CEO of Tesla, Elon Musk has attached a $500 billion valuation prediction to the company’s self-driving technology.
The prediction has come about whilst Tesla attempts to raise over £2 billion.
According to Coinspeaker, Tesla’s CEO has said that the automotive company’s market cap could surge to $500 billion in the coming years.
Musk claimed that Tesla’s self-driving cars are ahead of competitors such as GM’s Cruise and Alphabet’s Waymo because it has a fleet of connected cars on the road today, and a proprietary chip, reports Coinspeaker.
Tesla began rolling out an Autopilot feature called “Enhanced Summon” in 2019 to members of its early access program. It enables a Tesla vehicle to drive itself to the owner, say, in parking lots as long as the owner holds a finger on the button on their smartphone screen via the Tesla app. Currently, Summon allows you to navigate the car forward and backward slightly and slowly while touching the app screen from nearby.
However, Coinspeaker reports that some people don’t have full confidence in Musk’s self-driving valuation prediction saying he’s being ‘delusional’.