Tesla, under the leadership of CEO Elon Musk, is on the verge of achieving fully autonomous vehicles, as stated by Musk himself during a visit to Paris. He emphasized that autonomy is the key factor driving the brand’s market value. This announcement led to a nearly 2% increase in Tesla’s shares, reaching their highest level in over eight months. With a market capitalization of around $800 billion, Tesla is currently the most valuable automaker in the world. Despite missing Musk’s previous targets, he expressed confidence in solving autonomy in the near future during his talk at the VivaTech conference.
Musk highlighted that autonomy is the primary driver of Tesla’s value. However, Tesla clarifies that their “Full Self-Driving” software does not make their vehicles fully autonomous and still requires driver supervision. In another notable event, Musk held a meeting with French President Emmanuel Macron for the second time in just over a month. French officials are actively persuading Musk to choose France as the location for his next Tesla gigafactory in Europe.
Additionally, Musk had a lunch meeting with Bernard Arnault, the head of luxury goods powerhouse LVMH, and his sons Antoine and Alexandre. They discussed matters of mutual interest. Arnault and Musk have taken turns being the world’s wealthiest individual, with Musk currently leading after a luxury market decline and Tesla stock rally.
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