Tesla is set to launch its purpose-built autonomous vehicle, the Cybercab, in Austin, TX, by the end of this month. This vehicle, which lacks a steering wheel and pedals, represents a significant step in Tesla’s robotaxi ambitions and has been in production at Gigafactory Texas since April.
The Cybercab rollout follows a successful test phase across multiple U.S. states, with plans to first provide rides to Tesla employees before expanding the service. Currently, Tesla’s robotaxi network has accumulated approximately 380,000 driverless miles, contrasted with Waymo’s over 220 million rider-only miles.
Tesla reported record vehicle deliveries of 480,126 in Q2 2023, reflecting a 34% increase from the previous quarter. However, its automotive gross margin has declined to 16.3% due to pricing pressures, and the company expects capital expenditures to exceed $25 billion by 2026 as it invests heavily in autonomy and AI.
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