Tesla teases robotaxi ride-hailing app ahead of August unveiling

Tesla Teases Robotaxi Ride-Hailing App Ahead Of August Unveiling


Electric car maker Tesla and its CEO Elon Musk on Tuesday unveiled new details of its long-awaited autonomous ride-hailing service — one that would allow drivers to summon driverless vehicles in an Uber-like experience.

During its April 23 first-quarter earnings call, the company previewed what a ride-hailing app might look like, showing a driver being able to summon a vehicle, adjust the car's interior temperature, track its location, and determine its location. What music to play.

A preview of the ride-hailing service in the Tesla app. Source: Tesla

Tesla has long teased the mass release of the Axis robot. In the year In 2019, Musk said that he was “very confident” that Tesla would start making robotaxis by 2020 – a no-brainer.

The program allows a Tesla owner to lease out their vehicle to drive, with Tesla taking a cut of the revenue and the rest going to the vehicle owner – each car is projected to generate a gross profit of $30,000 per car per year.

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During the last earnings call, Mook explained that the program would work more like “a combination of Airbnb and Uber” where Tesla would operate a fleet of cars but would have more cars owned by the end user.

“That end user can add or subtract their car to the fleet whenever they want, and they want to allow the car to be used only by friends and family or five-star users or whoever,” Musk said. .

“At any time, they can have the car returned to them and make it theirs just like Airbnb,” he added.

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Musk has hinted that the initial fleet will be around 7 million vehicles, but estimates that it could eventually be in the “tens of millions”.

Tesla is set to unveil a “purpose-built” robotaxi in August, which Musk called “unbelievable” in his latest earnings call.

No, Tesla did not add more bitcoins.

Meanwhile, the latest earnings report shows that Tesla has not touched its Bitcoin (BTC) for the seventh straight quarter, contrary to recent estimates.

Last month, observers noted that Tesla's Bitcoin wallet on the Arkham Intelligence dashboard held 11,509 BTC, 1,789 more than the widely reported holdings of 9,720 BTC – as listed on BitcoinTreasures.

Some speculated that it could mean Tesla added more bitcoins during the quarter.

However, Tesla's latest balance sheet shows that its net digital assets remained unchanged at $184 million.

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Tesla balance sheet as of March 31, 2024. Source: Tesla

Shares of Telsa rose 13 percent in afternoon trading despite Q1 earnings that missed analysts' expectations and the company posted one of its steepest declines in revenue.

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