..if Elon is now focused on his new Robotaxi FSD (fully self drive) vision, that would be bad news for lithium
Why?
1) He will move a focus on producing more EV cars to delivering the FSD concept: he has tried FSD before which failed, and resulted in some legal cases, which was also showcased recently in 60 minutes
2) Robotaxi means fewer EV taxis to provide transport for the masses: consumers relying on FSD taxi have less propensity to buy EVs, so fewer EVs mean less lithium consumption
3) Less EV has big implications for the many US battery plants under plan and construction leading to a possible glut even within the USA
4) If his FSD vision flies, Elon may be a genius transforming the entire transportation industry - it may even make US car makers including EV makes less relevant
This is why even lithium bull Juan Carlos Zuleta feels this Robotaxi would be bad for the lithium space.
As I theorised in an earlier post: Elon may have been abandoned by his engineers after announcing Robotaxi.
Robotaxi may be very good for Tesla stock if Elon can pull it off successful, no doubt Cathie Woods has every confidence he can. I invite you to check out an earlier post I made on Robotaxi concept as explained by a featured writer.
Tesla $TSLA CEO Elon Musk just said: “Not quite betting the company, but going balls to the wall for autonomy is a blindingly obvious move”
