Tesla has long sold investors on the hope of a brighter future. But these days, what is that mission? At first, the electric automaker, founded 20 years ago, was to many investors and fans the answer to climate change, especially as Elon Musk showed the world that a zeroemissions vehicle could be both cool and profitable. At one point, he said helping to reduce the risk of catastrophic climate change is why Tesla "exists." As time wore on and others began chasing the EV dream, Musk positioned Tesla as something else, a gateway for artificial intelligence to move from the digital world into the physical world through driverless cars and THE WALL STE then humanoid robots.
Tesla, it seemed, was full of limitless potential.
But lately, Musk sounds less urgent about climate change. And last month, Musk threw investors a curveball.
That bright AI future he has talked about for so long? Well, he doesn't feel comfortable doing it at Tesla after allunless he gets another giant payday that gives him more control.
Such threats immediately raise an existential question for Tesla investors: What makes the company special in a world where Musk doesn't see climate change as a near-term risk and is wavering on his commitment to pursue Alat Tesla? Shares of Tesla, which have already valued the company well beyond any other mere carmaker, have fallen more than 20% this year through Friday while other tech giants, such as Microsoft and Nvidia, have seen huge gains fueled by excitement around their work in AI.
In January, Adam Jonas, a high-profile analyst with Morgan Stanley, attributed 22% of his price target for Tesla's stock to the future value created by an autonomous car fleet of about 220,000 vehicles by 2030. But he also pulled back some of his expectations after Musk's comment about control.
Denne historien er fra February 12, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra February 12, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
World Bank calls for reforming skills training in India
India must make a coordinated effort to reform and rebrand vocational skill training, besides aligning education with the job market, to leverage its demographic advantage to meet the $5-trillion target for its economy, the World Bank said.
FCPA cases take long to conclude after indictment
For investors keen to know the fate of billionaire Gautam Adani's indictment by US authorities, the watchword is patience.
Short-covering, relief rally add ₹7.27 trillion wealth
Markets up 2.39% to hit the highest in six months, a day after Adani's indictment
Wetter monsoon slows pace of adding new transmission lines
India's addition of new power transmission lines fell by half over a year earlier in the April-October period as a wetter-than-usual monsoon slowed work.
COP29's $1.3 tn fund plan disappoints Global South
The 29th edition of the UN climate change conference in Azerbaijan emerged from a deadlock with an annual climate finance goal of $1.3 trillion for developing countries, much to the disappointment of the Global South.
Jaguar rebrand is pink, diverse and doesn't feature any cars
Luxury automaker Jaguar is betting that a colorful and youthful rebrand will help it successfully launch fully into the electric-cars market.
Services up as manufacturing slows in Nov
The HSBC Flash India Services PMI was at 59.2 in Nov from 58.5 in Oct; manufacturing PMI fell slightly from 60.4 to 60.2
MSMED may protect medium firms too
The Centre may consider including medium enterprises for the protection granted under MSME Development (MSMED) Act, 2006, to resolve payment disputes.
Europe boosts Indian textile exports in FY25
Demand for Indian handloom, apparel partly fuelled by Bangladesh crisis
RBI nudges banks to cut speculative bet in rupee
The Indian central bank, in a rare move, instructed some banks to cut their long positions on the dollar-rupee pair on Friday, seeking to curb speculative positions with the currency at a record low, four bankers familiar with the development told Reuters.
