Elon Musk wants to pitch Tesla autonomous tech to investors who've thus far created multi-billion-dollar valuations for self-driving businesses.
, making the pre-IPO subset of the ride-hailing service worth $7 billion.
Tesla also struck a deal last week with Fiat Chrysler Automobiles to enable FCA to dodge emission penalties in Europe: the legacy company will pay Tesla hundreds of millions of Euros to include Tesla vehicles in its overall fleet. Tesla racks up by selling only electric cars.Tesla CEO Elon Musk jokingly motions to kick before introducing the Model Y at Tesla's design studio.
Musk has seen what Cruise, Uber, and also Waymo has pulled off and, being savvy about bringing in money, doesn't see why Tesla's shouldn't get its slice of the pie. The main reason why is that Tesla has a lot more vehicles on the road — equipped with its Autopilot technology that's gathering data — than the theoretical competition. Commercialized autonomous ride-hailing is currently a rather limited business.
Tesla is also using a visual system, rather than the laser radars that much of the new industry now favors. Tesla's argument is that so-called Lidar setups can't operate in a wide variety of conditions , whereas Tesla's system is akin to a human driver, but with superior eyes and a much, much bigger and faster brain.
So ultimately this is really a transparent, follow-the-money pitch from Tesla. Billions are being bet on autonomous services, and Musk thinks Tesla should grab its share.
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