Tesla CEO Elon Musk confirmed that they are testing a driverless &#34;Robotaxi&#34; in Austin, Texas. The news stimulated Tesla (TSLA) to rise 3.6% to $475.31 on Monday, approaching its historical high of $488.54. On the other hand, Dan Ives, Managing Director and renowned technology analyst at the American investment bank Wedbush Securities, stated that due to Tesla's efforts in developing and promoting AI projects, the market value could potentially reach $3 trillion by the end of 2026; the stock's latest market value is $158 billion, indicating a potential increase of nearly 90%.
Recently, a user on social media platform X posted a video showing a Tesla Robotaxi driving in Austin, Texas, with no one inside. Subsequently, a supporter of Musk shared the video and received confirmation from Musk that the testing is ongoing and the vehicle is indeed empty. Tesla's Vice President of AI Software, Ashok Elluswamy, also stated that everything has begun.
<h2>Current Development Still Behind Waymo and Baidu</h2>
Currently, Tesla is still behind Waymo, a subsidiary of Alphabet, in the autonomous driving market, and it is also not as advanced as Baidu (9888) with its Apollo Go service in Asia. As of October, Tesla's Robotaxi fleet in Austin consists of 30 or fewer vehicles. Musk has indicated that the company plans to increase the fleet size to 60 vehicles by the end of this year.
In contrast, Waymo operates approximately 2,000 Robotaxi vehicles across multiple cities, including Phoenix, San Francisco, Los Angeles, Atlanta, and Austin. The company recently reported that the number of paid rides per week has exceeded 450,000, nearly double the 250,000 rides in April.
On the other hand, Wedbush Securities analyst Dan Ives stated that as the autonomous driving and robotics business gradually moves towards commercialization, Tesla is entering a critical development phase. He predicts that Tesla's market value will reach $2 trillion by 2026, and in an optimistic scenario, it could even reach $3 trillion. He reiterated a &#34;outperform&#34; rating for Tesla and maintained a target price of $600

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Tesla CEO Elon Musk confirmed the testing of autonomous taxis in Austin, Texas, stimulating a 3.6% rise in stock prices. Investment bank Wedbush analyst Dan Ives predicts that Tesla's market value could reach $2 trillion by 2026, and in an optimistic scenario, it could reach $3 trillion. Tesla is currently lagging behind Waymo and Baidu in the autonomous driving market

- Tesla CEO Elon Musk confirmed the testing of a driverless "Robotaxi" in Austin, Texas, leading to a 3.6% stock increase to $475.31.  
- Analyst Dan Ives from Wedbush Securities predicts Tesla's market value could reach $3 trillion by the end of 2026, up from its current $1.58 trillion, as the company advances its AI projects.  
- Currently, Tesla's Robotaxi fleet in Austin consists of 30 vehicles, with plans to expand to 60 by year-end, while competitors Waymo and Baidu operate significantly larger fleets.

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Elon Musk confirms testing of unmanned Robotaxi; investment banks expect key development phase, with the most optimistic forecast of a 90% increase next year