IT House reported on April 21 that during the first quarter of 2022 earnings conference call, Elon Musk shared some details about Tesla’s new Robotaxi (autonomous taxi) vehicle.The new car won’t have a steering wheel or pedals, as it will be driven entirely using Tesla’s Full Self-Driving (FSD) software.
“We’re also developing a new vehicle, which I mentioned at the opening of Tesla’s GigaTexas, a specialized robotaxi that’s highly optimized for autonomous driving, which means It won’t have a steering wheel or pedals,” Musk said on the latest earnings call.
Musk added: “There’s a lot of innovation around it that I think is pretty exciting. It’s trying to get the lowest cost per kilometer, and I think it’s going to be a very strong product.”
Musk estimates that a ride in a self-driving taxi will cost less than a subsidized bus ticket.Tesla aims to have mass production of its purpose-built self-driving taxis by 2024. The company plans to unveil the new self-driving taxi sometime next year.
Musk believes that a fleet of self-driving taxis will give Tesla a big boost in the future.
IT House understands that Ark Investment Management recently predicted that Tesla’s self-driving taxi fleet could generate $48.6 billion in annual revenue by 2026. Tesla’s self-driving taxi business could contribute 60% of its expected value. If Tesla successfully launches its fleet of self-driving taxis, Tesla stock will be worth $4,600 by 2026.
The rollout of the robo-taxi fleet will depend on Tesla’s FSD software development, which will need to be fully refined since robo-taxi will have no steering wheels and pedals.
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