JPMorgan tripled its Tesla price target to $475 per share from $145, projecting the automaker will generate approximately $320 billion in robotaxi revenue by 2035. According to analyst Rajat Gupta, nearly all of that revenue will flow through Tesla’s directly owned fleet rather than a peer-to-peer model where individual owners would rent out their vehicles. Tesla launched its autonomous ride-hailing service in Austin in June 2025 before expanding to Dallas, Houston, and the San Francisco Bay Area. The Full Self-Driving technology has accumulated approximately 10 billion miles of driving data from a global fleet of roughly 9 million vehicles. JPMorgan expects Tesla’s total revenue to reach approximately $203 billion by 2030.
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