Tesla and its CEO Elon Musk have disclosed fresh insights into their much-anticipated autonomous ride-hailing service, introducing features akin to summoning self-driving cars through an Uber-style app. The company provided a glimpse of the ride-hailing application's functionalities in its first-quarter earnings report on April 23, showcasing features enabling passengers to request a vehicle, adjust the interior temperature, monitor their journey, and make music selections. Tesla has long hinted at a widespread deployment of robotaxis, a concept initially anticipated to commence in 2020 but has yet to materialize.
In this envisaged program, Tesla owners would have the option to rent out their vehicles for rides, with Tesla receiving a portion of the earnings while the remaining proceeds go to the owners, translating to an estimated gross profit of $30,000 per vehicle annually. Musk clarified during the earnings call that the initiative would resemble a hybrid model akin to "a cross between Airbnb and Uber," with Tesla managing the primary fleet while end-users maintain ownership of many vehicles. Users would have autonomy over their vehicles' usage, including decisions on whether to limit usage to friends and family or to open it up to wider access.
End users would retain full control over their vehicles, akin to the Airbnb model, with the ability to add or remove cars from their fleet as desired. Musk hinted at an initial fleet size of approximately 7 million vehicles, potentially expanding to "tens of millions" over time. Tesla aims to unveil its dedicated robotaxi, dubbed "Cybercab," in August, according to Musk's latest earnings call. Despite the unveiling of these plans, Tesla's latest earnings report reveals that the company has refrained from engaging with Bitcoin for the seventh consecutive quarter.
Speculation arose last month when Tesla's Bitcoin wallet balance on the Arkham Intelligence dashboard showed an increase of 1,789 BTC compared to previously reported figures. Some observers interpreted this as a potential indication of Tesla adding more Bitcoin to its inventory. However, Tesla's recent balance sheet indicates no change in its digital net worth, remaining steady at $184 million. Despite the first-quarter profit falling short of analysts' expectations and a notable decline in revenue, Tesla shares surged by 13% in after-hours trading.
