Tesla stock is priced for a mainstream, autonomous future, but the company faces strategic uncertainty, leadership troubles, and hardening competition.
made it clear that Musk is here to stay, even as calls grow louder from some investors and analysts for a leadership change. But Tesla's rough week extends beyond questions of Musk's stewardship and the board's accountability. Tesla's stock is priced for a mass-market, autonomous future, but the company is mired by a host of troubles standing in the way of that story.
Elon Musk arrives at the tenth Breakthrough Prize Ceremony on Saturday, April 13, 2024, at the Academy Museum of Motion Pictures in Los Angeles. Tesla and its market valuation have come under increasing scrutiny even before its recent bout of challenges. But competition is everywhere. And while shaking up stodgy Detroit fueled Tesla's rise, legacy car companies are churning out incremental innovations.
Instead of mass-producing an affordable consumer EV, an updated blueprint would rely on building autonomous fleets and clearing the technological and regulatory barriers for fully self-driving vehicles. Tesla bulls contend that was part of the market appeal all along. And boosters point to the company's enormous stockpile of data as a crucial tool to commercialize the next era of driving.
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