Elon Musk recently announced on X that Tesla is set to unveil its highly anticipated robotaxi on August 8th. This autonomous vehicle is reportedly built upon Tesla’s next-generation vehicle platform, marking a significant step forward in the company’s autonomous driving ambitions.
Coinciding with this announcement, Reuters reported that Tesla had decided to scrap its plans for a more affordable electric vehicle priced around $25,000. Musk allegedly informed employees that instead of pursuing a mass-market EV, the company would concentrate entirely on developing an autonomous vehicle that could potentially render traditional vehicles obsolete.
Musk has been hinting at the concept of a Tesla robotaxi for quite some time, even showcasing a covered vehicle during a 2023 event that unveiled the company’s third Master Plan. Years earlier, he speculated that Tesla owners could generate revenue by allowing their autonomous cars to pick up and drop off passengers, forming what he referred to as the “Tesla Network” in his Master Plan Part Deux. This network would allow Tesla owners to add their vehicles to a shared fleet via the Tesla phone app, enabling them to earn income while their cars are idle.
Tesla faces competition in the autonomous driving sector, with rivals such as Google’s Waymo and General Motors’ Cruise aggressively pursuing driverless ride-hailing services. The unveiling of Tesla’s robotaxi in August will shed light on the company’s position in this rapidly evolving field and how it compares to its competitors.