Elon Musk, CEO of Tesla Inc., has announced a significant update on the company’s Full Self-Driving (FSD) technology, a crucial component of Tesla’s Cybercab ambitions. During a recent earnings call with investors, Musk shared the company’s plans to launch a paid robotaxi service on select Model Ys starting June.
Key Takeaways from the Earnings Call
- The robotaxi service will initially launch in Austin, with a fleet of autonomous taxis consisting of Model Ys, not Cybercabs.
- Musk stated that the company is still debating the exact number of vehicles to start with, but it will likely be around 10 or 20 on day one.
- The billionaire expressed confidence that the robotic taxi business will expand to multiple cities in the US by the latter half of 2026.
- Musk emphasized that the robotaxi service will significantly boost Tesla’s financials, stating, “Once we can make it work in a few cities in America, we can make it work anywhere in America.”
Tesla’s Future: Autonomy and Innovation
Musk highlighted that the future of the company is fundamentally based on large-scale autonomous cars and humanoid robots. He noted that the Tesla Model Y will be able to drive itself directly to customers from the factory later this year. This innovation is a significant step towards Tesla’s goal of making transportation more efficient and autonomous.
Market Reaction and Future Prospects
Tesla’s shares rose over 5% in value during after-hours trading following Musk’s comments. Although the company experienced a 71% decline in year-over-year profits, the announcement of the paid robotaxi service has generated excitement and optimism about Tesla’s future prospects. With more affordable models on the way and a focus on autonomy, Tesla is poised to revolutionize the transportation industry.
What’s Next for Tesla?
As the company continues to innovate and expand its services, investors and customers alike are eagerly awaiting the launch of the paid robotaxi service. With Musk’s commitment to Tesla and the company’s focus on autonomy, the future of transportation is looking bright. Stay tuned for more updates on Tesla’s journey towards making autonomous transportation a reality.