Investor and former Tesla board member Steve Westly: According to self-driving cars, there is one particular trend that defines the automotive industry. And he says investors should be careful. “Waymo and self-driving cars are the future, the end of the story,” Westley, who sat on Tesla’s board between 2007 and 2010, told CNBC’s “Squawk Box Europe” on Friday. “And they’re coming right away. In the San Francisco Bay Area, where I live, it looked like sci-fi just five years ago. Now you see them everywhere. After you’ve done it a single or two, you’ve completely forgotten that there’s no driver in the driver’s seat. This is the future,” he added. While autonomous or autonomous driving is currently low, Goldman Sachs expects the number of these commercial vehicles on U.S. roads to grow from 1,500 to around 35,000. “Anyone who wins this tech battle is likely to have the most valuable vehicle company in the world,” Westley said. “Not only North America, it’s faster than people think. China is moving forward. There’s a full boa competition coming. Prices are falling. That’s a good thing because older people, people with vision problems, other people, women tend to prefer them because they’re safer,” he added. Tesla’s position in the autonomous driving race is currently dominated by Waymo of the Alphabet. It exists in the US cities of San Francisco, Los Angeles, Phoenix, Austin and Atlanta. According to Westly, the company “doesn’t matter what’s extraordinary.” “They will not only be able to get 24 million next year from 12 million vehicles next year, but by the end of this year, if they can do cities and highways, they will be allowed to ride cities and highways, if they can do cities and highways. For Tesla to compete, they must show that the promise of self-driving cars is “real” and that exaggerated Optimus humanoid robot is coming. “So if you’re an investor, that’s something you should keep an eye on,” he added. Tesla’s Robotaxis is located in Austin, Texas. They are also deployed in the California Bay Area and have been approved for expansion to Arizona. EV makers’ shares have so far rise by around 6.4% per year, well below Nasdaq Composite’s 18% profit. Tuesday investors are looking for a company to follow up on the bullying video released over the weekend. This speculates that it may be ready to release a new car. Automakers also want to have to go to global Europe and take part in autonomous car development and adoption. “The automotive industry is the pride of Europe, and new technology can save jobs and breathe new life into the sector. Therefore, the future of cars, and the cars of the future, must be produced here in Europe,” said Ursula von der Reyen of the European Union on Friday on stage at Italian Technology Week. Von Der Leyen announced that a coalition of 60 Italian mayors has “already expressed their interest” in establishing a network of European cities where “the first self-employed vehicle could hit the road.” But in the West, all markets will be attended by winning automakers. “In the past, to set up a great car company, we had to dominate one of three big markets: China, North America and Europe,” he said. “The world is now becoming an important market. Do you sell cars in India, Indonesia, Brazil, Vietnam? That’s where BYD really excels with a $20,000 car. Tesla needs something in that market.
