Tesla Inc. is that company which is trying its best to produce electric vehicles, and now recent comments from Elon Musk have come who thinks Tesla will be managed to cross a valuation of more than $500 billion. Musk said that through self-driving technology Tesla would be able to get the valuation of more than half of a trillion dollars. A few days ago Tesla decided to raise further capital by issuing shares to the general public and underwriters.
The company currently is not going through good financial condition since problem of cash burnout is still inevitable for the company. To continue production of electric vehicles Tesla’s executives decided to raise capital from investors further. Self-driving technology is going to be the key to future which is a primary reason why so many giant automaking companies are shifting their core business into this new sector. Elon Musk while revealing new features of Tesla cars a few days ago said that Tesla might be able to beat Uber and Lyft in ridesharing business.
He thinks self-driving cars are going to play significant roles and it will automatically destroy the market potential of Uber and Lyft. The current valuation of Tesla Inc. is $42 billion also Musk thinks this new self-driving technology can change the valuation of company drastically. He told investors not to worry about current problem of cash burn out since it’s just temporary, but still, some analysts are skeptical about Tesla’s future. Musk has decided to buy more shares of Tesla Inc. in this further issue which company is going to do in the next few days. It seems like Elon is pretty much optimistic about the company even if some analysts and experts doesn’t think that way.