Tesla's market capitalization, just above $1 trillion currently, might embark on a journey towards doubling in value by the close of 2026, contingent on the successful launch of its robotaxi venture this week, as per analysts including Dan Ives from Wedbush, who disclosed this on Friday. The team, maintaining their "outperform" rating and the highest Street price target of $500, indicated the pace towards a $2 trillion valuation for Tesla in the upcoming 12 to 18 months due to the Full Self-Driving and autonomous Tesla application as well as the Cybercab acceleration in the United States.
Tesla CEO Elon Musk revealed last week that the company was aiming for a June 22 launch of its robotaxi initiative in Austin, Texas. The analysts disclosed that selected Tesla users have received invitations to utilize the Model Y Robotaxi service commencing on Sunday.
Musk's plan entails 10 to 20 Model Y vehicles transporting paid passengers entirely independently within a restricted geographic area of Austin, with a goal to broaden to other cities with more vehicles in the future. Musk also anticipates Tesla owners contributing their vehicles to a fleet similar to Uber, with the production of the steering wheel and pedal-less Cybercab scheduled for next year.
On Friday, Tesla announced via Chinese social network service Weibo the signing of an agreement to construct its debut grid-level battery power plant in China.
Analysts optimistic about Tesla stock are shifting their attention towards the robotaxi launch and away from Musk's public disagreement with President Donald Trump earlier this month. On the other hand, pessimistic analysts think this quarrel may complicate Tesla's regulatory path.
A coalition of Texas politicians requested this week that Tesla postpone its robotaxi rollout until new autonomous vehicle regulations are implemented in September.
Despite trading at about $324 recently, a marginal increase to under 1% and a 20% decrease this year, Tesla shares have regained most of the ground lost due to the public exchange between Musk and Trump earlier this month.