On April 15, Tesla CEO Elon Musk predicted a future where cars will be as unremarkable and functional as elevators, emphasizing the inevitability of autonomous driving technology. Drawing an analogy with historical manual elevator operation, Musk highlighted the rapid progression toward a world where self-driving cars become the norm.
▲Screenshot of Tesla CEO Musk’s post
Responding to online comments, Musk envisioned a future where manually driven cars become rare, preserved mainly for recreational purposes similar to equestrian sports today. He reiterated his belief that the future value of Tesla hinges largely on its success in pioneering autonomous driving technologies.
Despite ambitious projections made as early as 2018, where Musk promised over a million fully autonomous vehicles by 2019, Tesla has yet to fully realize this goal. Current Autopilot and Full Self Driving (FSD) features, while advanced, still require driver supervision and fall short of complete autonomy.
▲Elon Musk, Co-founder and CEO of Tesla
Tesla’s journey towards autonomous driving has not been without its challenges, including technical hurdles and regulatory scrutiny, reflecting the broader industry’s struggles with this transformative technology.
▲Elon Musk had revealed plans for a Robotaxi at the Tesla Battery Day on September 22, 2020. Image: Tesla
Recently, Musk announced on the social media platform X plans to launch a driverless taxi service, dubbed “Robotaxi,” on August 8. Initiated as part of Tesla’s 2016 MasterPlan Chapter 2 and slated for potential mass production in 2024, the Robotaxi aims to operate without traditional driving components like rearview mirrors, pedals, and steering wheels. This vision depends heavily on achieving mature Level 4 or higher autonomous driving technology and regulatory approval.
▲Tesla’s Full Self-Driving (FSD) system V12.3
Musk has boldly claimed that the Robotaxi service could elevate Tesla’s valuation to $10 trillion and secure its legacy for the next century. Analysts are optimistic, estimating that Robotaxi could constitute up to 70% of Tesla’s market value, underscoring its potential impact on the company’s financial future.