Tesla Inc. is reportedly in discussions with Austin, Texas officials to launch its autonomous vehicles for testing as early as 2025. The potential move could mark a significant milestone in the company’s driverless vehicle ambitions.
Tesla’s Ambitions in Autonomous Vehicles
Elon Musk-led Tesla has been actively exploring opportunities to deploy its driverless fleets. According to reports, a Tesla employee has been in touch with Austin city officials since May to create a safety framework for the deployment.
Stock Market Reaction
The news has positively impacted Tesla’s stock, which surged over 3% in premarket trading to hover at $453.91. This boost reflects the company’s potential for growth and innovation in the autonomous vehicle sector.
Impact on Tesla’s Future Prospects
Analysts believe that a driverless fleet could significantly impact Tesla’s prospects. Wedbush analyst Dan Ives thinks that the company’s autonomous story alone is worth $1 trillion and could potentially contribute to a $2 trillion market capitalization mark by the end of 2025.
Tesla’s Autonomous Vehicle Testing
Tesla has been actively testing its Cybercab, which was spotted navigating traffic autonomously within the Giga Texas facility premises. A video shared on social media showcased the vehicle’s capabilities.
Current Market Performance
On a year-to-date basis, Tesla’s stock is up 77.2%. As the company continues to push the boundaries of autonomous vehicle technology, investors are closely watching its progress.
Tesla’s Path Forward
Tesla’s pursuit of a self-driving vehicle launch in Texas represents a crucial step forward for the company. With its autonomous vehicle ambitions and innovative approach to sustainable energy, Tesla is poised to remain a leader in the electric vehicle market.