Amid rapidly increasing hardship and adversity for Tesla, the company’s CEO, Elon Musk, has been trying to bring renewed enthusiasm to investors. He is said to have said that people who believe in the value of Tesla’s Full Self-Driving (FSD) technology are smart people, Electrek claims. The Tesla CEO recently commented on how most people don’t understand, don’t know, or don’t realize what the car company is doing and how great it is on Twitter. His latest comment made during the Q4 2022 investor monetization call also holds the same view.
Musk has previously said that when the company finally delivers on its self-driving car promises, the EV maker will unlock tens of thousands of dollars in value per Tesla vehicle. FSD will be able to turn Tesla cars into robot taxis. However, the electric vehicle company, by way of over-promising and under-delivering, also missed the deadline in this case. Therefore, Musk did not mention FSD for a long time. For now, however, he’s mostly focused on comments on the improvements to the Tesla FSD Beta without giving a timeline for delivering it.
Also read: Elon Musk’s Mysterious Ways Showcased in Tesla’s Tweet Trial
Talking about the added value of FSD, Musk said that FSD will have tremendous growth potential to increase the value of Tesla cars. “One thing that I think some of these smart retail investors understand but I think many others may not – is that every time we sell a car, it has the ability, just upload the part. software, to fully enable self-driving mode. and full self-driving is clearly getting better very quickly. So that’s really a huge growth potential because all those cars, with some exceptions, just a small percentage of the cars don’t have Hardware 3, so that means there’s a lot of them. million fully self-driving cars can be sold for essentially 100% gross margin. And its value increases as its autonomy increases. And then, when it becomes fully automated, it’s a value increase in the fleet. That could be the biggest gain in asset value in history. Yes,” he said at the financial meeting.
First published date: January 30, 2023, 10:57 am IST
