Musk says vehicle autonomy is 'main driver' of Tesla value
Tesla CEO Elon Musk said on Friday that vehicle autonomy is the "main driver" of the company's value. Musk made the comments during a visit to Paris, where he met with French President Emmanuel Macron.
Tesla has been working on self-driving technology for several years, and Musk has said that he believes the company will be able to achieve full autonomy within the next few years. He has also said that Tesla's self-driving technology will be a major competitive advantage for the company.
Musk's comments come at a time when Tesla is facing increasing competition from other automakers that are also developing self-driving technology. However, Musk believes that Tesla is ahead of the competition in terms of self-driving technology.
"We're probably the only company that has a real chance of achieving full autonomy," Musk said. "And once we do, it's going to be a huge deal."
Tesla's shares rose by as much as 3% to their highest level in more than eight months following Musk's comments.
Here are some of the potential benefits of vehicle autonomy:
Increased safety: Self-driving cars could potentially reduce the number of traffic accidents.
Increased productivity: People could use the time they would otherwise spend driving to work, school, or other activities.
Increased accessibility: Self-driving cars could make it easier for people with disabilities to get around.
Reduced pollution: Self-driving cars could potentially reduce traffic congestion and pollution.
However, there are also some potential risks associated with vehicle autonomy:
Job losses: Self-driving cars could lead to job losses in the transportation industry.
Security risks: Self-driving cars could be vulnerable to hacking or other security threats.
Legal liability: It is not clear who would be liable in the event of an accident involving a self-driving car.
Overall, vehicle autonomy has the potential to be a major disruptive technology. However, it is important to be aware of the potential risks and benefits before widespread adoption of this technology.