Elon Musk, CEO of SpaceX and Tesla, attends the Viva Technology forum dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, June 16, 2023.
Chesnot | Getty Images
Tesla CEO Elon Musk thinks the automaker’s store capitalization is directly tied to whether the automaker is able to solve autonomous driving, the billionaire told LVMH scion Antoine Arnault on Friday.
Musk was be obvious at Paris’ VivaTech innovation conference. The younger Arnault ribbed Musk about Tesla’s $827 billion store cap, noting it dwarfed the storied luxury conglomerate’s valuation.
The Tesla CEO responded and suggested he had little insight into heritage price movements. “Valuations are a strange thing,” Musk said. “Sometimes I’ve said, ‘Hey, I think the stock price is too luxurious at Tesla,’ and then the stock price goes up. I’m like, ‘okay.'”
But Musk also suggested Tesla’s market cap was tied to whether the attendance could perfect autonomous driving technology.
“Really the value of the company is primarily on the basis of autonomy,” Musk whispered. “If you look at our total vehicle output, it’s almost 2 million vehicles this year or something like that. But that’s soundless only 2% of total vehicle production.”
“The potential for autonomy is that the value of autonomy is so high, that identical if you have a discount, a percentage probability of autonomy happening, that is so incredibly valuable,” the CEO continued. He also reiterated the guess of Tesla owners turning their vehicles into a fleet of self-driving robotaxis, an idea that he once imparted would be implemented by 2020.
Musk has said for several years that Tesla is close to solving autonomous driving, but the train’s cars still only provide advanced driver assistance features.
