What’s Up, Elon: Tesla Lost Over $700M in Q1, Self-Driving Robotaxis and More News

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Nexter.org tells about the most interesting things and events that happened with Elon during the last seven days.

Tesla robotaxis

Source: Tesla

 Tesla CEO is to turn the electric car company’s cars into a taxi service to compete with Uber and Lyft.

He tweeted about these so-called robo-taxis earlier this month. These vehicles will operate through autonomous driving.

tesla-elon-musk-news-pic

Also, Musk noted that all Tesla cars are made today with full self-driving capabilities, however, some government regulations don’t allow them to hit the road.

 

stated ‘basically crazy to buy any other car but a Tesla’

The entrepreneur said Tesla’s autonomous driving-tech gives its cars a huge advantage over the company’s rivals.

Source: Reuters

“The fundamental message that consumers should be taking today, it is financially insane to buy anything other than a Tesla. It will be like owning a horse in three years. I mean, fine if you want to own a horse. But you should go into it with that expectation,” he said.

“Like, people should really think about their purchase … it’s basically crazy to buy any other car but a Tesla. We need to convey that argument clearly, and we will after today,” Musk added.

“If you buy a car that does not have the hardware for full self-driving, it is like buying a horse. And the only car that has the hardware for full self-driving is a Tesla,” Musk said.

 

Tesla Network

Source: Tesla

At Tesla Autonomy Day the company also presented the Tesla Network service. It will allow owners of electric cars to rent them out to other drivers in a spare time.

By 2020, Tesla will be able to work in robotic mode. Tesla will take a commission of 10% of the money earned by the vehicles. According to expert estimates, drivers will be able to receive up to $500 a month. Owners will be able to decide when to share a car and limit customers to friends or family members.

 

Tesla reports loss of over $700 million in Q1

The tech company reported a loss of $702M in the first quarter on $4.5 billion in revenue. The reason for it is that Tesla faces troubles with shipping its cars to customers.

Source: Getty Images

“Deliveries of Model S and Model X declined to 12,100 vehicles in Q1 compared to our two- year run rate of roughly 25,000 units per quarter,” the company said in a statement.

“This decline was mainly caused by weaker Q1 demand due to seasonality, pull-forward of sales into Q4 2018 in the U.S. due to the first scheduled reduction of the federal EV tax credit in Q1 and discontinuation of our 75 kWh battery pack,” Tesla added.


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What's Up, Elon: Tesla Lost Over $700M in Q1, Self-Driving Robotaxis and More News
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What's Up, Elon: Tesla Lost Over $700M in Q1, Self-Driving Robotaxis and More News
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Nexter.org tells about the most interesting things and events that happened with Elon during the last seven days.
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