Tesla CEO Elon Musk presented some new details on the Tesla Network’s Robotaxi ride-hailing service.

Musk outlined how much electric car owners can earn from the service, as well as how long vehicles can last operating as autonomous ride-sharing Robotaxis.

Tesla owners who wish to use their vehicles for the Tesla Network will be able to manage their electric cars through their smartphone. Musk dropped several points of information that will be key to the Tesla Network as well. Among these is the vehicles’ longevity.

The CEO noted that current-generation battery packs are good for about 300,000 to 500,000 miles, though Tesla’s upcoming batteries which will go on production next year will operate for twice as long, up to 1 million miles with minimal maintenance.

These long-lasting batteries will likely go well with Tesla’s 1 million mile drive units. Together, these components can create a fleet of vehicles that is capable of lasting very long with very little maintenance.

Musk notes that the Tesla Network will be extended to the Model S, 3, and X, though Model 3 will be used as the company’s first Robotaxis.

Asserting its push towards the Tesla Network, Musk stated that the company will be biasing its sales strategy towards smaller battery packs, in order to get a higher volume of cars on the road.

Operating the Tesla Network will make the electric car maker a player in the highly-competitive ride-sharing market, which is dominated by giants such as Uber and Lyft. Thanks to their low operating costs as all-electric cars, Tesla’s electric cars hold an advantage.

Tesla estimates that running a Robotaxi will cost around $0.18 or less per mile. This undercuts the $2-$3 cost per mile of ride-sharing.
These low operating costs help owners who participate in the Tesla Network earn some healthy profits. Musk estimates that a single Robotaxi has the potential to make a gross profit of $0.65 per mile assuming that 50% were empty miles, and an annual mileage of 90,00 miles.

Using this computation, the CEO notes that the Tesla Robotaxi could earn around $30,000 per year. Couple that will the long life of a Tesla electric car and every single vehicle in the company’s fleet becomes a potential money-maker.

Tesla is starting a very noticeable push for the Tesla Network this year. When the company announced Model 3 leasing, Tesla notes that vehicles that are leased cannot be bought since they will be used for the autonomous ride-sharing service.

The electric car maker expects that by next year, it will have around 1 million vehicles on the road that are compatible with the Tesla Network.

Teslas currently have autopilot (which is basically like cruise control)
This is not the same as Full Self-Driving they're still developing

When Full Self-Driving releases Tesla says car owners can make $30,000 a year
By using the cars' computer as a taxi like Uber when the owner isn't driving it.

The average gas car lasts around 11 years and by conservative estimates
a Tesla that cost $35,000 at retail price can make $300,000 over its lifespan.

Tesla designs all their cars to last at least 1 million miles
This will increase profits car owners can make using their car as a robotaxi.

That's why Tesla does not allow you to buy the car after you finish leasing it.
They want as many of their cars back as possible.
It doesn't make sense for Tesla to sell it at $25,000 after a lease
when it will make them $300,000 as a robotaxi.

Once the public understands how these cars make money as robotaxis
Tesla's advantage over other auto makers will put many out of business.
Because even if regular auto companies only produce fully electric cars.
Their cars will not give you the option to make $30,000 a year
and they will not be guaranteed to last 1 million miles like a Tesla.

The crazy part is — Tesla's profits from auto sales is actually peanuts compared to the kind of bags Tesla is chasing across different industries.

Tesla is entering a $2 TRILLION MARKET all by itself with no competition.
And when competitors do enter they'll still be 5+ years behind.

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