Elon Musk, the CEO of Tesla, has stated that the company wants to launch a robotaxi without a steering wheel or pedals by 2024.
The news comes after the world’s largest electric vehicle manufacturer reported a healthy net profit of $3.3 billion in the March quarter.
Quarterly revenue was $18.8 billion, exceeding expectations of $17.9 billion and increasing by 81 percent year over year. Earnings per share came in at $2.86, vs $2.27 expected, while adjusted earnings per share came in at $3.22.
According to Musk, the driverless rideshare service will cost the same as a subsidized subway ticket. Tesla has reputation for selling pricey electric automobiles. But it remains to be seen how cheaply he can offer the robotaxi.
“It’s fundamentally optimized for trying to achieve the lowest fully considered cost per mile, cost per kilometer, accounting for everything,” The Business Insider quoted Musk as saying.
“I think that really will be a massive driver of Tesla’s growth.”
Tesla robotaxi along with a number of other innovations
Tesla Robotaxi will also have a “number of other innovations,” though Musk did not specify how innovative they will be.
Musk originally referenced the robotaxi during Tesla’s Austin gigafactory launch earlier this month. There, he detailed several upcoming goods, including Optimus, the company’s humanoid robot design.
Tesla’s departure from its passenger car industry, which currently provides the majority of its revenues, would memorialize by these “futuristic products,” according to the 50-year-old.
“Optimus ultimately will be worth more than the car business, worth more than FSD,” he said.
Tesla has been under pressure from supply-chain challenges, with its plants operating at less than full capacity for multiple quarters.
An increase in COVID-19 cases in China has affected Tesla’s Shanghai Gigafactory. It produced half of the company’s global output last year.
However, after the local government decided to relax some of the limitations, manufacturing has slowly resumed.