Elon Musk to unveil his robotaxi vision: Can Tesla deliver on its promises
- by Auto News India
- Oct 09, 2024
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09 Oct 2024, 10:04 AM
Share via: Also Read : GM's Cruise to offer robotaxis on Uber's platform from next year
Musk said in 2019 he was "very confident" the company would have operational robotaxis by the next year. This year he shelved plans for a new, affordable vehicle in a sharp pivot to robotaxis. Tesla "should be thought of as an AI robotics company," not a carmaker, he said.
Few observers, if any, expect a fully functioning product.
"We believe the robotaxi event will be long on vision, and short on immediate deliverables or incremental revenue drivers," Bernstein analyst Toni Sacconaghi said in a research note. "The company has a track record - particularly in FSD - of being overly optimistic and there is significant devil in the details."
Tesla could also give specifics on cheaper versions of its current lineup as well as update investors on its humanoid robots, Optimus, he said.
High expectations and risk
Musk wants to set up an autonomous ride-hailing service with privately-owned Tesla EVs when not in use. Drivers who have managed to test the software have described critical flaws in the tech. (REUTERS)
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Musk wants to set up an autonomous ride-hailing service with privately-owned Tesla EVs when not in use. Drivers who have managed to test the software have described critical flaws in the tech. (REUTERS)
Hopes are high ahead of the event - called "We, Robot" in an apparent nod to the "I, Robot" collection of science-fiction short stories by American writer Isaac Asimov.
Tesla shares - hurt in recent years by worries EV rivals with cheaper and fresher models are eating in to its market share - are up nearly 50% since April when Musk announced the shift to robotaxis. Still, expectations of volatility in Tesla's stock over the next 30 days are close to a two-year high, driven primarily by uncertainties around the robotaxi event, according to options data from Trade Alert.
Bringing self-driving vehicles to market has proven time-consuming and costly for other companies.
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