Tesla could become one of the most valuable software companies, UBS says

Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020.
Aly Song | Reuters

Tesla's leadership position in the electric vehicle space could help it become one of the most valuable software companies, according to UBS.

The firm said that while legacy automakers can challenge Tesla in terms of both electric vehicle volume as well as cost-efficient scalable platforms, Elon Musk's company will dominate the software space. UBS values the autonomous vehicle market at more than $1 trillion.

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