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Elon Musk reveals plans to roll out robotaxi with no steering wheel by 2024

Tesla CEO Elon Musk recently announced that the company plans to roll out ‘robotaxi’ electric car with no steering wheel or pedals by 2024. Musk said that the autonomous rideshare service will cost as much as a subsidised subway ticket, and the vehicle will focus on cost per mile.  

The Tesla CEO also confirmed that his company plans to reveal the vehicle likely in 2023 with aims to reach volume production of the new vehicle in 2024.

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Last month at Tesla’s Cyber Rodeo event, Musk announced that Tesla is working on a new vehicle, a dedicated robotaxi.

Talking about the robotaxi, Musk said that it will also contain a “number of other innovations” though he did not elaborate on how innovative it would be.

The 50-year-old said that these “futuristic products” would mark Tesla’s departure from its passenger car business, which generates the bulk of its profits today.

Tesla records a net profit of $ 3.3 bn in Q1 2022

Tesla, the world’s largest electric-vehicle maker, recorded a strong net profit of US $3.3 billion in the March quarter.

Quarterly revenue stood at $18.8 billion, beating estimates for $17.9 billion, and up 81 per cent year-on-year. Earnings per share came in at $2.86, compared with expectations for $2.27, and adjusted earnings per share were $3.22.

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Tesla has been hit by supply-chain issues, with its factories running below capacity for the last several quarters. Now it remains to be seen how cheap can he sell the robotaxi, considering that Tesla is known for selling expensive electric cars.    

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