June 20 - Tesla (TSLA, Financial) is set to launch its robotaxi operations in Austin this Sunday, with about 20 Model Y vehicles operating in a designated area, Wedbush mentioned in a Friday note.
The firm called the move a key milestone that could define Tesla's next phase, estimating the autonomous unit alone could eventually add $1 trillion to the electric carmaker's valuation.
Wedbush maintained its Outperform rating and $500 price target, citing Tesla's global reach and progress in artificial intelligence and driverless technology.
The firm expects Tesla to scale the service to roughly 25 U.S. cities within a year and sees potential policy support ahead. Analysts said a Trump presidency could accelerate regulatory clearance for full self-driving systems.
Tesla plans to begin production of its dedicated robotaxi model, the Cybercab, sometime next year, the note added.
Wedbush believes Tesla's roadmap on autonomy and robotics will unfold gradually, saying, “Rome wasn't built in a day.” In a bull case, the firm sees Tesla reaching a $2 trillion market cap by the end of 2026.
