Elon Musk: If We Execute On Our Objectives, And I Think We Will, Tesla Will Become the Most Valuable Company In the World - By A Long Shot
- by Torque News
- Oct 24, 2024
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Elon Musk, known for his visionary ambitions and tendency to set the bar high, has once again made headlines with his prediction for Tesla during the Q3 2024 earnings call. He said:
If Tesla executes on their objects, which I think we will, then Tesla will become the world's most valuable company - by a long shot.
If Tesla executes its plans effectively, Musk believes it could surpass all current corporate giants to become the world's most valuable company. Here's an exploration of what this might look like by 2030, considering Tesla's diverse business ventures and market trends.
Current Landscape
As of late 2024, Tesla has already shown remarkable resilience and growth, particularly highlighted by its recent Q3 earnings which saw the stock surge due to lower cost of goods sold and efficiencies made. Tesla's market cap has danced around the trillion-dollar mark, occasionally surpassing it, and going lower, but Musk's vision stretches far beyond this.
The Road to 2030 and Beyond
1. Electric Vehicles (EVs) and Autonomous Driving:
Market Expansion: Tesla aims not just to lead, but to expand the EV market. With factories worldwide and plans for more affordable models like the Cybercab, Tesla could capture an even larger share of the automotive market.
Full Self-Driving (FSD): If Tesla solves FSD, as Musk suggests could happen by 2026 with the Cybercab, this could revolutionize transportation. A robotaxi fleet could generate significant revenue, potentially making vehicle sales just a part of Tesla's income stream.
2. Energy Sector:
Solar and Storage: Tesla's energy generation and storage business could see exponential growth if global trends towards renewable energy continue. With products like the Powerwall and Solar Roof, Tesla could become a leader in sustainable energy solutions, contributing massively to its valuation. Tesla is only about 1% of the way there in its energy business, so there is a lot of room to grow.
3. Robotaxi and Mobility Services:
By launching a robotaxi service, Tesla could tap into a recurring revenue model far beyond selling cars. If each Tesla vehicle in the robotaxi fleet operates at high utilization rates, the revenue could be staggering, potentially dwarfing traditional car sales.
4. AI and Robotics (Optimus):
Musk's mention of humanoid robots like Optimus capturing a significant market share could add an entirely new revenue stream. If Tesla captures even 10% of a hypothetical multi-billion-unit market, as Musk speculated, this could indeed push Tesla's market cap into unprecedented territory.
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