TECH - Elon Musk Needs To Achieve This With Robotaxi If Tesla Wants To Take On Uber And Lyft Until Then It's All 'Day-Dreaming' Says Fund Manager | Benzinga
Tesla, Inc. (NASDAQ:TSLA) is due to hold its robotaxi unveil event on Aug. 8 and investors and analysts are equally excited about the opportunity it presents. Future Fund’s Gary Black, a Tesla investor, on Tuesday suggested that the robotaxi may not take off strongly before the full self-driving technology is made fully unsupervised.
What Happened: A Tesla influencer on X worked out the benefit-cost ratio of the Elon Musk-led company launching a ride-sharing service. His analysis showed the service offering fetching revenue at an annual run-rate of $1.4 billion to start with. The influencer said Tesla should subsidize rides on its rideshare app ahead of the robotaxi unveil and require all drivers to drive Tesla vehicles and, if possible, be highly rated on other rideshare apps.
The penetrating pricing strategy of offering rides at lower prices than competition including Uber and Lyft would increase awareness about the app and also lure users to it, he said, adding that Tesla should use its ...