Elon Musk Promised "Over a Million Robotaxis" by 2020. None Materialized, and a Dedicated Robotaxi Fleet Isn't Expected Until at Least 2027. Here's What That Track Record Means for Tesla's Valuation.

"If you fast forward a year, maybe a year and three months, but next year for sure, we'll have over a million robotaxis on the road."

You'd be forgiven if you thought that quote from Tesla (NASDAQ: TSLA) CEO Elon Musk came during the company's Cybercab event earlier this month or a recent investor event. In fact, Musk shared that prediction at Tesla's Autonomy Day back in April 2019.

Musk has a track record of making overly optimistic predictions about his companies. That means relying on his comments during earnings calls can lead to extreme overvaluations for the business.

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