Elon Musk recently took to X to announce that the company’s long-awaited Robotaxi project will be unveiled on August 8. ARK Invest Analyst Tasha Keeney joins Yahoo Finance Live to discuss the significance of this announcement.
Keeney acknowledges that there has been "a lot of progress" in Tesla’s self-driving software in recent years. While she admits the autonomous driving technology is "not perfect," she notes that consumers have shown it works. Keeney expresses confidence that in five years Robotaxi technology will drive significant gains for Tesla.
However, Keeney emphasizes that the release of the Robotaxi will depend on when the software will be ready. She explains that Tesla’s current vehicles can become fully autonomous once the necessary software updates are made. Despite potential delays in unveiling the Robotaxi prototype, Keeney believes the announcement demonstrates the company’s confidence in the progress of its Robotaxi network.
Furthermore, Keeney highlights Tesla’s "unparalleled data advantage" over its competitors in the autonomous driving space. She believes the company has more than enough data mileage to "train their models," underscoring that "data is key" in this rapidly evolving industry.
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