Elon Musk May Have Just Saved Tesla

On the eve of Christmas in a high-stakes showdown, visionary CEO Elon Musk of SpaceX and Tesla successfully charted a crucial lifeline for his electric car company, Tesla, saving it from plunging into bankruptcy. In December 2008, the company was on the brink of financial collapse, with funds running dry on Christmas Eve. Despite sharp disagreements with investors, Musk’s steadfast resolve and unconventional strategies not only rescued Tesla but also preserved the dream of electric cars. His efforts ensured that Tesla survived its darkest hour.

Elon Musk May Have Just Saved Tesla
Elon Musk May Have Just Saved Tesla (Image Credit Bing)

One technology Musk opposes is LiDAR. Musk states, ‘Anyone relying on LiDAR is doomed. Doomed. Expensive sensors that are unnecessary.’ For instance, Tesla’s FSD (Full Self-Driving) does not utilize laser-based 3D mapping sensors; instead, it relies on cameras to understand its surroundings.

This stance is against the entire self-driving industry, which widely considers LiDAR essential for fully autonomous self-driving cars. In this regard, it raises a significant question whether Tesla can ever produce a safe self-driving car with its current approach, which is particularly concerning as Musk is staking the future of the entire company on unlocking this technology before anyone else. However, it seems Musk has realized the flaw in his approach as Tesla recently purchased $2 million worth of LiDAR from Luminar. While this may seem like a minor change in public perception, it could potentially save Tesla.

When I say Musk has fully bet the company on self-driving, I mean it! Tesla has discontinued its highly anticipated Model 2 in favor of robotaxis on the same platform. It has also halted Gigafactory development, which could have made manufacturing all Tesla models cheaper. Musk has also ousted key talents.”

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