Tesla’s Future: Musk Affirms Robotaxi and Autonomous Vehicles

Tesla Inc. has reported its financial results for the first quarter of 2024, revealing that it has been surpassed by Chinese automaker BYD as the world’s leading electric vehicle (EV) manufacturer in terms of units shipped. CEO Elon Musk spoke about the company’s plans for autonomous vehicles and emphasized its focus on artificial intelligence (AI). Musk reiterated his vision for Tesla to operate millions of autonomous EVs as Robotaxis, a service similar to Uber. He also mentioned the possibility of Tesla owners renting out their vehicles, similar to the concept of Airbnb. Tesla confirmed that Robotaxi is a future project, with more details to be provided in August. The company is also aiming to reduce manufacturing costs by 50% through a new production system. Musk expressed interest in expanding Tesla’s business model and partnering with other car manufacturers to license its Full Self Driving (FSD) technology. However, it is important to note that Tesla’s advanced driver-assistance system still requires drivers to remain attentive and keep their hands on the steering wheel. Musk urged investors to experience FSD firsthand to understand its potential. Tesla has faced challenges this year, including a decline in stock prices and production cuts at its China plant. The company’s market cap has decreased by nearly $250 billion, leading to a decrease of over 31% in its stock value year-to-date.