There's Time, and there's Elon Time. They are generally not the...

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dyeman

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10/03/21

12:49

Post #: 51657644
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Originally posted by Stephan90 ↑

"Next year for sure, we will have over a million robotaxis on the road," said Musk on October 21, 2019. "The fleet wakes up with an over-the-air update. That's all it takes."

Elon Musk Promised 1 Million Tesla Robotaxis by the End of 2020. Where Are They? (thedrive.com)

I am not a lawyer but when a CEO of a publicly trade company listed on the S&P 500 makes an announcement on Autonomy Investor Day, which he knows is not feasible then the company or he himself could be held liable. I guess lawyers and judges would have to determine what "robotaxis on the road" means in a legal sense. In my opinion a robo taxi on the road is a car that can perform taxi services autonomously. It is not enough to have just the hardware on board and a promise that in the future it will get updated with the neccessary software to function as a robo-taxi. I absolutely think that much of the inflated market value of Tesla is based on a wrong perception of market participants in regards to the question what Teslas autonomous driving capabilities and roadmap really are.

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There's Time, and there's Elon Time. They are generally not the same.

What Elon Musk tweets and what is in an official company announcement are not the same (from a lawyer's point of view). No doubt a Tesla lawyer would argue that there are indeed a million Teslas on the road equipped with all of the hardware required to be a robo-taxi. Just need to iron out a couple of bugs in the software and get regulatory approval.

(Tesla is listed on the NASDAQ stock exchange. The S&P 500 is an index (in which Tesla was included on December 21 2020) , not a stock exchange).

ORE Price at posting: $4.48 Sentiment: Hold Disclosure: Held
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0 Great analysis

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