TECH - Will Tesla's Robotaxi Have Competition? Fund Manager Gary Black On Why It 'Seems Naive' To Say 'This Time Is Different' | Benzinga
Amid the hype surrounding Tesla, Inc. (NASDAQ:TSLA) investor and fund manager Gary Black on Sunday delved into whether the electric vehicle maker’s full self-driving technology is worth all the hype surrounding it.
What Happened: Black is convinced about the technology’s potential. “No one disagrees that fully autonomous vehicles are the future of the auto industry,” the fund manager said in a post on X, formerly Twitter. He, however, doesn’t think FSD is a zero-sum game.
“The debate has always been whether there will be 1 automaker ( ) that solves general autonomy, or 10 or 20,” Black said. He noted that China’s Baidu, Inc. (NASDAQ:BIDU) already has 500 robotaxis in service, with 50% of its fleet capable of being driven autonomously.
Baidu’s fleet has provided 6 million rides to paying customers, he noted.
“In the history of the auto industry, every successful ...