News on Medial

Tesla leaves Uber plenty of road

Livemint · 1m

- Tesla's recent "We, Robot" event left shareholders disappointed with a lack of details regarding the robotaxi vehicle and service. - Tesla's shares dropped nearly 9% following the event, while Uber's shares jumped nearly 11% as investors saw Tesla's announcement as a best-case outcome for Uber. - Tesla plans to have its robotaxi, called the Cybercab, in production within a couple of years and sell it for less than $30,000. - However, the success of Tesla's robotaxi depends on finding enough riders to fill the fleets and generate returns for individual buyers turned fleet operators. - Other robotaxi operators, like Waymo, have partnered with Uber to leverage its large customer base and existing infrastructure. - Tesla will also face challenges in getting the necessary certifications for full, unsupervised self-driving, which is typically a multiyear process.