Elon Musk, the CEO of Tesla and owner of X (formerly known as Twitter), announced that Tesla will be revealing its robotaxi product on August 8. This project has been discussed by Musk for some time and is seen as a potential new venture for the company amid concerns about slowing growth. Following Musk’s announcement, Tesla’s stock rose over 3% in extended trading.
This news came after reports that Tesla had scrapped plans for a low-cost car model, which Musk vehemently denied. Despite Musk’s previous promises about achieving full autonomy with Tesla cars, the company has yet to deliver on this front. While Tesla offers advanced driver assistance systems, including Autopilot and Full Self-Driving options, true autonomous vehicles have not been released.
In a bid to showcase the capabilities of the Full Self-Driving option, Musk mandated that all sales and service staff demonstrate the technology to customers before delivery. However, it is important to note that Tesla’s premium option still requires a human driver ready to take over if necessary.
Other companies in the autonomous vehicle market, such as Waymo and Didi, have made strides in commercial driverless services. However, some, like Apple and GM’s Cruise service, have faced setbacks and challenges in this competitive space.
It is worth mentioning that “unveil” dates from Tesla do not necessarily indicate an imminent commercial release of a product. The company unveiled its fully electric heavy-duty truck, the Semi, in 2017 but did not start deliveries until December 2022.
Elon Musk, CEO of Tesla and owner of X (formerly Twitter), attended the Viva Technology conference in Paris where he announced that Tesla will reveal its robotaxi product on August 8th. This project has been highly anticipated and could potentially be a major new revenue stream for the company. Musk has been talking about the project for years, promising full autonomy and the ability to send a Tesla on a cross-country drive without human intervention.
Despite these promises, Tesla has yet to deliver a fully autonomous vehicle or a technology that can turn its cars into level 3 automated vehicles. However, the company does offer advanced driver assistance systems, such as Autopilot and Full Self-Driving (FSD) options. Musk recently mandated that all sales and service staff install and demonstrate FSD for customers before delivery, emphasizing the capabilities of the system.
Tesla’s FSD option, despite its name, still requires a human driver at the wheel for safety. In comparison, companies like Alphabet’s Waymo operate driverless ride-hailing services in several cities and have partnerships with Uber for food delivery. Other companies, such as Didi in China, Wayve in the U.K., and Zoox in the U.S., are also testing their own robotaxis.
Not all companies have been successful in the autonomous vehicle market. Apple recently shut down its self-driving unit and laid off hundreds of employees, while GM’s Cruise service faced regulatory scrutiny after an accident in San Francisco. Cruise’s robotaxi fleet has been grounded, and the company has undergone leadership changes as investigations continue.
At Tesla, unveiling dates do not necessarily indicate when a new product will be commercially available. For example, Tesla unveiled its fully electric heavy-duty truck, the Semi, in 2017 but did not begin deliveries until December 2022. Overall, Tesla’s robotaxi reveal has sparked investor interest, with the company’s shares rising after Musk’s announcement.
Source link
