Tesla Inc. TSLA CEO Elon Musk on Thursday agreed with a shareholder that the company would likely hit a $24 trillion market cap ten years down the line, thanks to its success with humanoid robots and self-driving robotaxis.
What Happened: A Tesla investor who goes by Alex on X on Wednesday detailed his expectations for Tesla ten years down the line. According to the investor, Tesla will operate nearly 100 million robotaxis and over a billion Optimus robots by 2034, making Tesla a $24 trillion stock. However, media skepticism for the company will not end even then, the investor opined.
“The year is 2034 — Tesla operates close to 100 million Robotaxis and over 1 billion Optimus robots while $TSLA is a $24 trillion stock — Legacy Media headline reads: "Random New Scheme is the Next Tesla Killer," he wrote. The investor also opined that legacy media might go extinct by 2029.
“That is probably an accurate prediction,” Musk said in agreement.
Musk has often slammed mainstream media for the coverage of his companies, including Tesla.
Unlike most companies that actively engage with the media, Tesla does not respond to media queries. It has reportedly not had a dedicated public relations department since October 2020. The broader communication strategy of Tesla relies heavily on Musk and various Tesla handles on social media platform X, which he also owns.
“The legacy media is a click-maximizing machine, rather than a truth-maximizing machine,” Musk said in May.
Why It Matters: During Tesla’s annual shareholder meeting earlier this month, Musk said that there will be at least one humanoid robot for every person in the world in the future, implying a total humanoid robot population of at least 10 billion or more, of which the EV company will have a significant share.
"While autonomous vehicle is a $5-$7 trillion market cap situation, Optimus is a $25 trillion market cap situation," Musk, who is known to over-hype his company's products, then said. The CEO himself admitted that he is "pathologically optimistic" but delivers in the end.
Following a major hardware revision by the end of this year or early next year, Tesla expects to commence limited production of the Optimus to work in its factories and test its capabilities, the CEO added.
Tesla also plans to unveil its dedicated robotaxi product on Aug. 8. The CEO, in April, said that dedicating to autonomous driving is a "blindly obvious move" for Tesla.
"Even if I got kidnapped by aliens tomorrow, Tesla will solve autonomy, maybe a little slower, but it would solve autonomy for vehicles at least," Musk said at the company’s first-quarter earnings call. "If somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor in the company."
Check out more of Benzinga's Future Of Mobility coverage by following this link.
Photos courtesy: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
