Vehicle autonomy is the main driver of Tesla's value, says Elon Musk

When it comes to autonomous driving technology or self-driving technology, Tesla is among the frontrunners that have been working on this for quite some time and advanced quite far. Tesla CEO Elon Musk believes that vehicle autonomy is the main driver for the automaker's market value. His comment comes at a time when Tesla's shares rose by as much as three per cent to their highest level in more than eight months, after performing in a lacklustre way in 2022.

Currently, the world's most valuable auto manufacturer, Tesla has a market capitalisation of around $800 billion. However, the EV manufacturing company has missed Elon Musk's long-promised target to achieve full self-driving capability for years. While the company is now working on full self-driving technology (FSD), it is yet to be proven flawless. However, all the Tesla electric cars come equipped with Autopilot, a semi-autonomous technology that acts as a driver assistance system and performs some tasks without the driver's interference.

Speaking about vehicle autonomy and Tesla's much-talked-about and much-hyped Full Self-Driving (FSD), Musk has said that the company will solve the autonomy soon. "Although I've said this before, I think we will solve autonomy soon," said Tesla CEO, further adding that “The value of the company is primarily on the basis of autonomy." However, he also mentioned that what Tesla calls FSD software, doesn't make its vehicles autonomous and requires driver supervision.

Vehicle autonomous is a segment where several other automakers are working aggressively. While Tesla already has advanced quite a bit in this space, other car manufacturers like Mercedes-Benz, BMW, Audi, and Volvo have also developed different semi-autonomous driver assistance softwares that are being implemented in their respective cars. However, none of these software come promising a complete autonomy, where driver intervention is not required.

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