Ark Invest is a firm believer in Elon Musk, Tesla and the self-driving car future.
For many years, there were people who did not believe in Jeff Bezos and Amazon. Ark Invest believes Tesla will be proven out in a few years just as Amazon was.
Tasha Keeney, Analyst at ARK Invest and Cathie Wood, Founder, CEO, and CIO at ARK Invest chat with Elon about the future of Tesla and autonomous driving.
Ark Invest believes that innovation is being undervalued in the markets.
Ark believes that as pricing of electric vehicles prices drop with cheaper batteries then there will be an increase from 1.3 million electric vehicle sales in 2018 to 26 million in 2023. This would be about one-third of the world’s total car sales. Elon agrees with this and only thinks it might happen in 2024.
Elon indicates that Tesla and electric cars are advancing exponentially. This is why it is difficult to forecast. Elon’s guess is 1.5 million cars in 2021 for Tesla. Elon guesses Tesla could make 3 million cars in 2023.
“The reason Tesla is making rapid progress is because we have vastly more data, and this is increasing exponentially.” — @elonmusk [0:17:01]
“No matter how you slice the data, it is unequivocal at this point that it’s safer to have autopilot on.” — @elonmusk [0:20:11]
Tesla has by far the most self-driving car data. They have the most cars in self-driving car mode.
Elon Musk is certain that they will have feature complete self-driving car by the end of this year. There is still the need to improve the statistical reliability. However, the regulators will need to be convinced of the safety with data.
Elon Musk thinks the Tesla cars will be safe enough for the driver to go to sleep for the whole trip by the end of 2020.