Tesla Moves Towards the "Golden Era": Musk Focuses on Autonomous Driving, Market Value Target of 2 Trillion (Double the Current Valuation)

Dan Ives, Managing Director of Wedbush Securities and a Tesla bull, stated that as Musk commits to focusing on Tesla, the electric vehicle giant is entering a "Golden Era." Tesla, currently valued at $1.08 trillion, is expected to reach a market value of 2 trillion through 1. autonomous driving and 2. robotics technology.

1. Autonomous Driving Leads the Future: Ives believes the market underestimates Tesla's potential in autonomous driving and robotics technology. Musk plans to expand the robotaxi fleet to millions of vehicles by the end of 2026, with the first phase launching 10-20 Model Y vehicles in Austin next year, having already deployed 300 testers.

2. Musk's Fresh Look: Ives noted that Musk has shown a new side, focusing on Tesla's core business, reducing political involvement, boosting investor confidence, and increasing stock prices.

3. Robotaxi Vision: Musk reiterated the launch of the robotaxi in Austin in June, emphasizing that Tesla does not need to acquire Uber, relying instead on its own fleet and a vehicle owner-sharing model to build an autonomous driving service network.

4. Short-Term Challenges Do Not Deter Long-Term Optimism: Despite a decline in sales in the European market in April, Musk stated that the situation has been reversed, and global performance remains strong. Ives believes that short-term demand fluctuations do not hinder the beginning of the "Golden Era."

Ives concluded that Tesla's autonomous driving technology will surpass Waymo, with broad market prospects, and Musk's strategic adjustments pave the way for success.

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