Elon Musk says Tesla close to self-driving cars
Tesla CEO Elon Musk has announced that the company is on the verge of achieving fully autonomous vehicles, during a visit to Paris on Friday. Musk emphasized that autonomy is the key factor driving Tesla’s market value. Following his statement, Tesla shares saw a nearly 2% increase, reaching their highest level in over eight months at $260.54. As the world’s most valuable automaker, Tesla boasts a market capitalization of approximately $800 billion. Despite missing Musk’s previous targets, the billionaire expressed confidence in solving the challenge of autonomy in the near future at the VivaTech conference. Musk stated, “The value of the company is primarily on the basis of autonomy. That’s really, I think, the main driver of our value.”
Tesla acknowledges that its current “Full Self-Driving” software does not render its vehicles fully autonomous and still requires driver supervision. Just before attending the VivaTech conference, Musk held a meeting with French President Emmanuel Macron for the second time in a little over a month. French officials are actively working to persuade Musk to select France as the location for Tesla’s next gigafactory in Europe. Musk also had lunch with Bernard Arnault, the head of luxury goods giant LVMH, and his two sons, Antoine and Alexandre. Arnault and Musk have been vying for the title of the world’s richest person, with Musk recently surpassing Arnault after a decline in luxury sales and a surge in Tesla stocks.
FAQs about Tesla’s Autonomous Vehicles:
Q: What did Elon Musk announce regarding Tesla’s autonomous vehicles?
A: Elon Musk stated that Tesla is close to achieving fully autonomous vehicles.
Q: What impact did Musk’s statement have on Tesla’s shares?
A: Following Musk’s announcement, Tesla shares saw an increase of nearly 2%, reaching their highest level in over eight months.
Q: How does Tesla’s autonomy contribute to the company’s market value?
A: Musk emphasized that autonomy is the primary driver of Tesla’s market value.
Q: How does Tesla’s current “Full Self-Driving” software function?
A: Tesla’s current software does not make its vehicles fully autonomous and still requires driver supervision.
Q: Why did Musk meet with French President Emmanuel Macron?
A: French officials are attempting to convince Musk to choose France as the location for Tesla’s next gigafactory in Europe.
Q: Who did Musk have lunch with in Paris?
A: Musk had lunch with Bernard Arnault, the head of LVMH, and his sons Antoine and Alexandre, both of whom were previously ranked as the world’s richest person.
Tesla Nears Completion of Self-Driving Car Technology, Affirms Elon Musk
Tesla CEO Elon Musk stated during a visit to Paris on Friday that the company is on the verge of achieving fully autonomous vehicles, with autonomy being the main driver of the brand’s market value. In response, Tesla shares rose by nearly 2%, reaching their highest level in over eight months at $260.54. As the most valuable automaker in the world with a market capitalization of approximately $800 billion, Tesla has long struggled to meet Musk’s targets for full self-driving capability. However, Musk expressed confidence in their ability to solve autonomy soon during a speech at the VivaTech conference, emphasizing its critical role in the company’s value. It should be noted that Tesla’s “Full Self-Driving” software, while not yet autonomous, still requires driver supervision.
During his visit, Musk also met with French President Emmanuel Macron for the second time in just over a month. French officials are eager to persuade Musk to choose France as the location for Tesla’s next gigafactory in Europe. In addition, Musk had lunch with Bernard Arnault, the head of luxury goods conglomerate LVMH, and two of Arnault’s sons. Both Musk and Arnault have taken turns as the world’s richest person, with Musk recently taking the lead due to a decline in luxury sales and a surge in Tesla stocks.
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