Tesla’s robotaxi launch is set to kick off in Austin, Texas, with a modest fleet of 10-20 autonomous vehicles operating on the streets. The move aims to bolster the electric vehicle maker’s market value, which could reach $2 trillion by 2026 if successful. Analysts predict a “march” towards this valuation due to upcoming advancements in Full Self-Driving and Cybercab development.
Tesla CEO Elon Musk has confirmed a tentative June 22 launch date for its robotaxi program. The service will initially operate within a geo-fenced area, with Tesla owners able to add their vehicles to an Uber-like fleet. Plans also include expanding the service to multiple cities and introducing the Cybercab, which lacks steering wheels and pedals.
The company’s recent market recovery has largely offset losses incurred after Musk’s public spat with President Donald Trump earlier this month. However, regulatory complications may still arise due to ongoing debates over autonomous vehicle regulations in Texas. Despite these concerns, bullish analysts focus on the robotaxi launch as a catalyst for Tesla’s growth.
Source: https://www.investopedia.com/why-wedbush-says-tesla-market-cap-could-be-on-road-to-usd2t-after-this-weekend-11758418