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Electric vehicle (EV) sales in the U.S. are projected to comprise nearly one-third of all new car sales by 2030, up from 3.4% in 2021. Tesla (NASDAQ: TSLA) is in a strong position due to its funding and diverse vehicle lineup. While Rivian and Lucid remain unprofitable, Tesla has been profitable nearly every quarter for the past five years, with a market cap of $1 trillion.
Last month, Elon Musk launched a robotaxi service in Austin, Texas, which is expected to significantly impact Tesla’s valuation. Analyst Cathie Wood estimates that the global autonomous taxi market could reach between $8 trillion to $10 trillion. Ives suggests that the robotaxi opportunity alone could add $1 trillion to Tesla’s market cap by the end of 2026.
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