Tesla will launch its first batch of robotaxis in Austin, Texas, on June 22, following years of anticipation. The vehicles will be driverless but geofenced to designated areas, and a human may monitor them remotely. This initiative is part of Tesla’s broader strategy to innovate beyond electric vehicles, with plans for a ride-hailing fleet that could include rental options for Tesla owners.
Analyst Gary Black suggested that Tesla owners could earn approximately $40,000 annually by renting their vehicles to the robotaxi fleet, assuming a $1 per mile charge and an average of 25 trips per day. Elon Musk has also indicated that he expects hundreds of thousands of robotaxis to be operational by late 2024. The market will closely watch this launch as Tesla’s valuation heavily relies on the success of such innovations.
Initial reports indicated the launch would occur on June 12, but Musk delayed it for safety checks. Tesla currently trades at a forward P/E ratio of 172, raising questions about whether the company’s market cap could surpass major players like Apple and Microsoft.
