Tesla CEO Elon Musk says robotaxis will cost 20 cents a mile to operate
Tesla CEO and X owner Elon Musk rides in Tesla's robotaxi at an unveiling event in Los Angeles on Oct. 10, 2024.Tesla CEO Elon Musk showcased a long-promised robotaxi with two gull-wing doors and without a steering wheel or pedals at a much-hyped event on Thursday, paving the path for what he has bet will drive long-term growth for the electric vehicle maker.
Enthusiasm around the event has been on display across social media, with screenshots of invites and speculation on what might be disclosed. But investors and analysts have flagged challenges with the technology and reined in expectations. Thursday’s event at the Warner Bros studio near Los Angeles, California, is titled “We, Robot” – an apparent nod to the “I, Robot” science-fiction short stories by American writer Isaac Asimov, but also echoes Musk’s insistence that Tesla “should be thought of as an AI robotics company” rather than an auto maker.
Musk could also give details on cheaper versions of Tesla’s current EVs as well as updates on its humanoid robot Optimus. To convince investors that Tesla can keep up the blistering pace of growth it reported several quarters back, analysts said Musk needs to show a prototype and provide detailed plans on how Tesla can overtake rivals such as Alphabet’s Waymo, which operates uncrewed robotaxis ferrying paying passengers in a few U.S. cities.
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