Musk’s bets on Tesla: no human drivers this year, robots next

Musk’s bets on Tesla: no human drivers this year, robots next

Tesla CEO Elon Musk

Tesla (NASDAQ:TSLA) is trading up 2.07% at 937.41

Tesla (NASDAQ: TSLA)’s most important products this year and next will not be cars, CEO Elon Musk said on Wednesday, but software that drives them autonomously and a humanoid robot the company expects to help out in the factory.

The audacious promises by the best-known billionaire in the electric car industry face major challenges, from technology to regulation. Tesla and other auto technology companies have missed their targets for self-driving software for years.

Musk has built a career on defying skeptics with working businesses in electric cars and rockets. Some Tesla drivers buy $12,000 self-driving packages in the expectation that full autonomy is around the corner, and 60,000 Tesla drivers are testing the latest self-driving software, a scale that other autonomous vehicle software companies can only dream of.

“I would be shocked if we do not achieve full self-driving safer than human this year. I would be shocked,” Musk said, predicting full self-driving would become “the most important source of profitability for Tesla.”

“It’s nutty good from a financial standpoint,” he said, saying robotaxis would boost the utility of a vehicle by five times, as owners can send their cars out to work when not needed.

Tesla uses cameras and artificial intelligence, avoiding other technologies such as radar and lidar that rivals such as Waymo include. That approach has drawn fire.

On technical fronts Tesla (NASDAQ: TSLA) RSI stood at 31.68 and currently stock is trading below all MA. So, the SELL position can be taken with the following target and stop-loss:

TRADE SIGNAL – : Tesla (NASDAQ:TSLA) – SELL: 937.41, TARGET: 906.56, STOP LOSS : 981.44

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