Tesla’s Value Skyrockets on Robo-Taxis Promise

RBC Capital Markets analysts predict a potential leap of over $150 billion in 's market value, spurred by the rising demand for robo-taxis. The self-driving taxi, which may drastically change society, could constitute over 70% of the electric vehicle titan's future worth.

Tom Narayan and his team at the Canadian bank have increased Tesla's share price target to $305, a jump of over 19% from Thursday's closing price of $255.90. This forecast could inflate Tesla's total valuation by an additional $155 billion. Over the past month, the company has already seen a staggering market cap increase of over $270 billion, buoyed by partnerships with General Motors and Ford.

Tesla's self-driving technology reportedly puts it in a prime position to dominate the robo-taxi market. The RBC team anticipates the electric vehicle manufacturer could secure a 25% market share in the US and smaller percentages in and .

“This is central to the Tesla investment thesis,” the analysts emphasized. Tesla's stock price has already risen by 107% in 2023, with a market cap increase of over $300 billion in just the past month.

RBC also noted other factors that could spur the stock's strong rally, including Tesla's initial success in pricing and recent deals with and General Motors.

The analysts foresee additional benefits from the surging interest in artificial intelligence, which has driven tech giant Nvidia to reach a $1 trillion valuation.

“The post-Nvidia trade is in full force, benefiting companies with the perception or ambition to exploit A.I. capabilities,” Narayan's team concluded.

YouTube video

Discover more from EVXL

Subscribe to get the latest posts sent to your email.

Haye Kesteloo
Haye Kesteloo

Haye Kesteloo is the Editor in Chief and Founder of EVXL.co, where he covers all electric vehicle-related news, covering brands such as Tesla, Ford, GM, BMW, Nissan and others. He fulfills a similar role at the drone news site DroneXL.co. Haye can be reached at haye @ evxl.co or @hayekesteloo.

Articles: 459

Leave a Reply

en_USEnglish (United States)