging by the share price drop of c. 8% the following day, market participants are not convinced by Tesla’s autonomous future.
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