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Tesla taxis: Start for Tesla taxis could be implemented this year – if not autonomously | message


• Tesla taxis could start this year
• Wood compares Tesla balance sheet with “fortress”
• Selling vehicles for passenger transportation much more profitable

Before the end of the year, Tesla plans to have developed its autopilot system for vehicles to such an extent that autonomous driving is possible in principle. CEO Elon Musik announced this in April. Nevertheless, it is still not clear when the vehicles will actually be able to drive on the road without a human driver. So there will be no independent taxi service from Tesla this year.

Strong position against competitors

Catherine Wood, managing director of the investment firm Ark Invest, sees a great opportunity for Tesla, especially due to the situation of the company’s direct competitors. Compared to the balance sheets of traditional car manufacturers, which are currently rather risky, Tesla’s balance sheet looks more like a fortress, Woods told MarketWatch, a business news website. So while Tesla continues to grapple with autonomous vehicles and deal with artificial intelligence, traditional manufacturers are falling behind more and more, and they have to invest a lot to keep up. According to Woods, the danger has existed for some time. You yourself have repeatedly drawn attention to them.

Correction of the target price

Woods cut its Tesla price target from $ 7,000 in February to $ 6,800 due to the corona pandemic, but it is for a period of five years, not twelve months. Furthermore, she believes the tactic that Tesla will give a buyer a car at the price of a down payment and that he will pay the remaining amount using his earnings from the vehicle is a good idea and very likely. The reason for this is that the business with passenger transport concepts like ride hailing is considerably more profitable than the sale of vehicles to private individuals. This would allow Tesla to pursue a concept similar to that of the service company Uber, which provides potential passengers with drivers who transport them to the desired location.

Fabian Bullinger / editorship

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