Tesla CEO Musk promises two million robotaxis per year

Elon Musk is doubling down on his bold promises to make Tesla the leading provider of self-driving cars. He announced that the company would produce at least two million vehicles of the specialized robotaxi model "Cybercab" annually, "possibly up to four million" in the end, during the presentation of the latest quarterly figures. He cautioned that this prediction is his "best possible estimate." Additionally, every current Tesla electric car will be capable of driving autonomously anyway.

Musk reaffirmed that the robotaxi should be produced in larger quantities by 2026. However, since 2016, he has repeatedly announced that Tesla would soon have autonomous cars. But so far, Tesla's "Autopilot" software, even in its advanced version, is just a driver assistance system where the human at the wheel remains responsible and must be ready to take control at any time.

There are already robotaxis from others 

Meanwhile, Google's sister company Waymo is making more than 100,000 trips with passengers per week in four US cities without a human at the wheel. However, the Jaguars converted into self-driving cars by Waymo contain additional technology costing more than $100,000, which makes it more difficult to make money with them. 

Musk, on the other hand, hopes to achieve self-driving cars using only cameras instead of more expensive laser radars. If successful, Tesla would have an enormous cost advantage - and already several million vehicles capable of this on the road. However, many industry experts doubt whether this is even reliably possible.

Ride-Service App in Internal Testing

Tesla is already internally testing an automated ride-service for employees in Silicon Valley, albeit with safety drivers at the wheel. The announcements electrified investors despite the many missed deadlines in the past: Tesla shares recorded a gain of around twelve percent in after-hours US trading on Wednesday.

The "Cybercab" prototype, presented by Musk about two weeks ago at a show in Hollywood, had neither a steering wheel nor pedals. According to current US regulations, such vehicles can only be brought onto the roads with special permission in small numbers. Additionally, the regulations for self-driving cars vary from state to state.

Musk Relies on Closeness to Trump

However, Musk's support for former President Donald Trump, who wants to return to the White House, could come into play here. Trump had suggested that, upon his election victory, he would appoint Musk to lead a panel overseeing government spending. If it comes to that, he would work to ensure that there is a nationwide regulation for the approval of autonomous cars, "for everyone, not just Tesla," Musk now said. He reaffirmed that self-driving Teslas are expected to be on the road in Texas and California next year.