Tesla’s chief designer, Franz von Holzhausen, has hinted at the possibility of introducing new vehicle forms for the company’s robotaxi lineup. This comes after a presentation at the Petersen Automotive Museum, where von Holzhausen discussed the Cybercab model.
What’s Happening
Von Holzhausen’s comments suggest that Tesla may expand its robotaxi offerings beyond the already known Cybercab model. He mentioned that the company has other vehicles in its lineup and future vehicles coming that will be able to take multiple passengers. This has fueled speculation about Tesla’s future robotaxi models, potentially addressing market needs for larger passenger groups.
Expanding the Robotaxi Lineup
Tesla’s strategy involves using existing vehicles as robotaxis, but the Cybercab’s two-seat design aims to optimize costs and storage for typical ride-hailing trips. The company is reportedly in early discussions with Austin city officials to test its autonomous vehicles on Texas roads by 2025. This move could bolster Tesla’s driverless vehicle ambitions if the discussions prove fruitful.
Future Developments
Travis Axelrod, Tesla’s Head of Investor Relations, has informed Deutsche Bank that 2025 will be a pivotal year for the company’s product launches. This includes the unofficially-named “Model Q” and a long wheelbase Model Y tailored for the Chinese market. Axelrod also mentioned that the latter half of 2025 would see the introduction of “other new vehicles.”
Market Impact
Analysts at Wedbush Securities foresee Tesla potentially reaching a $2 trillion market cap by the end of 2025, driven by its autonomous vehicle initiatives, including the launch of the Cybercab. The firm’s bullish outlook underscores the importance of Tesla’s autonomous strategy in achieving this milestone.
Stock Performance
Tesla stock closed at $436.17 on Thursday, lower by 0.90%. It fell another 1.9% in after-hours trading. Year-to-date, the Tesla stock is up 75.6%. The overall consensus rating on the Tesla stock is currently ‘Buy’ with the highest price target being $515, implying an 18% upside.
Conclusion
Tesla’s ambitions for its robotaxi fleet are gaining momentum, with recent developments indicating a significant push towards autonomous vehicle deployment. As the company continues to expand its robotaxi lineup and test its autonomous vehicles on public roads, investors will be watching closely to see how these developments impact the company’s stock performance.