In a recent presentation at the Petersen Automotive Museum on Tuesday, Tesla Inc.’s TSLA chief designer Franz von Holzhausen hinted at the possibility of introducing new vehicle forms for the company’s robotaxi lineup.
What Happened: Von Holzhausen’s cryptic comment suggests that Tesla may expand its robotaxi offerings beyond the already known Cybercab model.
“We have other vehicles in our lineup, and future vehicles coming that will basically take multiple passengers,” he said during an overview of the Cybercab at the Petersen Automotive Museum.
Von Holzhausen’s comments have fueled speculation about Tesla’s future robotaxi models, potentially addressing market needs for larger passenger groups. Tesla’s strategy involves using existing vehicles as robotaxis, but the Cybercab’s two-seat design aims to optimize costs and storage for typical ride-hailing trips.
Earlier, Travis Axelrod, Tesla’s Head of Investor Relations, informed Deutsche Bank that 2025 would be a pivotal year for the company’s product launches. This includes the unofficially-named “Model Q” and a long wheelbase Model Y tailored for the Chinese market.
Axelrod also mentioned that the latter half of 2025 would see the introduction of “other new vehicles.”
See Also: Tesla Reportedly In Talks With Austin To Bring Autonomous Vehicles To Texas Roads: Elon Musk-Led EV Giant Rises 3% In Pre-Market
Why It Matters: Tesla’s ambitions for its robotaxi fleet are gaining momentum, with recent developments indicating a significant push towards autonomous vehicle deployment.
The company is reportedly in early discussions with Austin city officials to test its autonomous vehicles on Texas roads by 2025. This move could bolster Tesla’s driverless vehicle ambitions if the discussions prove fruitful.
Von Holzhausen also recently shared insights into the aesthetic choices for the Cybercab, describing it as a “future version” of New York City’s iconic yellow cabs. The choice of gold paint reflects a modern take on the traditional yellow cab, aiming to create something more expressive and up-to-date.
Analysts at Wedbush Securities foresee Tesla potentially reaching a $2 trillion market cap by the end of 2025, driven by its autonomous vehicle initiatives, including the launch of the Cybercab. The firm’s bullish outlook underscores the importance of Tesla’s autonomous strategy in achieving this milestone.
Price Action: Tesla stock closed at $436.17 on Thursday, lower by 0.90%. It fell another 1.9% in after-hours trading. Year-to-date, the Tesla stock is up 75.6%, according to Benzinga Pro data.
The overall consensus rating on the Tesla stock is currently ‘Buy’ with the highest price target being $515, implying an 18% upside.
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Photo courtesy: Tesla
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