Tesla Inc. CEO Elon Musk has shared ambitious targets for the electric vehicle giant. During the second-quarter earnings call with investors, Musk announced plans for widespread Robotaxi deployment by 2025.
What Happened
Musk stated that autonomous ride-hailing services are expected to be available to half of the US population by the end of the year. However, he emphasized that these plans are subject to regulatory approval, and the company is being cautious to avoid taking any chances.
Expansion Plans
The number of vehicles deployed and the serviceable area for Robotaxis are expected to increase at a “hyperexponential rate” soon. Tesla is targeting more cities for Robotaxis in the US, with approvals pending in Phoenix and Florida. The company is also working closely with regulators in the Netherlands for Full Self-Driving (FSD) approval and plans to target the EU next. Additionally, Tesla is working to get FSD unblocked in China.
Optimus Robots
The company plans to release the 3rd generation Optimus model soon, with prototypes expected by the end of the year and mass production scheduled for next year. Musk aims to reach an annual production target of a million units “as fast as humanly possible,” with a 5-year target of 100,000 units produced annually.
Why It Matters
These announcements come as Tesla released its second-quarter results, with revenue down to $22.5 billion, a 12% year-over-year decline. Despite this, Tesla had a strong second-quarter delivery, with 384,212 deliveries, beating analyst expectations. However, the company’s sales have been dwindling, with a 12% decline in the US and a 21% decline in California.
Vehicle Safety Report
Tesla also released its vehicle safety report for the second quarter, recording over 6.69 million miles driven per crash when the company’s Autopilot feature is toggled on.
Future Plans
As Tesla continues to work towards its ambitious goals, the company is expected to make significant strides in the autonomous vehicle industry. With its focus on safety, innovation, and expansion, Tesla is poised to remain a leader in the electric vehicle market.
Key Takeaways
- Tesla aims to deploy Robotaxi services to half of the US population by the end of the year
- The company is working closely with regulators to obtain approval for Full Self-Driving (FSD) technology
- Tesla plans to release the 3rd generation Optimus model soon, with mass production scheduled for next year
- The company aims to reach an annual production target of a million units “as fast as humanly possible”