• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 9 hours Why Wind is pitiful for most regions on earth
  • 6 mins In a Nutshell...
  • 5 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 1 hour Sources confirm Trump to sign two new Executive orders.
  • 2 days Joe Biden to black radio host, " If you don't vote for me you ain't black". That's our Democratic Party nominee ?
  • 3 days Happy 4th of July!
  • 2 days Putin Paid Militants to Kill US Troops
  • 3 days Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 3 days Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 3 days Victor Davis Hansen on Biden's mental acuity " . . unfit to serve". With 1 out of 5 Democrats admitting it. How many Dem's believe it but will not admit it?
  • 15 hours Coronavirus hype biggest political hoax in history
  • 3 days Apology Accepted!
  • 4 days The Political Genius of Donald Trump
Are Oil Bulls In For A Disappointing July?

Are Oil Bulls In For A Disappointing July?

While the sentiment in oil…

Saudi Arabia Is Bullying OPEC Members Into Compliance

Saudi Arabia Is Bullying OPEC Members Into Compliance

Saudi Arabia has threatened OPEC…

Musk Makes Bold Promise On Robotaxis

Tesla’s chief executive Elon Musk expects the electric vehicle (EV) maker to have robotaxis as early as next year, the manager said at the Tesla Autonomy Investor Day on Monday.

“I feel very confident predicting autonomous robotaxis for Tesla next year,” Musk said at the presentation in Palo Alto, California.

“Not in all jurisdictions, because we won’t have regulatory approval everywhere, but I am confident we will have at least regulatory approval somewhere, literally next year,” he said.

Tesla plans a ride-sharing app of robotaxis where any customer will be able to add or remove their vehicle to the so-called ‘Tesla Network.’

“So I expect this to operate like a combination of maybe the Uber and Airbnb model,” Musk said, adding that Tesla would take 25-30 percent of the revenue.

In places where there aren’t enough shared Tesla cars, the company will have “dedicated Tesla vehicles,” he added.

Tesla said on Monday that “All Tesla cars being built today have the hardware necessary for full self-driving.” The EV maker also touted its new Full Self-Driving Chip which “is capable of processing up to 2300 frames per second”—an improvement of 21 times over previous generation hardware.

Musk, however, admitted to the audience and investors that sometimes he isn’t on time with delivering on his promises.

“Sometimes I am not on time, but I get it done,” Musk said, as carried by CNBC, which recalls that in the past, Musk has missed some timeframes that he himself had announced for Tesla regarding the launch of new products or vehicles.

Tesla will draw additional investor and analyst attention later this week when it reports Q1 figures in the afternoon on April 24.

Tesla itself, as well as analysts, expect a loss for the quarter, after vehicle deliveries in Q1 slumped by 31 percent from the previous quarter, ending well below analyst estimates.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News