Tesla Robotaxi Expansion Predictions by Elon Musk
Elon Musk announced that Tesla’s robotaxi service is set to become “very, very widespread” by the end of 2023 in the U.S. This statement comes as Tesla prepares to launch robotaxi services in additional cities, having already rolled out its first robotaxis in Austin, Texas, last year. Currently, Tesla’s robotaxi service trails behind Waymo, which reportedly provides around 450,000 paid rides weekly.
Tesla’s stock (NASDAQ: TSLA) is trading at a significantly high valuation of 390 times its trailing earnings, compared to an average of 26 times for S&P 500 companies. As Musk sets ambitious growth expectations, investors are advised to proceed cautiously, given the high stakes and previous instances where projections have not met reality.
