During his visit to Paris, CEO Elon Musk revealed that Tesla is on the cusp of achieving fully autonomous vehicles, emphasizing that autonomy is the primary factor driving the brand’s market value. This announcement caused Tesla’s shares to surge by up to 3%, reaching their highest level in over eight months.
Despite being the world’s most valuable automaker with a market capitalization of approximately $800 billion (almost Rs. 65,55,000 crore), Tesla has faced challenges in meeting Musk’s goals of attaining full self-driving capability. However, Musk expressed confidence in the near-term resolution of these obstacles during his speech at the VivaTech conference: “Although I’ve said this before, I think we will solve autonomy soon.”
Musk further emphasized that autonomy is the main driver of Tesla’s value, reinforcing its importance and impact on the company’s overall success. Tesla clarifies that their “Full Self-Driving” software does not render their vehicles fully autonomous and still requires driver supervision.
In addition to his conference appearance, Musk also met with French President Emmanuel Macron for the second time in just over a month. French officials are actively vying for France to be selected as the location for Tesla’s forthcoming gigafactory in Europe.
During his visit, Musk also enjoyed a lunch meeting with Bernard Arnault, the renowned head of luxury goods giant LVMH, along with his sons Antoine and Alexandre. Interestingly, Musk and Arnault have intermittently held the title of the world’s wealthiest individual, with Musk currently holding the lead due to a surge in Tesla stocks.
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