
Elon Musk’s Robo-Taxi Will Compete with Uber and Lyft , Who Will Come Out Victorious?

Car manufacturing company Tesla and its founder and chief executive officer Elon Musk have been riddled with controversies every now and then, but that doesn’t topple over their continuous ambition to dream big and aim higher.
In fact, in last year’s report, their shares increased by 12 percent, exceeding the Wall Street projections of their third-quarter revenue, which means that the company has better days in store in the future.

Tesla’s newest tech will go head to head with Uber and Lyft
Elon also bought shares of his company worth $10 million, amplifying his ownership to about 20 percent. But there is no stopping the 47-year-old from achieving his ambitions for Tesla after he announced last year that he aims to compete against Uber and Lyft with a brand new ride-hailing service.
Both of his competitors are pretty established in the automotive industry and taking them down will be no easy feat. So how will the brand beat the ride-hailing services?
Beating Uber and Lyft
Dubbed as the Tesla Network, this is a mixture of a ride-hailing service and a driverless experience – an idea that Elon previously toyed about. During the announcement in May last year, he said it would probably be ready for release by the end of 2019.
Of course, the target date is highly dependent on a lot of factors, including getting a green light from regulators and further development of its autonomous system for driving.
There will be a million Robo-taxis released next year, Elon Musk projectedUnlike Uber or Lyft where owners need to be the ones driving, Tesla boasts that their company-owned vehicles, which it will supply once there are only a few cars that are lent out, allow flexibility for the owners.
Here’s how it goes: there will be a network of owners who can lend their cars for transportation whenever they want to earn extra cash and they can also recall their rides whenever they want to, pretty much like how Airbnb works.
What Are Robo-Taxis?
In more recent news, Elon already dropped a very intriguing promise — Tesla will be releasing about a million Robo-taxis by 2020. Robo-taxis are basically any autonomous vehicle from Tesla that is connected to the network.
Owners simply need to add their cars to the Tesla Network through the app. Just like Uber and Lyft, customers can hail a ride via the app, but the only difference, as mentioned, is that they won’t see a driver since the cars are self-driving.

Elon Musk is positive that there will be more Robo-taxis on the roads by next year
Mixed Reactions
While Elon said he is confident of his Robo-taxis’ release in several parts of the United States, others are still not convinced about the plan. Remember that there are regulatory limitations in other regions of the country that may not allow these vehicles on their roads.
Cowen analyst Jeff Osborne called the idea “half-baked” because Tesla appeared to have nudge questions on basic things like insurance and pricing.
As for the tech customers, Elon said that the average cost per mile in common ride-hailing service is around $2 to $3, while Tesla’s version will only be $.018 per mile. For the owners of the cars, the chief said they can earn around $30,000 per year.
More inAdvice
-
`
Mercedes-Benz Cuts Costs, Prioritizes Combustion Engines for Profit Boost
The automotive landscape is shifting, and one major player is recalibrating its strategy to navigate the evolving market. In a bid...
March 8, 2025 -
`
The Hidden Downsides of Delaying Social Security Until 70
Many people are told to hold off on claiming Social Security until they reach 70 to receive the highest possible monthly...
March 8, 2025 -
`
Will Louisiana’s Car Insurance Crisis Get Worse Due to Tariffs?
Tariffs often impact industries in unexpected ways, and Louisiana’s car insurance market might face new challenges because of them. Although most...
March 2, 2025 -
`
Is Tesla’s Self-Driving Software Safe? Cybertruck Crash Raises Doubts
A recent Tesla Cybertruck accident has sparked concerns about the company’s self-driving technology. The incident occurred in Reno, Nevada, when a...
March 2, 2025 -
`
Should I Rebalance My Portfolio Alone or Seek Professional Help?
Managing investments requires a well-planned strategy, especially when nearing retirement. Many investors wonder whether they should handle portfolio rebalancing on their...
February 22, 2025 -
`
Auto Industry Faces More Challenges in 2025, Experts Warn
The auto industry is heading toward a challenging 2025, with multiple factors reshaping its landscape. Tariff threats, rising costs, and obstacles...
February 22, 2025 -
`
Car Insurance Rates Surge Across 5 States – Are You Affected?
Car insurance rates have surged dramatically across the U.S., with some states experiencing historic increases in 2024. Minnesota and Maryland have...
February 15, 2025 -
`
Elon Musk Admits Tesla’s Self-Driving Hardware Needs an Upgrade
For years, Elon Musk has confidently stated that Tesla vehicles had the necessary hardware to achieve full autonomy. However, in a...
February 15, 2025 -
`
10 Valuable Career Lessons for the 20s That Pay Off in Your 30s
Entering your 30s often feels like a moment of reflection. For many, it’s a time when you realize how much the...
February 8, 2025
You must be logged in to post a comment Login