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Tesla’s car business isn’t really in the driver’s seat

Livemint · 3m

Tesla's valuation has surged despite a decline in vehicle deliveries for 2024, highlighting the market's focus on its AI potential rather than traditional car sales. This comes even as the company faces its first annual sales drop amid a wider EV industry slump. Tesla's high stock valuation is partly driven by AI ambitions and Elon Musk's influence. However, analysts express skepticism, emphasizing the need for Tesla to achieve significant milestones in self-driving technology to justify its market value.