The well-known analyst and partner at Future Fund, Gary Black, posted a series of messages on platform X, highlighting the underlying reasons for Tesla's sluggish progress in rolling out its unsupervised Full Self-Driving (FSD) and Robotaxi services. Black pointed out that Tesla had initially aimed to make its autonomous vehicle services available to half of the U.S. population by the end of last year. Subsequently, the company revised its target, stating it would double its fleet size every month. However, the latest growth forecast has been scaled down to a mere 10% increase per week.
Black believes that the persistent underperformance of Tesla's stock price stems from investors' waning confidence in the scalability of its FSD technology. This technology currently relies on a fleet of 90 to 100 autonomous vehicles operating without safety drivers. To put things in perspective, Black drew a comparison between Tesla and Waymo, Google's autonomous driving subsidiary. Waymo currently operates 4,000 autonomous vehicles without safety drivers and completes over 500,000 Robotaxi trips on a weekly basis.