Experts: robotaxis will add another $150 billion to Tesla's capitalization

Analysts at Capital Markets report that Tesla shares could rise by an additional 19%, pushing the company's total market capitalization to more than $150 billion.

Experts believe that robot taxis can significantly change society and account for more than 70% of Tesla's future value. In this regard, the Canadian company increased its target price for Tesla shares to $305, which is 19% higher than the previous price of $255.90 at the close of trading on Thursday.

Over the past month, a rise in Tesla shares has already boosted the company's total market capitalization by more than $270 billion following deals with General Motors and Ford to increase access to Tesla's charging infrastructure.

With advanced autonomous driving technology, Tesla is becoming the leader in the robot taxi market and is expected to take a 25% market share in the US market, 8% in Europe and 7% in China.

Tesla's share price has already risen by 107% during 2023, and in the last month alone, the company's market capitalization has increased by more than $300 billion.