Does Elon Musk really want to produce drones and electric aircraft?

Tesla's CEO has again hinted at this possibility. And with electric cars earning less money, he might actually try it

By: Francesco Barontini

Oct 3, 2024 at 3:30am ET

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Tesla always pays attention to new technologies as well as new forms of mobility. It is not surprising, therefore, if one day it claims to want to produce drones and other electric aircraft. Indeed, it only took a hint from Elon Musk at this possibility to immediately trigger speculation.

Some go even further, saying that once Tesla has "taken flight", it could even try its hand at making an eVTOL (electric vertical take-off and landing aircraft) and make its debut in the world of zero-emission, unmanned air transport, which is expected to take its first steps within a few years.

You have to differentiate to keep growing

But back to the present, Elon Musk, a few days ago, reportedly hinted at the possibility of trying to produce drones. This was said by Morgan Stanley analyst Adam Jonas, who commented:

"Is it just me seeing some signs that could connect Tesla to the world of aviation? Tesla operates in the fields of robotics, artificial intelligence and electric cars. Cars provide 81% of revenues, but they are a declining sector".

Tesla faces increasing competition in the car sector

Conclusion: new business opportunities must be found. Jonas also said that if confirmation came about Tesla's possible involvement in drones and air transport, the shares could rise in value to break through the $1,000 mark. But Musk, at the moment, has given no clarification. So why do they infer from Morgan Stanley that there is an opening for this new business? One has to go back to Musk's own speech during a meeting with shareholders.

The whole world of transport is ready for electric

Tesla's number one is to have said that the world is moving in the direction of all-electric transport. "I'm not just talking about cars", Musk said, "but also planes and boats". This is not the first time the CEO has made such remarks.

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Among the projects Elon Musk is working on is the humanoid robot Optimus

Similar statements have been made since 2020. However, until last year, Tesla seemed to be more focused on car production and it seemed that certain talk was more general and abstract. Now, however, with the changed mobility scenario and the willingness to push on parallel projects to the electric car such as the Robotaxi or the Optimus, Tesla could really try its hand at this sector of drones and eVTOLs, which by 2050 could be worth a staggering $9 trillion. Let's wait for the next few months (maybe wait until 10 October) to find out more.