- Tesla CEO Elon Musk announced on X (formerly Twitter) that the company will unveil its Tesla Robotaxi on August 8, 2024.
Robotaxi Details
- The Tesla Robotaxi is a next-generation self-driving vehicle that Musk has discussed for years, with the goal of allowing Tesla owners to make money by renting out their vehicles for autonomous taxi rides.
- Musk had previously suggested the robotaxis would be operational by 2020, but the project has faced delays.
- The robotaxi is intended to be a fully autonomous vehicle without the need for human controls, though experts have questioned whether Tesla's self-driving technology is advanced enough to safely operate a robotaxi service.
Regulatory Challenges
- Regulators in the U.S. and China have only approved self-driving cars in limited, experimental instances on public roads so far.
- Tesla has faced lawsuits and investigations related to crashes involving its existing Autopilot and Full Self-Driving driver-assistance systems.
- Experts have raised safety concerns about the deployment of autonomous taxis, citing incidents involving Cruise and Waymo vehicles.
Competitive Landscape
- Tesla will be entering a market that already has offerings from competitors like Waymo (a Google/Alphabet subsidiary) and Cruise (a GM subsidiary).
- These competitors have been testing self-driving cars on roads for years, while Tesla's timeline has faced delays.
According to the oracle of Wall Street, we're looking at an average 12-month price target of $196.72, a hair away from $197.80, with a side of optimism to the tune of 18.06% upside from its current perch at $166.63.
Now, let's sprinkle in some spice. We've got 47 analysts in the mix, cookin' up a consensus price target of $197.80. But hold onto your hats, because we've got a high target of $310.00 and a low of $85.00. That's a rollercoaster ride with an 11.81% potential upside from the last close.
But wait, there's more! Fresh from the analyst oven, we've got hot takes from Morgan Stanley, Goldman Sachs, and Deutsche Bank. Picture this: Morgan Stanley's serving up a $310.00 price target, while Goldman Sachs and Deutsche Bank are bringing in a $175.00 and $189.00 price tag respectively.
So, to sum it all up in a neat little package, the consensus price target for Tesla is dancing around the $197-$198 mark, but don't forget we've got a wild range from $85 to $310.
And you know here at Today's Top Stocks, we LOVE upside. So a 50% upside from consensus represents a very attractive number to me…
But before you buy TSLA, you should read this…
Is Elon about to lose the Autopilot arms race?
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Elon Musk has led the charge to bring Autonomous driving to the world…
But is this tiny company about to leap Tesla and take the lead in this Autopilot arms race?
Normally I wouldn't bet against Elon Musk…
But this company has 12 patents protecting a new technology that could completely change the game for autonomous vehicles.
And I'm not the only one who's excited about it…
Bill Gates, the Co-Founder of Microsoft, recently had this to say about the new technology this company is working on…
“This is as revolutionary as the personal computer, the Internet, and the mobile phone. It will change the way people work, learn, travel, and communicate with each other.”
But here's what's REALLY crazy about this…
The company with 12 patents who is about to beat Elon in the Autopilot arms race?
It's trading for less than $2 a share right now…
But once this thing goes mainstream, it could skyrocket…
To get more details about this little known company before the masses catch on…
