Elon Musk Is Expanding Tesla's Robotaxi Network Beyond Austin and Miami. Here's Why That's Important for the Future Success of the Stock.
Elon Musk is finally making good on his robotaxi predictions.
Overview
Tesla (NASDAQ: TSLA) is not valued as a traditional automotive stock. Much of the company's $1.1 trillion valuation is tied to future growth opportunities such as robotics and artificial intelligence. Robotaxis might be the company's largest long-term opportunity, with some experts predicting this industry will one day be worth $10 trillion worldwide.
Initially, Tesla CEO Elon Musk was very bullish about the pace and scale of Tesla's robotaxi rollout.
Details
"I think we'll probably have autonomous ride hailing in probably half the population of the U.S. by the end of the year," Musk predicted in mid-2025. That never happened. Later that year, Musk told investors to expect "no safety driver by end of year" for the company's robotaxis. That, too, never came to pass.
Source
Originally published at www.fool.com.