Elon Musk says that the difference between whether Tesla is “valued for a lot or basically worth zero” is all about solving self-driving technology.


Elon Musk

Elon Musk’s vision for fully autonomous vehicles is to be able to find and pick up drivers.Maya Hitty / Getty Images

  • Elon Musk says that the real value of Tesla lies in solving the problem of autonomous driving.

  • Without innovative technology, automakers are “basically worth zero,” Musk said.

  • He has promised self-driving cars since 2015, but Tesla has faced setbacks with its software ever since.

Tesla founder Elon Musk said the key to the value of his electric car maker is the ability to implement self-driving technology, without which the company is “basically worth zero.” Added.

The millionaire was talking about some software issues in the Tesla car that he wanted to fix, such as the web browser in the car, but he said it’s too late now.

“But the overwhelming focus is on solving fully autonomous driving,” Musk said. interview On the YouTube channel “Tesla Owners Silicon Valley” released on Tuesday.

“It’s essential, it’s the difference between Tesla being worth a lot or basically being worth zero,” he said.

Mask has made an unfulfilled promise to develop self-driving cars Tesla after 2015When he predicted that technology would be on the road within three years.

Tesla already has an “autopilot” feature that allows the car to automatically adjust speed and steer in the lane, but this feature requires driver supervision.

A “fully automated” service that Tesla owners can purchase for a one-time charge $ 12,000 or $ 199 monthly subscription, Allows the car to automatically change lanes, recognize stop signs and traffic lights and park. However, as with the autopilot feature, the driver’s full attention is required in the car.

2019By the end of the year, Musk was convinced that Tesla would be able to “find you in the parking lot, pick you up, and take you all the way to your destination without intervention.” I have. “

“It’s not a question mark,” he said at the time.

But Tesla faces setbacks on it Autonomous driving software prototype, It is unknown when the technology will be officially released. Mask at the announcement of financial results for the fourth quarter of 2021 held in January I promised again Tesla will be fully autonomous by the end of the year.

As of Wednesday Tesla shares are worth $ 699It has fallen 41% from its January peak of $ 1,200 to the present. Tesla’s market capitalization is estimated at $ 724 billion.

Read the original article Business insider