Tesla's autonomous chapter 'one of the most important' in its history says Wedbush
In a note on Friday, Wedbush said the service will begin with around 20 Model Y vehicles operating in a geofenced area around Austin, with plans to scale to 'roughly 25 cities in the U.S. over the next year.'
Analysts described the event as a 'foundation of autonomous growth for years to come' and called it 'one of the most important' chapters in Tesla's history.
'We believe the AI future at Tesla (NASDAQ:TSLA) is worth $1 trillion to the valuation alone over the next few years,' Wedbush wrote. The firm reiterated its Outperform rating and $500 price target, citing Tesla's unmatched global scale in AI and autonomy.
Wedbush also sees regulatory tailwinds under a Trump presidency, predicting that federal oversight will soon simplify approval for full self-driving technologies.
'Trump wants the U.S. to stay ahead of China in this AI Arms Race,' the analysts said, adding that autonomous technology 'is a key factor in who wins AI… with Tesla playing a major role on robotaxis.'
The launch marks only the beginning, according to Wedbush. 'Rome was not built in a day… and neither will Tesla's autonomous and robotics strategic vision,' they said.
Full-scale production of Tesla's purpose-built robotaxi, the Cybercab, is expected to start next year.
Wedbush concluded, 'We believe Tesla could reach a $2 trillion market cap by the end of 2026 in a bull case scenario.'
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