Tesla bull ARK expects ‘multi-trillion’ dollar Robotaxi to dominate Uber, Lyft starting 2025

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Tesla bull ARK Invest released a more extensive prediction on the automaker’s plans to launch a Robotaxi fleet next year.

The firm said it expects the Robotaxi platform to be a “multi-trillion dollar” opportunity and believes it could dominate long-standing rideshare companies like Uber and Lyft.

Tesla and CEO Elon Musk said at both the “We, Robot” event and the Q3 2024 Earnings Call that they expect autonomous ridesharing to be approved for operation in both California and Texas next year.

This would effectively launch the Tesla Robotaxi platform, but not necessarily the Cybercab that it unveiled at the event on October 10.

Instead, it will utilize the vehicles it has already built for the Robotaxi fleet. Hardware 4 vehicles will be what Tesla expects to use for Robotaxi, as Hardware 3 vehicles and their ability to handle the self-driving capability remain up in the air.

Tesla Robotaxi represents $1T in value, Musk to address near-term pain points: Wedbush

Tesla still has a lot of work to do before it can offer these driverless rides, and it starts with solving its in-house Full Self-Driving suite. However, ARK believes the financials will greatly benefit from the prospective value of a driverless Robotaxi platform.

This, along with a less-expensive vehicle that Tesla also plans to build in the first half of 2025, will help address and potentially unlock trillions in revenue, ARK says:

“In our view, Tesla should enjoy a price umbrella at its robotaxi launch, thanks to the high level of current ride-hail prices, as shown below, while leveraging a lower cost per mile than the average vehicle on the road. Why? The operating costs associated with electric vehicles are roughly one-third those of their gas-powered counterparts.4 Without safety drivers, Tesla has suggested that, at scale, its robotaxi rides will cost consumers only $0.30-0.40 cents per mile,5 slightly higher than ARK’s estimate of ~$0.25 per mile but well below current ride-hail costs of ~$2 per mile and personal car ownership costs of ~$0.70 per mile.6 Lower price points could unlock ~$11 trillion in revenue potential, ~80 times larger than the addressable market that Uber and Lyft target today, as shown below.”

Earlier this year, ARK remained with a similar narrative, expecting a ten-fold surge on Wall Street from Tesla, which is mostly due to the Robotaxi fleet’s potential to be a disruptor in the overall automotive sector.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Tesla bull ARK expects ‘multi-trillion’ dollar Robotaxi to dominate Uber, Lyft starting 2025





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Tesla’s Cybercab takes workers for a ride at Giga Texas

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Tesla has put a Cybercab on display at its Gigafactory Texas, with recent coverage from the site even showing the two-seat, autonomous vehicle driving a few employees around the parking lot.

Over the weekend, multiple users shared photos and video footage showing the Cybercab at Giga Texas, as it was parked in front of the facility’s main entrance. Along with being parked, the Cybercab was seen giving a few people rides in the parking lot, as was originally shared in a short video on TikTok from user anthonyacord that has since been taken down. You can see the reposted footage via Nic Cruz Patane on X below.

Notably, this Cybercab has wheels and brake calipers fully on display, unlike those with gold covers that were included on the models during the unveiling event.  Drone pilot and Giga Texas observer Joe Tegtmeyer also captured some drone shots of the Cybercab, as shared on X on Monday afternoon. Below you can see one short video in which a small crowd of employees checks out the unique self-driving vehicle.

During Tesla’s Q3 earnings call last week, Elon Musk said the company was aiming for a volume production of two million units per year with the Cybercab, expected to happen as soon as 2026. Tesla also unveiled a wireless charging system for the Cybercab that it says has an efficiency rating of “well above 90 percent,” along with offering charging as another autonomous feature.

You can also check out Teslarati’s first-hand coverage and first ride in the Cybercab below, taken at the October 10 We, Robot unveiling event in Southern California.

Update 4:00 p.m. MT: Edited second paragraph to reflect that the original TikTok video was taken down, and replaced the embed with reposted footage from another source.

Tesla Robotaxi Cybercab: Seats, price, special features, release date, and more

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Tesla’s Cybercab takes workers for a ride at Giga Texas





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Tesla China extends 5-year zero-interest loan program

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Tesla China’s five-year zero-interest loan program has been extended once more. The incentive applies to both Rear Wheel Drive (RWD) and Long Range Dual Motor All Wheel Drive (AWD) variants of the Model 3 sedan and Model Y crossover. 

As per the electric vehicle maker, China-based customers who wish to purchase select variants of the Model 3 or Model Y before November 30, 2024, would be able to take advantage of the limited-time five-year, zero-interest financing program. The incentive is highlighted in Tesla China’s order pages for the Model 3 and Model Y. 

Tesla China produces the Model 3 and Model Y from Gigafactory Shanghai. Both vehicles are offered in three variants: the base RWD version, the mid-tier AWD variant, and the top-tier Performance trim. It should be noted that the five-year, zero-interest financing offer is only available for the RWD and AWD trims, not the Model 3 and Model Y’s Performance variants. 

The Tesla Model 3 and Model Y are still premium vehicles in China. As per the Model 3’s order page, the base RWD variant costs RMB 231,900 ($32,550); the Long Range AWD version costs RMB 271,900 ($38,160), and the Model 3 Performance costs RMB 335,900 ($47,150) before options.

As for the Model Y, the vehicle’s base RWD version costs RMB 249,900 ($35,000); the Long Range AWD costs RMB 290,900 ($40,830), and the Performance trim starts at RMB 354,900 ($49,800) before options, as per the vehicle’s order page.

Estimated delivery dates for all variants of the Model 3 sedan are currently listed at 4-6 weeks as per Tesla China’s order page. All Model Y variants, on the other hand, are listed with an estimated delivery date of 1-3 weeks. 

Tesla China’s five-year, zero-interest loan offer was initially launched in April. At the time, Tesla noted that the program would only be available for a limited time. Since then, however, the electric vehicle maker has implemented extensions at the end of every month. It would then be unsurprising if Tesla China extends the program until the end of the year. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Tesla China extends 5-year zero-interest loan program





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